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Creating an Association of Southeast Asian Nations Payment System: Policy and Regulatory Issues

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  • Khiaonarong, Tanai

    (Asian Development Bank Institute)

Abstract

The 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.

Suggested Citation

  • Khiaonarong, Tanai, 2013. "Creating an Association of Southeast Asian Nations Payment System: Policy and Regulatory Issues," ADBI Working Papers 422, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0422
    as

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    File URL: http://www.adbi.org/files/2013.05.20.wp422.asean.payment.system.policy.regulatory.issues.pdf
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    References listed on IDEAS

    as
    1. World Bank, 2011. "Payment Systems Worldwide - A Snapshot : Outcomes of the Global Payment Systems Survey 2010," World Bank Publications - Reports 12813, The World Bank Group.
    2. Joshua Felman & Simon Gray & Mangal Goswami & Andreas A. Jobst & Mahmood Pradhan & Shanaka Peiris & Dulani Seneviratne, 2014. "ASEAN-5 bond market development: Where does it stand? Where is it going?," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 28(1), pages 60-75, May.
    3. Heiko Schmiedel, 2007. "The economic impact of the Single Euro Payments Area," Occasional Paper Series 71, European Central Bank.
    4. repec:zbw:bofrdp:2012_019 is not listed on IDEAS
    5. 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.
    6. Humphrey, David & Willesson, Magnus & Bergendahl, Goran & Lindblom, Ted, 2006. "Benefits from a changing payment technology in European banking," Journal of Banking & Finance, Elsevier, vol. 30(6), pages 1631-1652, June.
    7. Schmiedel, Heiko, 2007. "The economic impact of the Single Euro Payments Area," Occasional Paper Series 71, European Central Bank.
    8. repec:zbw:bofrdp:2008_011 is not listed on IDEAS
    9. Mr. Simon T Gray & Andreas Jobst & Mr. Joshua Felman & Ana Carvajal, 2011. "Developing Asean5 Bond Markets: What Still Needs to Be Done?," IMF Working Papers 2011/135, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. The SEACEN Centre, 2014. "Analytical Framework In Assessing Systemic Financial Market Infrastructure: Interdependence Of Financial Market Infrastructure And The Need For A Broader Risk Perspective," Research Studies, South East Asian Central Banks (SEACEN) Research and Training Centre, number rp93.

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    More about this item

    Keywords

    asean; payment system; asia-pacific payments market; national payment systems;
    All these keywords.

    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

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