Browsing by Author "Lapar, Ma. Lucila A."
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Item Restricted An empirical analysis of credit rationing in the rural financial markets of the Philipppines(1988-09) Lapar, Ma. Lucila A.; Alonzo, Ruperto P.Credit rationing, in the context of classical equilibrium theory, is non-existent in financial markets without interest rate controls. However, recent literature on credit rationing contend that credit rationing is still possible to prevail in financial markets which have been freed from interest rate controls if asymmetric information exists in the market. This study is, thus, primarily aimed at providing empirical support for the existence of credit rationing in a financial system without interest rate controls. Specifically, this study established the existence of credit rationing in the rural financial markets of the Philippines and looked into the rationing mechanisms applied by different types of banks in allocating credit. The intensity and incidence of credit rationing were likewise compared among the three types of banks, namely: branches of commercial banks (KBs), private development banks (PDBs), and rural banks (RBs). On the basis of the findings of the study, it can be concluded that credit rationing is still being practiced (at least in 1986) by all types of banks even though the interest rates have been deregulated. Analysis of the data and the subsequent tests undertaken showed that the strong credit rationing behavior which entails outright rejection of borrowers was very prevalent among KBs and PDBs, while the weak credit rationing behavior or quantity rationing, both in intensity and incidence, was very strong in RBs. The results of tests on intensity and incidence of quantity rationing suggested that RBs and PDBs were biased against small and new borrowers and against long-term loans.Item Restricted Employment effects on the agricultural industries of a change in the final demand in the manufacturing industries(1981-10-23) Lapar, Ma. Lucila A.; YƱiguez, Divinia M.; Alonzo, Ruperto