The formal credit market has rationed out small-scale farmers due to asymmetry of information. Hence, interlinking of markets is observed. In this arrangement, traders become lenders to farmers due to informational advantages acquired through the years of transactions with each other. This...

What are the effects of interest rate deregulation in the Philippine agricultural credit? This study attempts to answer this question by focusing on the institutional costs of lending to agriculture and the immediate effects of deregulation on these various costs. The frames of reference...

One of the important weapons the government has used to alleviate poverty is its credit policy aimed to mitigate destitution among small farm households. However, its intended recipients have not properly received the effort. Convinced that credit availability can be sustained to achieve poverty...

How are interest rates determined in an open economy after financial liberalization has taken place? This is the main question that this paper attempts to answer. Utilizing a model adopted from Edwards and Khan, the author explains how interest rates are determined by both domestic monetary...

This paper provides an overview of the macroeconomic role and impact of Philippine public enterprises. In particular, it deals with its economic contribution on value-added, investment and employment. It also discusses the sector’s deficit and the impact of its finance on the national budget...

This paper presents quantitative measures of the annual flow and cumulative stock of capital flight from the Philippines from 1962-1986. Results indicate a substantial capital flight during the period of investigation, amounting to almost four-fifths of the country’s external debt outstanding...

The last decade has witnessed a very active government expenditure program in the Philippines. Although the country’s national government expenditures as a proportion of GNP have been lower compared to other Asian countries, it has been high relative to available budgetary resources. This...

This paper provides an overview of the macroeconomic role and impact of Philippine public enterprises. In particular, it deals with its economic contribution on value-added, investment and employment. It also discusses the sector’s deficit and the impact of its finance on the national budget...

This paper presents quantitative measures of the annual flow and cumulative stock of capital flight from the Philippines from 1962-1986. Results indicate a substantial capital flight during the period of investigation, amounting to almost four-fifths of the country’s external debt outstanding...

The manner by which the government has chosen to finance the fiscal deficit in the given period and the economic consequences of financing of government expenditures are discussed in this paper. It documents the size of the government deficit from 1975-1984 through the presentation of a...