“The Market-Based Road to the Bank” - A Policy Study on the Philippine Regulatory Framework for Microfinance
This study is interested in tracing the process of financial reforms in the Philippines. Starting from the financial liberalization reforms implemented during the 1980s, the research mainly looks at the institutions and organizations involved in the series of events that led to the issuance of the National Strategy for Microfinance, which also led to the creation of the Microfinance Regulatory Framework. ::: The study posits that the Philippine Regulatory Framework for Microfinance was shaped and remains to be guided by market-driven principles of financial liberalization, and as such, the banks are the ones greatly encouraged to develop and grow as microfinance actors in the country’s growing microfinance industry.
Introduction 1. Alternative Views of PAYG as a Social Institution 2. Re-engineering PAYG: The Controversy over the Notional Defind Contribution Reforms 3. The Conventional Interpretation of a Fully Funded Scheme and Capital Theory 4. The Transition from PAYG to FF Schemes 5. The Controversy over the Social Security Surplus 6. The Classical-Keynesian Macroeconomics of Pension Reforms in Closed and Open Economies 7. Classical and Neoclassical Perspectives on the Welfare State and Pensions 8. The Viability of an Ageing Society: A Classical Exploration 9. Summary of the Main Arguments References Index.