The Father of Filipino Austerity: Central Bank Governor Miguel Cuaderno and Anti-inflationary Ideology in the 1950s
Most economic analysts have argued that the failed currency policy of the Philippine Central Bank during the 1950s prevented the development of a robust export sector. Thisarticle examines the economic thinking that led to the Central Bank’s policies through a reassessment of the ideas of its first...
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| Format: | text |
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Archīum Ateneo
2021
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| Online Access: | https://archium.ateneo.edu/phstudies/vol69/iss4/3 https://archium.ateneo.edu/context/phstudies/article/1103/viewcontent/The_20Father_20of_20Filipino_20Austerity_20_5Bvol._2069_20no._204_20_282021_29_20527_E2_80_9360_5D.pdf |
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| Institution: | Ateneo De Manila University |
| Summary: | Most economic analysts have argued that the failed currency policy of the Philippine Central Bank during the 1950s prevented the development of a robust export sector. Thisarticle examines the economic thinking that led to the Central Bank’s policies through a reassessment of the ideas of its first governor, Miguel Cuaderno. Reading Cuaderno’s memoirs and speeches from the period shows that anti-inflationary beliefs consistent with twentieth-century ideas of austerity informed his thinking. Thearticle hopes to contribute to the literature on “macroeconomic policy regimes” by examining how they are produced and reified through language.KEYWORDS: MIGUEL CUADERNO • AUSTERITY • INFLATION • CURRENCY • DEPRECIATION |
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