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SEACEN’s Optimal Membership Size

Author

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  • Eufrocinio M. Bernabe, Jr.
  • Dongkoo Chang

Abstract

The paper discusses the determination of SEACEN’s optimal membership size. The theoretical basis is derived mainly from Buchanan’s Economic Theory of Clubs. The operational framework used is an optimization model that maximizes member’s benefits and cost associated with SEACEN membership. The paper defines each member’s benefit in terms of its ability to engage other member central banks as well as opportunities for enhancing manpower competencies through participation in various SEACEN activities. The member’s cost is defined by its share on the average annual operating cost. SEACEN’s output is expressed in terms of activities available to members such as training programs, research activities as well as meetings.

Suggested Citation

  • Eufrocinio M. Bernabe, Jr. & Dongkoo Chang, 2013. "SEACEN’s Optimal Membership Size," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp90.
    • Handle: RePEc:sea:spaper:sp90
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    File URL: http://www.seacen.org/products/702003-100331-PDF.pdf
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    References listed on IDEAS

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    1. Michele Fratianni & John Pattison, 2001. "International Organisations in a World of Regional Trade Agreements: Lessons from Club Theory," The World Economy, Wiley Blackwell, vol. 24(3), pages 333-358, March.
    2. Ng, Yew-Kwang, 1974. "The Economic Theory of Clubs: Optimal Tax/Subsidy," Economica, London School of Economics and Political Science, vol. 41(163), pages 308-321, August.
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