01716cas a2200241 a 4500 AALejournalIMF007569 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451981704 1018-5941 BD-DhAAL BD-DhAAL Nascimento, Jean-Claude. The Crisis in the Financial Sector and the Authorities' Reaction : The Case of the Philippines / Jean-Claude Nascimento. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (72 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper discusses the crisis in the Philippines financial sector that began on a limited scale in 1981 and culminated in a significant contraction of the financial system in 1986. The causes, manifestation and transmission mechanism of the crisis are analyzed and reactions of the authorities to the crisis are examined. The main conclusion is that weaknesses of the regulatory framework and loose banking practices provoked and exacerbated the crisis, while the political and economic climate during 1979-83 also played a key role. In the end, the authorities' interventions to contain the crisis was sucessful but costly. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1990/026 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/026/001.1990.issue-026-en.xml IMF e-Library