One of the issues contending the rural borrowers, who are composed of small entrepreneurs, fishermen and farmers, is the access to financial services of formal financial institutions. With this fact on hand, this article discusses the issue within the framework of asymmetry of information...

Starting from early 1960s to late 1970s, this study conducts a survey of the literature dealing with Philippine monetary policy and related aspects of the financial market. In doing so, several important research problems are noted. Hence, this study is able to aid researchers, planners and...

This paper attempts to describe and analyze the extent of problems in the Philippine financial system, their causes, regulatory and supervisory responses to such problems and the incidence of the costs of bank failures. These are all in the hope of providing lessons that are useful in...

While the ASEAN has achieved peace and stability in the region, it has nothing significant to boast about its economic achievements. This study examines the ASEAN financial cooperative efforts and their implications for improving intra-ASEAN trade and investment. The Philippine perspective is...

Despite the pawnshop’s recently gained popularity as an alternative source of credit, very little study has been accorded to it. To date, there is hardly any thorough study about it. This paper is an attempt to bridge that gap. It analyzes the role of pawnshops in the financial system with...

This study is an attempt to explain the pattern of development of the Philippine financial market. First, it provides a brief historical analysis of the financial system. It then develops an aggregative intermediation model and applies it to the Philippine stock market. It also discusses money...

One of the issues contending the rural borrowers, who are composed of small entrepreneurs, fishermen and farmers, is the access to financial services of formal financial institutions. With this fact on hand, this article discusses the issue within the framework of asymmetry of information...

Regardless of the growth and rehabilitation of several financial institutions in the last decade, a large number of borrowers have not yet been served, specifically small farm and entrepreneurs. This paper describes the Philippine banking system focusing on its effect to the different...

The analysis of credit rationing in the context of the classical equilibrium model implies the existence of financial repression where interest rates are controlled. Given fixed interest rates at a level lower than the market clearing rates, borrowers are expected to demand more loans than...

Recognition of a continuous improvement in the formal financial system is necessary for economic growth. Over the years, the government has been infusing cheap funds into the rural sector. Unfortunately, it overlooks a number of serious issues regarding bank’s transaction costs. This article...