Up until the first half of 1980s, policy-makers in several countries, including those in the SEACEN region, were reluctant to reduce budget deficit for fear of adversely affecting economic growth through the Keynesian multiplier effect. As a result, high and rising budget deficit was prevalent...

The main objective of the project is to analyse and assess the efficacy of the monetary transmission mechanism (MTM) in the SEACEN countries, in the light of financial liberalisation, globalisation and changing monetary and exchange rate regime in some SEACEN countries. It covers MTM and related...

The main objectives of this study are to review and analyse the present status of, as well as the recent developments in, domestic and cross-border payments in the SEACEN member countries; and to recommend the measures or roles that the central bank should undertake to ensure the safety and...

This study examined policy approaches to payment systems efficiency in the SEACEN countries. Two major findings were as follows. First, cash remained a dominant payment method in a majority of SEACEN countries. A declining trend, however, was found in three countries ¨C Korea, Singapore and...

This paper draws on COIC's experience with deposit-taking institutions during the 1980s and 1990s and presents a number of early warning indicators of financial distress. Early warning indicators do not eliminate bank failures. However, they should lead to early intervention and consequently...

This collaborative project aims to present and compare the latest developments and policies concerning small and medium scale enterprises (SMEs) in SEACEN member economies. In doing so, the focus is placed on central banks¡¯ initiatives and involvement in national policy to promote SME. The...

This collaborative research project aims to review the existing monitoring procedures and reporting practices on external debt in the SEACEN countries, with a view to improving data collection systems in these countries. It also identifies useful indicators for analysis of external debt position...

This paper investigates the macroeconomic factors in predicting the currency crises in a sample of 7 SEACEN countries using the logit econometric models. The empirical results indicate that the variables that may help predict the timing of the currency crises include real US interest rate, ratio...

This study looks into the impact of capital flows that have been prevalent in some SEACEN countries prior to the recent financial crisis and examines the effectiveness of monetary sterilisation. Empirical findings suggest that monetary sterilisation is the most important policy response in...

The purpose of this collaborative research study is to examine the current financing systems for SMIs in the SEACEN countries and to seek ways to strengthen financing for SMIs. The study comprises two parts. The first part covers an overview and policy suggestions. The second part includes the...