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Financing the Budget Deficit in a Small Open Economy: The Case of the Philippines, 1981-1986

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  • Gochoco, Maria Socorro H.

Abstract

This paper determines whether or not there is a rule for financing public debt that the public can discern. Specifically, it determines the nature of the “crowding out†effect. It then empirically investigates its impact on the nominal and real interest rates.

Suggested Citation

  • Gochoco, Maria Socorro H., 1988. "Financing the Budget Deficit in a Small Open Economy: The Case of the Philippines, 1981-1986," Working Papers WP 1988-10, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:wpaper:wp_1988-10
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    File URL: https://www.pids.gov.ph/publication/working-papers/financing-the-budget-deficit-in-a-small-open-economy-the-case-of-the-philippines-1981-1986
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    References listed on IDEAS

    as
    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
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    8. Tanner, J Ernest, 1970. "Empirical Evidence on the Short-Run Real Balance Effect in Canada," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 2(4), pages 473-485, November.
    9. Plosser, Charles I., 1982. "Government financing decisions and asset returns," Journal of Monetary Economics, Elsevier, vol. 9(3), pages 325-352.
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    Full references (including those not matched with items on IDEAS)

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    financial sector; financial services;

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