Financial growth and economic development: the Philippines
| dc.contributor.advisor | Hooley, Richard W. | |
| dc.contributor.author | Villanueva, Delano P. | |
| dc.date.accessioned | 2024-07-23T06:11:56Z | |
| dc.date.available | 2024-07-23T06:11:56Z | |
| dc.date.issued | 1966-05-22 | |
| dc.description.abstract | The study discusses the financial aspects of economic development. Using data for the Philippines that cover a decade and a half, it attempts to explain the growth of debt, financial aspects, and financial institutions within the context of real development. The study notes that, in the Philippines, while the proportion of GNP that is externally financed was rising, the proportion that is indirectly financed was also rising and, of course, the proportion that is directly financed was falling. This means that a growing portion of security issues was being sold to the financial system. The accumulations of financial assets have been relatively more and more in the form of indirect securities (liabilities and equities of the financial system), and less and less in the form of primary securities (liabilities of the non-financial sectors, i.e., government, business and individual and foreign sectors). The advance of financial intermediation during the period was uninterrupted; this was due to the steady growth of the monetary system. Within the monetary system, the pace-setters were commercial, savings, and rural banks combined, at the expense of others, notably, the Central Bank. The counterpart of this is that a growing share of monetary indirect financial assets found their way into spending units' portfolios. More- over, the accumulations of these assets have swung toward bank deposits and way from currency. Japan and the Philippines had roughly equal issues-income ratio over a comparable period. In both countries, too, the issues-income ratio showed an uptrend. Likewise, the indirect finance ratios were roughly equal and showed upward trends. This means that the activity of financial intermediaries was of roughly equal importance in the two countries and was increasingly pronounced lately. It is also found that the financial developments of Mexico and the Philippines were generally similar. | |
| dc.identifier.uri | https://selib.upd.edu.ph/etdir/handle/123456789/50 | |
| dc.language.iso | en | |
| dc.subject | Financial growth | |
| dc.title | Financial growth and economic development: the Philippines | |
| dc.type | Thesis |