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Interlocking Directorates, Commercial Banks, Other Financial Institutions and Non-Financial Corporations

Author

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  • Edita A. Tan

    (School of Economics, University of the Philippines Diliman)

Abstract

The paper documents the interlocking directorates of banks with other financial and nonfinancial firms which belong to the top 1,000 corporations in the Philippines. Within the interlocked group of firms are the large conglomerates of leading families. Additionally, there is interlocking within major banks. The paper argues that interlocking is an innovation for obtaining rent or privileges that were created by policies. Interlocking facilitates the lobbying process. This possibly explains the difficulty of implementing structural reforms in the country.

Suggested Citation

  • Edita A. Tan, 1993. "Interlocking Directorates, Commercial Banks, Other Financial Institutions and Non-Financial Corporations," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 30(1), pages 1-50, June.
  • Handle: RePEc:phs:prejrn:v:30:y:1993:i:1:p:1-50
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/136/461
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    References listed on IDEAS

    as
    1. Groves, Theodore & Ledyard, John O, 1977. "Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem," Econometrica, Econometric Society, vol. 45(4), pages 783-809, May.
    2. Harberger, Arnold C, 1978. "On the Use of Distributional Weights in Social Cost-Benefit Analysis," Journal of Political Economy, University of Chicago Press, vol. 86(2), pages 87-120, April.
    3. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
    4. Smith, Vernon L, 1980. "Experiments with a Decentralized Mechanism for Public Good Decisions," American Economic Review, American Economic Association, vol. 70(4), pages 584-599, September.
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    Cited by:

    1. Claessens, Constantijn A. & Djankov, Simeon & Lang, Larry H. P., 1999. "Who controls East Asian corporations ?," Policy Research Working Paper Series 2054, The World Bank.
    2. World Bank, 2000. "Philippines - Growth with Equity : The Remaining Agenda - A World Bank Social and Structural Review," World Bank Other Operational Studies 15142, The World Bank.
    3. World Bank, 2000. "Philippines : Combating Corruption in the Philippines," World Bank Other Operational Studies 15150, The World Bank.

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