Candidates' take on issues that worry Philippine markets

Analysts say the presidential race will hurt local markets in a big way if the elections do not produce credible results, while a smooth transition of power will likely boost investments in local stocks and bonds.

Here are some questions and answers on major economic and political issues markets want the top four presidential candidates to address:

How Will You Tackle Corruption?

BENIGNO AQUINO — Aquino's phenomenal rise in popularity polls can be traced to an outpouring of emotion after the death of his mother, the country's revered democracy icon, Corazon Aquino, in August 2009 and his campaign promise to fight corruption in government.

He vowed in his political ads and on his website to be the country's first and most determined corruption fighter, but has not given many details. In his first address to the business community last month, Aquino said he plans to develop a scorecard to assess various infrastructure projects against benchmarks transparent to the public.

Unlike his other main rivals, he has not been involved in any corruption scandal and has lived simply in the same house he grew up in.

MANUEL VILLAR — Billionaire lawmaker, Villar, who has caught up with Aquino's ratings in the latest opinion poll, has been linked to a multi-million dollar infrastructure project allegedly inserted in the national budget.

His opponents say the project was aimed at benefiting his family's property companies under Vista Land & Lifescapes.

He promises to fight graft, which he said has contributed to poor delivery of services and bad infrastructure, but also has not given details.

JOSEPH ESTRADA — Former president Estrada was ousted from office in 2001, later convicted of plunder and then pardoned by President Gloria Macapagal Arroyo.

He has denied any wrongdoing and has vowed to fight corruption and nepotism. Estrada was known during his three-year rule for throwing midnight parties with gambling and drinking buddies.

GILBERTO TEODORO — Although former defense chief Gilberto Teodoro has never been involved in any irregularity, his close association with Arroyo, who has been hounded by corruption issues since 2005, weighs him down.

During his term as defense chief, Teodoro stopped several multi-million dollar deals, including the acquisition of combat helicopters and munitions for mortars, grenade launchers and helicopter gunships due to allegations of bribery and contract fixing. He has said corruption in government can only be minimized, not eradicated, through a carrot-and-stick approach.

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