An Analysis of the Money and Banking Sector of the Philippines during the Japanese Occupation (1941-1945)

Date

6-2024

Degree

Bachelor of Science in Agribusiness Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Luisito C. Abueg

Committee Member

Emmanuel Genesis T. Andal, Gideon P. Carnaje, Ma. Angeles O. Catelo

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Abstract

The Japanese Occupation altered the Money and Banking Sector of the Philippines to aid its war efforts through the control of Philippine money and banks. Studies about the Japanese Occupation detailed mostly personal and military war accounts, causes and effects of money and banking during the Occupation are described but not detailed as those of the Spanish and American Occupations in the Philippines. This study describes and analyzes the money and banking sector of the Philippines during the Japanese Occupation by adopting an institutional analysis framework of Dorward and Omamo which is in line with the New Institutional Analysis of Douglass North. The objectives of this study are to describe the roles and functions of banks and determine and analyze the institutional changes of banks during the Japanese Occupation. Inflation was the main outcome of Japanese changes in money and banking of the Philippines, printing unbacked money to support their war. As a consequence of inflation fueled by the war and coercion, Filipinos suffered from hunger and poverty and resulted to extreme measures to survive. Furthermore, the Philippine economy became a target of Currency Warfare which further increased inflation. Confusion and loss of property were the consequence of institutional change as money produced during the Occupation became worthless after the war.

Language

English

LC Subject

Occupation currency, Japanese, Institutional economics

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2024 E2 C44

Notes

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Document Type

Thesis

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