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

Tanai Khiaonarong
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Tanai Khiaonarong: Asian Development Bank Institute

No 422, ADBI Working Papers from 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.

Keywords: asean; payment system; asia-pacific payments market; national payment systems (search for similar items in EconPapers)
JEL-codes: E42 E58 G28 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2013-05-20
New Economics Papers: this item is included in nep-mac and nep-sea
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Citations: View citations in EconPapers (1)

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