LATEST PUBLICATIONS
PN 2021-09
Gender Perspectives in E-livelihood and E-entrepreneurship
PN 2021-08
Promoting a More Innovative and Inclusive Society through ICT Development
SEARCA MGB 2021 2
Seed Guidebook: Scaling and Expanding for Effective Development the Experiences and Learning from the SEARCA Project ISARD
SEARCA RPCL 2021 6
Microbes for Sustainable Agriculture: Isolation and Identification of Beneficial Soil- and Plant-Associated Microorganisms

LATEST AV MATERIALS
PIDS WB 2021-0903
Annual Public Policy Conference Webinar 2: Ethical Business
PIDS WB 2021-0902
Opening Program and Annual Public Policy Conference Webinar 1: Resetting Capitalism
PIDS WB 2021-0901
19th Development Policy Research Month Kick-Off Forum
PIDS WB 2021-0702
Local Governments' PDP and SDG Localization Efforts as Contribution to National Development
Publication Detail
BSP WPS 2019-03: A Preliminary Assessment of Drivers of Philippine FX Market Liquidity

This study provides a preliminary analysis of liquidity in the Philippine FX market using the FX market illiquidity indicator proposed by Karnaukh et al. (2015). Using an event-study approach, the impact of specific domestic, regional and global developments and shocks on Philippine FX market liquidity were observed. Meanwhile, using econometric analysis, the fundamental factors affecting FX market liquidity were examined. Results revealed that apart from financial market conditions, demand- and supply-side factors likewise influenced Philippine FX market liquidity. These have important policy implications. First, increased global distress can have important ramifications for Philippine financial markets, making continuous monitoring of financial market conditions essential. Second, the BSP has a significant role in mitigating FX market illiquidity, through the implementation of appropriate regulations and support of financial market deepening. Third, developments in the real economy can have important implications for financial markets.

Bangko Sentral ng Pilipinas
Authors Keywords
Moreno, Ramon ; Parcon-Santos, Hazel C.; Hallig, John Michael Rennie, G. ; foreign exchange market, drivers, liquidity, illiquidity, Philippines;
Download PDF Number of Downloads
Published in 2019 and available for Downloaded 45 times since July 15, 2020
×
Please let us know your reason for downloading this publication. May we also ask you to provide additional information that will help us serve you better? Rest assured that your answers will not be shared with any outside parties. It will take you only two minutes to complete the survey. Thank you.


To use as reference:
If others, (Please specify):
Name: (optional)
Email: (required, but will not display)
Age:
Gender:
If Prefer to self-describe, please specify:
Level of Education:
Occupation:
If employed either part-time or full-time, name of office:
If others, (Please specify):
Would you like to receive the SERP-P UPDATES e-newsletter? Yes No
Use the space below if you have any comment about this publication or SERP-P knowledge resources in general.