New Publication Update
Posted on 31 January 2020
 
Rogelio Mercado, Senior Economist at the SEACEN Centre, has published a paper entitled: "Are Capital Inflows Expansionary or Contractionary in the Philippines" at the Journal of Asian Economics. A working paper version was released as SEACEN WP27/2017. Click to read more.
 
The paper shows the following:
•    Both bonds and non-bond capital inflows are expansionary to output and credit growth in the Philippines;
•    For bond inflows, a positive impact was found for the short term while no effect was evident for the long term;
•    For non-bond inflows, the short-term impact on output and credit was significantly greater, but this was followed in the medium term by a negative impact on output.
 


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