Browsing by Author "Mori, Isosceles Vincent S."

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    Banking on courts: effects of judicial efficiency on credit market development
    (2006-03) Cirilo, Cherie Mae B.; Mori, Isosceles Vincent S.; Quimbo, Stella Luz
    This paper examines the empirical relationship between the efficiency of the Philippine Judiciary and credit market development using time series data. This study starts by presenting the growing literature and theoretical model, discussing areas of the credit market which the judiciary has a crucial development role in. These two sections then lead us into defining the development of credit market in terms of its size, structure, and efficiency; while judicial efficiency, on the other hand, is analyzed in terms of the judiciary's adequacy of resources and its capacity to dispose cases. Regression results show that the efficiency of the judiciary, together with other macroeconomic variables, does affect credit market development. An improvement in judicial efficiency can lead to better-developed credit market as represented by a larger size of the banking sector and higher credit granted to borrowers.