Towards a More Open Philippines: Monetary and Exchange Rate Policy

Florian Alburo
Additional contact information
Florian Alburo: School of Economics, University of the Philippines Diliman

No 199106, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: The Philippines has never had a structural experience in export development. Instead of fully departing from protection and import-substitution, export policies were placed on top of existing biases and the country ended up achieving neither export-orientation nor efficient import-substitution. The paper explores two major forces to export promotion. One is exhange rate. It is argued that it is a policy tool available in active export promotion. The experiences of other countries (to which the Philippines has been historically comparable) show how important exchange rate has been. The other is monetary policy. Access to domestic and foreign credits, cost of money and financing availability for exporters are discussed. It is argued that exports should be allowed access to financing from global financial markets. There is something to be said for an Exim-bank for the Philippines whose special effort is putting to bear its resources-financial, technical - into export development. Some policy actions are suggested.

Date: 1991-05
References: Add references at CitEc
Citations:

Published as UPSE Discussion Paper No. 1991-06, May 1991

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:199106

Access Statistics for this paper

More papers in UP School of Economics Discussion Papers from University of the Philippines School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by RT Campos ().