The Crisis in the Financial Sector and the Authorities' Reaction The Case of the Philippines

The paper discusses the crisis in the Philippines financial sector that began on a limited scale in 1981 and culminated in a significant contraction of the financial system in 1986. The causes, manifestation and transmission mechanism of the crisis are analyzed and reactions of the authorities to th...

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Bibliographic Details
Main Author: Nascimento, Jean-Claude
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1990
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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100 1 |a Nascimento, Jean-Claude 
245 0 0 |a The Crisis in the Financial Sector and the Authorities' Reaction  |b The Case of the Philippines  |c Jean-Claude Nascimento 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1990 
300 |a 72 pages 
651 4 |a Philippines 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Credit 
653 |a Commercial banks 
653 |a Distressed assets 
653 |a Banks 
653 |a Finance 
653 |a Financial crises 
653 |a Industries: Financial Services 
653 |a Banks and banking 
653 |a Monetary economics 
653 |a Financial sector policy and analysis 
653 |a Financial institutions 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Micro Finance Institutions 
653 |a Mortgages 
653 |a Money 
653 |a Loans 
653 |a Banks and Banking 
653 |a Bank credit 
653 |a Banking 
653 |a Financial Risk Management 
653 |a Money and Monetary Policy 
653 |a Finance: General 
653 |a Financial Crises 
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989 |b IMF  |a International Monetary Fund 
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028 5 0 |a 10.5089/9781451981704.001 
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082 0 |a 330 
520 |a The paper discusses the crisis in the Philippines financial sector that began on a limited scale in 1981 and culminated in a significant contraction of the financial system in 1986. The causes, manifestation and transmission mechanism of the crisis are analyzed and reactions of the authorities to the crisis are examined. The main conclusion is that weaknesses of the regulatory framework and loose banking practices provoked and exacerbated the crisis, while the political and economic climate during 1979-83 also played a key role. In the end, the authorities’ interventions to contain the crisis was sucessful but costly