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Did the Philippine Islands Have a Currency Board during the American Colonization Period?

Author

Listed:
  • Freedman, Ryan

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

The Philippine monetary system and data from 1903-1948 are examined, using general observations and statistical tests to determine to what extent the system operated as a currency board. This paper makes detailed annual balance sheets of the monetary system available in machine-readable form for the first time, in a companion Excel workbook.

Suggested Citation

  • Freedman, Ryan, 2017. "Did the Philippine Islands Have a Currency Board during the American Colonization Period?," Studies in Applied Economics 92, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0092
    as

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    File URL: https://sites.krieger.jhu.edu/iae/files/2020/01/Philippines-Paper-Final-Draft.pdf
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    References listed on IDEAS

    as
    1. Steve H. Hanke, 2008. "Friedman: Float or Fix?," Cato Journal, Cato Journal, Cato Institute, vol. 28(2), pages 275-285, Winter.
    2. Yoshiko Nagano, 2007. "National Accounts in Philippine Economic History: A Preliminary Report on Data Gathering and Research Trends," Hi-Stat Discussion Paper Series d07-220, Institute of Economic Research, Hitotsubashi University.
    3. Treadgold, Malcolm L., 2003. "The Philippine currency board arrangement, 1945 48: a case of deflationary bias?," Financial History Review, Cambridge University Press, vol. 10(01), pages 57-74, April.
    4. Nagano, Yoshiko, 2015. "State and Finance in the Philippines, 1898-1941," University of Chicago Press Economics Books, University of Chicago Press, number 9789971698416, September.
    5. Steve Hanke, 2002. "On dollarization and currency boards: Error and deception," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(4), pages 203-222.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Philippines; currency board; Gold Standard Fund; Currency Reserve Fund; Exchange Standard Fund;
    All these keywords.

    JEL classification:

    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East

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