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Publication Detail
SP 1982-02: Credit and Price Policies in the Philippine Agriculture

Credit has been a major instrument used in the pursuit of agricultural development in the Philippines. As a result of the Rural Bank Law enacted in the early fifties, financial institutions catering to the rural sector have grown. While there are more than a thousand rural banks operating in about 60 percent of municipalities, this paper argues that the government’s objective of increasing the credit flow to agriculture has been hampered by low interest rate policies. It is argued that the use of credit policies to compensate for the effects of policies that turn terms of trade against food and agricultural exports will have limited effects. Hence, interest rate subsidies have not significantly altered the unfavorable economic incentives in agriculture.

Philippine Institute for Development Studies
Authors Keywords
David, Cristina C.; agriculture sector; credit policy; credit program; credit market; credit access;
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Published in 1982 and available in the PIDS library or Downloaded 485 times since November 25, 2011
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