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Financial Liberalization and internal Structure of the Capital Markets: The Philippine Case

If the Philippines is to liberalize successfully, it has to have a low inflation rate. In addition, some forms of regulations are needed to be exercised to ensure people’s confidence in the banking system. These are the paper’s main conclusion as it bring to the fore the analysis of the Philippines’ experience with financial repression and liberalization. Specifically, it examines the traditional financial policies that repressed financial development and the results of financial liberalization efforts. It also examines the failure of efforts to achieve flexibility and increased medium- and long-term capital, even after the switch towards a fully liberalized regime has been made.


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