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Bank Concentration and the Structure of Interest

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  • Edita A. Tan

Abstract

The Philippine financial system has failed to develop over the last three decades. M3/GNP ratio has not risen but has merely fluctuated around 22-25 percent. Wrong policies are blamed for the poor performance of the system. The current interest rate structure shows extremely wide differentials between saving and time deposit rates and between saving deposit and loan rates. The paper tries to explain these by the policies adopted by the Central Bank, especially those restricting bank entry and imposing high intermediation taxes. The paper analyzes how the policies effectively repress intermediation activities and result in high profits and intermediation cost. The effects of the current policies are compared to the effects of the more traditional forms of repression followed earlier, i.e., 1960 to 1980.

Suggested Citation

  • Edita A. Tan, 1989. "Bank Concentration and the Structure of Interest," UP School of Economics Discussion Papers 198915, University of the Philippines School of Economics.
    • Handle: RePEc:phs:dpaper:198915
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    Cited by:

    1. Llanto, Gilberto M. & Intal, Ponciano Jr. S., 1998. "Financial Reform and Development in the Philippines, 1980-1997: Imperatives, Performance and Challenges," Philippine Journal of Development JPD 1998 Vol. XXV No. 1-a, Philippine Institute for Development Studies.
    2. Milo, Melanie S. & Pasadilla, Gloria, 2005. "Effect of Liberalization on Banking Competition," Discussion Papers DP 2005-03, Philippine Institute for Development Studies.
    3. Milo, Melanie S., 1999. "Contagion Effects of the Asian Crisis, Policy Responses and their Social Implications," Philippine Journal of Development JPD 1999 Vol. XXVI No.2-c, Philippine Institute for Development Studies.
    4. Manasan, Rosario G., 2000. "Public Sector Governance and the Medium-Term National Action Agenda for Productivity (MNAAP)," Discussion Papers DP 2000-24, Philippine Institute for Development Studies.
    5. Milo, Melanie S., 1999. "Contagion Effects of the Asian Crisis, Policy Responses and Their Implications," Discussion Papers DP 1999-32, Philippine Institute for Development Studies.

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