ASEAN Regional Financial Cooperation Developments in Banking and Finance: Developments in Banking and Finance
Michael T. Skully
ISEAS Occasional Paper Libro 56 · Institute of Southeast Asian
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Though political and trade matters have generally received the greatest attention in ASEAN related discussions, cooperation in ASEAN banking and financial matters is increasingly cited as a major goal. A variety of regional effeorts having been made at both government and private sector levels, this paper examines some of these developments to date, surveying not only the government and industry or professional association activities but also the efforts of foreign and local owned firms as well as the importance of the Asian Dollar Market in this development. Finally, from the comparison of the individual ASEAN members' financial sectors, some of the difficulties that lie ahead in the area of ASEAN financial cooperation are discussed.
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Michael T. Skully is curently a Visiting Lecturer in Banking and Finance at Nanyang University in Singapore and a Lecturer in Finance at the University of New South Wales, Australia. He is a frequent contributor of papers and articles on banking and other financial topics concerning Asian countries in both regional and international publications.
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