The Central Bank and bank credits in the Philippines : a survey on effectiveness of monetary policy and its measures
AbstractIn the post-Asian crisis period, bank loans to the manufacturing sector have shown a slow recovery in the affected countries, unexceptionally in the Philippines. This paper provides a literacy survey on the effectiveness of the Central Bankâ€™s monetary policy and the responsiveness of the financial market, and discusses on the future works necessary to better understand the monetary policy effectiveness in the Philippines. As the survey shows, most previous works focus on the correlation between the short-term policy rates and during the period of monetary tightening and relatively less interest in quantitative effectiveness. Future tasks would shed lights on (1) the asset side â€“ other than loan outstanding â€“ of banks to analyze their behavior/preference in structuring portfolios, and (2) the quantitative impacts during the monetary easing period.
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Bibliographic InfoPaper provided by Institute of Developing Economies, Japan External Trade Organization(JETRO) in its series IDE Discussion Papers with number 413.
Date of creation: Mar 2013
Date of revision:
Publication status: Published in IDE Discussion Paper. No. 413. 2013.3
Postal: Publication Office, IDE 3-2-2 Wakaba, Mihama-ku, Chiba-shi, Chiba 261-8545 JAPAN
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-06 (All new papers)
- NEP-BAN-2013-09-06 (Banking)
- NEP-CBA-2013-09-06 (Central Banking)
- NEP-MAC-2013-09-06 (Macroeconomics)
- NEP-MON-2013-09-06 (Monetary Economics)
- NEP-SEA-2013-09-06 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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