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Financial Sector Issues in the Philippines

ASEDP

No.36

Edited by Raul V. Fabell, Kazuhisa Ito
Published in 1996

CONTENTS

Contents pdf (282KB)
Preface / Raul V. Fabell, Kazuhisa Ito
CHAPTER 1.
Philippine Financial Development:1980-95 / Cayetano W. Paderanga, Jr.
Introduction
Reforms and Central Bank Rehabilitation
Changes in the Banking System
Changes in Monetary Variables
The Real Economy
The Role of the Financial System
References


CHAPTER 2.
The Effects of Monetary Policy on Savings and Investments / Joseph Y. Lim
Introduction
A Summary of the Savings and Investments Picture
Some Regression Results
  Personal Consumption Expenditure
  The Personal Savings Function
  The Investment Function
  Interest Rates and Prices
Summary and Conclusions
References
Appendix


CHAPTER 3.
Financial Reforms and Credit Finance for Local Governments / Benjamin E. Diokno
Introduction
Pre-devolution Credit Financing
Debt Relief
Post-devolution Credit Financing
Prospects for Credit Financing for Local Governments
Implications for Policy
References

CHAPTER 4.
Current Issues in the Philippine Capital Market / Kazuhisa Ito
Introduction
The Philippine Capital Market in Comparison with its Neighboring Countries
Role of the Capital Market
Brief Background on the Philippine Capital Market
  Brief History
  Present Situation
Current Issues in the Philippine Capital Market
Conclusion
References


CHAPTER 5.
Investing in Equity: Toward an Alternative Paradigm for Reforming Agricultural Land Relations / Arsenio M. Balisacan
Introduction
Myths, Facts and Lessons from Experience
  Tenancy Reforms: Theory and Evidence
  Other Lessons from International Experience
  CARP: Features, Problems and Issues
Toward and Alternative Paradigm
  Decentralized Approach
  Matching Grants
  Deregulation of Agricultural Markets
  State and Supply of Land
References


Chapter 6
On the Objectives and Design of Special Credit Programs for the Rural Sector / Emmanuel F. Esguerra
Background
Rural Credit Programs After 1986
Justifying Special Credit Programs
  Theory
  Practice
Loan Targeting and the Design of Rural Credit Programs
Summary
References