Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
Assessing The Legislative Politics In The Making Of The Foreign Bank Liberalization Act, Bing Baltazar C. Brillo
Assessing The Legislative Politics In The Making Of The Foreign Bank Liberalization Act, Bing Baltazar C. Brillo
Journal of Public Affairs and Development
The study is about the dynamics among the actors in the making of the Foreign Bank Liberalization Act or Republic Act 7721. The central issue in the legislation was whether to have a restricted or extensive liberalization of the banking sector. The policy divide was between the Senate-BSO-BAP-resident foreign banks' bloc, which was advocating for a single-mode of entry for foreign banks, and the House-FCCP-the rural-development banks-the academic-business-consumer groups' bloc, which was endorsing a multiple-mode of entry for foreign banks. The Senate-BSP-BAP-resident foreign banks' bloc prevailed since this bloc benefited from three intertwined factors in the legislation process. First, the …