This paper examines ex-post solutions to the recent financial crisis. It is noted that the standard prescriptions of budgetary cuts, tax increases, currency depreciation and high interest rates were not effective. To avoid future crisis and in the context of an open capital market, the paper...

This paper attempts to assess the development and growth of secondary markets in securities in the SEACEN region up until June 1990, including an overview of the structure and characteristics of secondary markets in securities. The paper also discusses the basic conditions for developing...

This paper introduces the basic types of tax treatment of financial instruments, and outlines the main features of tax treatment of financial instruments in the SEACEN countries. The results of empirical studies on the effects of taxation on savings and some policy implications are also presented.

This paper addresses the need for cooperation in central banking and traces the evolution of the research and training activities of The SEACEN Centre. It discusses the successor generation of central bankers; resources for cooperation in central banking; lessons learned; and, a vision of growth...

This paper examines some of the important guidelines, such as the degree of openness, extent of import and export diversification, level of financial development and integration, the domestic price stability and international competitiveness, with regard to the experience of the SEACEN...

Interest rates as a policy instrument in the SEACEN countries is discussed in this paper. It also provides some insights on the interest rate trends of major industrialized countries.

The privatisation of public sector enterprises is one activity in the 1980s which has caught the enthusiasm of both the developed and developing countries, including the SEACEN member countries. This study provides some general understanding of the on-going privatisation efforts of the SEACEN...

The three articles selected for inclusion in the Journal’s first edition by the Journal’s Editorial Board reflect the broad range of issues that relate to financial stability. Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, has contributed a thought-provoking article on the...

The main objective of this high-level Conference was to bring together senior staff of SEACEN member central banks to discuss the future role of the central bank in supporting adjustments in the growth strategy for Asia in response to lessons from the GFC. The discussions were fruitful and the...

The payment and settlement systems play a core intermediating function and operate as the “plumbing system” for financial markets to help ensure swift, safe and seamless flow of funds from one payment participant to another. Smooth and certain settlement of payments would reduce risks,...