The crash of Wall Street on October 19, 1987, also called the “Black Monday”, has educed varied global reactions. In reviewing its general impact to the Philippine economy, Dr. Manuel Montes notes that it is hardly surprising that local stock markets echo the crisis in Wall Street, though probably in a lesser degree. If a slowdown in economic growth in the US and other major countries occur, there will be a dampening effect on revenues from Philippine exports to these countries.
