National Accounts in Philippine Economic History: A Preliminary Report on Data Gathering and Research Trends

This paper aims to lay down the foundation for a research project compiling the historical statistics of the Philippine economy, as part of the Research Unit for Statistical Analysis in Social Science (2003-2008), the Institute of Economic Research, Hitotsubashi University, Tokyo. First, I detail what we have accomplished in the gathering of historical data on the Philippines, mainly from US university libraries and archives. Second, I share what I worked on for part of the research on Philippine foreign trade. Third, a brief review is made of research studies on Philippine national income accounts in Philippine economic history. Fourth, I discuss, tentatively, some historical factors that need to be considered for an accurate estimate of Philippine national income accounts.

The Emergence of Modern Banking System in the Philippines during the American Colonial Period

This paper aims to map the emergence and development of modern banking system in the Philippines during the American colonial period. First, the Philippine foreign trade structure under American rule is briefly surveyed. Second, the process of the enactment of various banking laws and the characteristics of such laws are examined. Third, the emergence and development of the modern banking sector is traced to their important beginnings and tracked in their later stages, and fourth, the roles of foreign exchange banks, commercial banks, and government banks in the export economy are discussed through a critical consideration of certain and exemplary case studies.

The Philippine National Bank and Lending in Agriculture: 1916-1930

This paper examines the distinctive features of the Philippine National Bank, particularly through its lending practices in agriculture. First by examining the enactment and revision of the National Bank Act, the Bank's characteristics as an organization and operations are discussed. Second, the process by which the Bank began its operations and administration of agricultural loans is traced. Third, the 1918 dispute over lending in agriculture is depicted as a striking example of the nature of its banking operations, before presenting the dual structure of agricultural loans provided by the National Bank as the conclusion.