The Central Bank and bank credits in the Philippines : a survey on effectiveness of monetary policy and its measures


Autoria(s): Kashiwabara, Chie
Data(s)

27/08/2013

27/08/2013

01/03/2013

Resumo

In 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 Bank’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 – other than loan outstanding – of banks to analyze their behavior/preference in structuring portfolios, and (2) the quantitative impacts during the monetary easing period.

Identificador

IDE Discussion Paper. No. 413. 2013.3

http://hdl.handle.net/2344/1265

IDE Discussion Paper

413

Idioma(s)

en

eng

Publicador

Institute of Developing Economies, JETRO

日本貿易振興機構アジア経済研究所

Palavras-Chave #Philippines #Monetary policy #Loans #Credit #Monetary policy measure #Credit channel #Bank loan #338.3 #AHPH Philippines フィリピン #E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System #E52 - Monetary Policy #G38 - Government Policy and Regulation
Tipo

Working Paper

Technical Report