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Payment and Settlement Systems in the SEACEN Countries


  • Dr. Magno L. Torreja, Jr


The main objectives of this study are to review and analyse the present status of, as well as the recent developments in, domestic and cross-border payments in the SEACEN member countries; and to recommend the measures or roles that the central bank should undertake to ensure the safety and efficiency of the payment and settlement systems (PSS) The study notes that the SEACEN countries are generally moving towards a cashless society as reflected in the significant growths in the use of non-cash payment instruments.However, the electronic-based instruments are still at an early stage of development in several SEACEN countries. This collaborative study was led by Dr. Magno L. Torreja, Jr., Visiting Research Economist from Bangko Sentral ng Pilipinas, and participated by country researchers from all the member banks.

Suggested Citation

  • Dr. Magno L. Torreja, Jr, 2001. "Payment and Settlement Systems in the SEACEN Countries," Research Studies, South East Asian Central Banks (SEACEN) Research and Training Centre, number rp46v2.
  • Handle: RePEc:sea:rstudy:rp46v2

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    References listed on IDEAS

    1. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    2. Eichengreen, Barry & Rose, Andrew & Wyplosz, Charles, 1996. " Contagious Currency Crises: First Tests," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(4), pages 463-484, December.
    3. Reuven Glick & Michael M. Hutchison, 1999. "Banking and currency crises; how common are twins?," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    4. Flood, Robert & Marion, Nancy, 1999. "Perspectives on the Recent Currency Crisis Literature," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 4(1), pages 1-26, January.
    5. Klein, Michael W. & Marion, Nancy P., 1997. "Explaining the duration of exchange-rate pegs," Journal of Development Economics, Elsevier, vol. 54(2), pages 387-404, December.
    6. Jason Furman & Joseph E. Stiglitz, 1998. "Economic Crises: Evidence and Insights from East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 1-136.
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