In a modern economy, the payment system is a major component of the country`s infrastructure system. Indeed, no country nowadays can afford to take its payment system for granted. Advances in information technology and changes in laws, institutions and regulations in some countries have...

A subset of the informal financial institutions that has been recently used as lending conduits of special credit programs is the credit union system. However, they often face some resource constraints which prevent them from satisfying the credit demands of their members on time. Access to...

Analysis of the estimation performed indicates the need for adequate attention over the target aggregates. In the light of other policies undermining monetary control, it is worthwhile to ensure transparency on the central bank’s goal.

The Philippines is one of the countries in Southeast Asia that has experienced massive capital inflows. Being a latecomer in this arena, it can avoid the undesirable effects of these inflows by drawing lessons from the experiences of Latin American and other Asian countries. This paper provides...

Exactly what constitutes bank input and output has not yet been settled. Some argue that deposit liabilities and earning assets are outputs as they represent the capacity of services banks can perform. A number of economists, however, assert that only earning assets can be considered as outputs...

As far as the policies are concerned, the government has been successful in reversing the flow of loanable funds in favor of rural areas through maintenance of agricultural loan quota and deposit retention policies. This paper examines the structure of funds transfer operations of rural-based...

This article attempts to study the Philippine experience with financial liberalization. In particular, it examines the impact of interest rate reforms on the flow of loanable funds in the organized financial market.

Early 1980s has seen series of reforms in the Philippine financial system having improved financial intermediation as the general objective. This paper reviews the pace and effectiveness of the reforms implemented by the government. Findings show that economic instability and the ineffective...

Marginal saving rates for the Philippine households are estimated, distinguishing between rural and urban households, by region and by income group. At a given income level, rural households generally save more, both on the average and on the margin. This contrasts with the higher savings rate...

Despite deregulation of the financial markets such as liberalization of foreign bank entry and branching, the government continues to directly intervene in the credit markets through several special credit programs. In the effort to restructure the economy, the government has availed the...