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Utilizing qualitative analysis of three measures of operating efficiency, this study attempts to relate the Central Bank’s policies with the behavior of the money market. Results indicate that prior to 1981, the financial market is relatively stable but less efficient. Afterwards, the stability of monetary system has been achieved at the expense of operating efficiency. Clearly, there has been a trade-off between operating efficiency and stability.

Citations

This publication has been cited time(s).

Milo, Melanie S., 2002 "Financial services integration and consolidated supervision: Some issues to consider for the Philippines" , Philippine Institute for Development Studies
Llanto, Gilberto M. and Ponciano S. Intal Jr, 1998 "Financial reform and development in the Philippines, 1980-1997: Imperatives, performance and challenges" , Philippine Institute for Development Studies
Llanto, Gilberto M. and Ponciano S. Intal Jr, 1998 "Financial reform and development in the Philippines, 1980-1997: Imperatives, performance and challenges" , Philippine Institute for Development Studies
David, Cristina, Ponciano Intal Jr. and Eliseo Ponce, 1992 "Organizing for results: the Philippine agricultural sector" , Philippine Institute for Development Studies

Contributor

Philippine Institute for Development Studies

Authors

Lamberte, Mario B. Yap, Josef T. Zingapan, Socorro Untalan, Teodoro S.

Keywords

central bank; money and banking; banking system

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Jul 04, 2013

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Central Bank Policies and the Behavior of the Money Market

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