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The Financial Markets in Low-Income Urban Communities: The Case of Sapang Palay

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  • Lamberte, Mario B.

Abstract

Very little has been written about the informal credit markets (ICMs) despite their prevalence in the economies of LDCs. This is probably due to the imported economic theories applied to LDCs. Such theories assume that the features in advanced economies are present in LDCs. Consequently, the policy prescriptions derived from such analyses are often irrelevant to the needs of LDCs. This paper shows the operations of the informal credit markets in a low-income urban Filipino community. Specifically, this paper focuses on the major participants and the size of ICMs, its structure and role in savings

Suggested Citation

  • Lamberte, Mario B., 1988. "The Financial Markets in Low-Income Urban Communities: The Case of Sapang Palay," Working Papers WP 1988-05, Philippine Institute for Development Studies.
  • Handle: RePEc:phd:wpaper:wp_1988-05
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    References listed on IDEAS

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    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Tanner, J Ernest, 1970. "Empirical Evidence on the Short-Run Real Balance Effect in Canada," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 2(4), pages 473-485, November.
    3. Aschauer, David Alan, 1985. "Fiscal Policy and Aggregate Demand," American Economic Review, American Economic Association, vol. 75(1), pages 117-127, March.
    4. Feldstein, Martin, 1982. "Government deficits and aggregate demand," Journal of Monetary Economics, Elsevier, vol. 9(1), pages 1-20.
    5. Plosser, Charles I., 1982. "Government financing decisions and asset returns," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 325-352.
    6. Remolona, Eli H., 1985. "Financing the Budget Deficit in the Philippines," Working Papers WP 1985-02, Philippine Institute for Development Studies.
    7. Kochin, Levis A, 1974. "Are Future Taxes Anticipated by Consumers? Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(3), pages 385-394, August.
    8. Kormendi, Roger C, 1983. "Government Debt, Government Spending, and Private Sector Behavior," American Economic Review, American Economic Association, vol. 73(5), pages 994-1010, December.
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    Cited by:

    1. Cacnio, Faith Christian Q., 2001. "Microfinance Approach to Housing: The Community Mortgage Program," Discussion Papers DP 2001-28, Philippine Institute for Development Studies.

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