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A Framework for Regional Banking Regulation in ASEAN

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  • Peter J. Morgan

    (Asian Development Bank Institute Kasumigaseki 3-2-5, Chiyoda-ku Tokyo, Japan 100-6008)

Abstract

This paper argues that there is a role for regional-level institutions of banking regulation in the ASEAN region. This is particularly important in an environment of increasing financial integration and harmonization, including exposures to shocks from volatile capital flows and cross-border banking institutions. The paper examines four aspects of financial regulation: microprudential regulation, macroprudential regulation, resolution capacity and deposit insurance, and a financial safety net. The paper argues that EU regional banking regulation provides a useful reference point, but the lower degree of credit market openness in ASEAN implies that a more nuanced approach can be adopted, and makes specific recommendations.

Suggested Citation

  • Peter J. Morgan, 2020. "A Framework for Regional Banking Regulation in ASEAN," Asian Economic Papers, MIT Press, vol. 19(3), pages 111-125, Fall.
    • Handle: RePEc:tpr:asiaec:v:19:y:2020:i:3:p:111-125
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    File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/asep_a_00792
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    References listed on IDEAS

    as
    1. Sussangkarn, Chalongphob, 2010. "The Chiang Mai Initiative Multilateralization: Origin, Development and Outlook," ADBI Working Papers 230, Asian Development Bank Institute.
    2. Masahiro Kawai & Peter J. Morgan, 2014. "Regional financial regulation in Asia," Chapters, in: Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), New Global Economic Architecture, chapter 6, pages 112-147, Edward Elgar Publishing.
    3. Andrés Fernández & Michael W Klein & Alessandro Rebucci & Martin Schindler & Martín Uribe, 2016. "Capital Control Measures: A New Dataset," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(3), pages 548-574, August.
    4. repec:tpr:journl:edfpol:v:14:y:2015:i:2:p:71-90 is not listed on IDEAS
    5. Chalongphob Sussangkarn, 2010. "The Chiang Mai Initiative Multilateralization : Origin, Development and Outlook," Governance Working Papers 22821, East Asian Bureau of Economic Research.
    6. Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), 2014. "New Global Economic Architecture," Books, Edward Elgar Publishing, number 15654.
    7. Chalongphob Sussangkarn, 2017. "Managing Economic Stability under Volatile Capital Flows: East Asia Perspectives," Asian Economic Papers, MIT Press, vol. 16(1), pages 174-192, Winter/Sp.
    8. Deunden Nikomborirak, 2015. "The ASEAN Economic Community (AEC): Myths and Realities," Asian Economic Papers, MIT Press, vol. 14(2), pages 71-90, Summer.
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    Cited by:

    1. Miriam Goetz, 2024. "Multinational Lending Retrenchment after the Global Financial Crisis: The Impact of Policy Interventions," Journal of Financial Services Research, Springer;Western Finance Association, vol. 66(1), pages 51-75, August.

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