Creating an Association of Southeast Asian Nations Payment System: Policy and Regulatory Issues
AbstractThe Association of Southeast Asian Nations (ASEAN) is expected to benefit from the significant growth in the Asia-Pacific payments market. Growth in economic activity would increase the size, scale, and scope of payment transactions. Enabling the scale and scope of payments would in turn increase economic activity. This would also require national payment systems to be regionalized and operate with cross-border and multi-currency capabilities. As existing regional payment arrangements have illustrated how they can be successfully established, ASEAN can itself leverage on its current cooperative forums in creating a more regionalized payment system. This paper assesses the challenges ASEAN faces in doing so.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 422.
Length: 23 pages
Date of creation: 20 May 2013
Date of revision:
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More information through EDIRC
asean; payment system; asia-pacific payments market; national payment systems;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-04 (All new papers)
- NEP-MAC-2013-06-04 (Macroeconomics)
- NEP-SEA-2013-06-04 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Simon Gray & Andreas Jobst & Joshua Felman & Ana Carvajal, 2011. "Developing ASEAN5 Bond Markets: What Still Needs to be Done?," IMF Working Papers 11/135, International Monetary Fund.
- Heinrich, Gregor & García Dubón, Enrique, 2011. "The development of a regional payment system in Central America: A step towards further integration and economic development," MPRA Paper 47398, University Library of Munich, Germany.
- World Bank, 2011. "Payment Systems Worldwide - A Snapshot : Outcomes of the Global Payment Systems Survey 2010," World Bank Other Operational Studies 12813, The World Bank.
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