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,...

Prior studies have examined the development of the financial system and its impact on economic growth, but little has been said about the relationship between its four major components: banking, the stock market, the bond market (private and public bond) and insurance (life and nonlife). Using a...