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Papers by Ernesto Bautista
RePEc: Research Papers in Economics, 1992
from UNDP/RBAP and the country offices in the region provided valuable material and comment for t... more from UNDP/RBAP and the country offices in the region provided valuable material and comment for this paper. In particular, we wish to acknowledge the contributions
A major feature of the financial market of most developing countries is the predominance of the i... more A major feature of the financial market of most developing countries is the predominance of the informal financial sector. Also referred to as the noninstitutional or unorganized financial market, the informal financial market covers all financial activities not within the purview of formal
Philippine Journal of Development, 1991
In the nonperformance of the formal financial sector to cater to the needs of some groups, inform... more In the nonperformance of the formal financial sector to cater to the needs of some groups, informal measures have been its substitute. The informal credit system becomes a vital channel of credit to small and poor borrowers and in the mobilization of rural savings through innovative mechanisms. Utilizing the results from various surveys, this article examines how the changes in rural financial markets and changes in agricultural policies have contributed in developing the structure and operation of the Philippine informal credit system.
Philippine Journal of Development, 1993
Analysis of micro-level data confirms the effects of differential technical change on both the de... more Analysis of micro-level data confirms the effects of differential technical change on both the demand and the supply side of rural labor markets. Technical change affects to a certain extent rural migration. However, due to the inability of nonagricultural sector to absorb the increasing labor force, agriculture sector will continue to provide employment opportunities.
The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while th... more The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while the subsidy cost of these is much lower than targeted lending programs, the benefits in terms of additionality of lending is limited, Moreover, because of the operating features of the schemes the benefits have largely accrued to participating banks and program borrowers most of whom have established record of financial transaction or with proven record of creditworthiness. Although credit guarantee mechanisms con tribute in reducing lenders' subjective risk, their potential for enhancing borrowers'credit worthiness will be limited unless other fundamental sources of risks and costs that stem from various policy-induced distortions and imperfections in other markets are simultaneously addressed. Because of the externality effects of imperfect markets a possible role of public policy is the reduction in information cost brought about by developments in other markets. Examples includ...
The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while th... more The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while the subsidy cost of these is much lower than targeted lending programs, the benefits in terms of additionality of lending is limited, Moreover, because of the operating features of the schemes the benefits have largely accrued to participating banks and program borrowers most of whom have established record of
RePEc: Research Papers in Economics, 1992
from UNDP/RBAP and the country offices in the region provided valuable material and comment for t... more from UNDP/RBAP and the country offices in the region provided valuable material and comment for this paper. In particular, we wish to acknowledge the contributions
A major feature of the financial market of most developing countries is the predominance of the i... more A major feature of the financial market of most developing countries is the predominance of the informal financial sector. Also referred to as the noninstitutional or unorganized financial market, the informal financial market covers all financial activities not within the purview of formal
Philippine Journal of Development, 1991
In the nonperformance of the formal financial sector to cater to the needs of some groups, inform... more In the nonperformance of the formal financial sector to cater to the needs of some groups, informal measures have been its substitute. The informal credit system becomes a vital channel of credit to small and poor borrowers and in the mobilization of rural savings through innovative mechanisms. Utilizing the results from various surveys, this article examines how the changes in rural financial markets and changes in agricultural policies have contributed in developing the structure and operation of the Philippine informal credit system.
Philippine Journal of Development, 1993
Analysis of micro-level data confirms the effects of differential technical change on both the de... more Analysis of micro-level data confirms the effects of differential technical change on both the demand and the supply side of rural labor markets. Technical change affects to a certain extent rural migration. However, due to the inability of nonagricultural sector to absorb the increasing labor force, agriculture sector will continue to provide employment opportunities.
The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while th... more The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while the subsidy cost of these is much lower than targeted lending programs, the benefits in terms of additionality of lending is limited, Moreover, because of the operating features of the schemes the benefits have largely accrued to participating banks and program borrowers most of whom have established record of financial transaction or with proven record of creditworthiness. Although credit guarantee mechanisms con tribute in reducing lenders' subjective risk, their potential for enhancing borrowers'credit worthiness will be limited unless other fundamental sources of risks and costs that stem from various policy-induced distortions and imperfections in other markets are simultaneously addressed. Because of the externality effects of imperfect markets a possible role of public policy is the reduction in information cost brought about by developments in other markets. Examples includ...
The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while th... more The Philippine experience on agricultural credit-risk guarantee mechanisms indicate that while the subsidy cost of these is much lower than targeted lending programs, the benefits in terms of additionality of lending is limited, Moreover, because of the operating features of the schemes the benefits have largely accrued to participating banks and program borrowers most of whom have established record of