European Parliament Library

Philippines :, Selected Issues

Abstract
This Selected Issues paper examines the interaction between real and financial cycles in the Philippines and their relationship to the global financial cycle. It finds that the surge in capital inflows between 2010 and mid-2013 can largely be explained by global financial factors such as global risk aversion, with exchange rate expectations and domestic fundamentals playing a secondary role. Moreover, local bond yields and retail bank rates seem to be driven by the same global factors and the U.S. term premiums. The paper suggests that the quantitative impact of VIX shocks on domestic demand via capital flows and asset repricing and of changes in the U.S. 10-year Treasury bond yields on bank credit and investment, are significant
Language
eng
Literary form
non fiction
Physical description
1 online resource (68 pages), illustrations (some color), tables.
Specific material designation
remote
Form of item
online
ISBN
9781513550237

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