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Financial Monitoring in the New ASEAN-5 Countries

Author

Listed:
  • Lim, Se Hee

    (Korea Center for International Finance)

  • Reyes, Noel G.

    (Asian Development Bank)

Abstract

This paper examines the issues surrounding the implementation of global regulatory reforms—spearheaded by the G20 and mainly under the aegis of the Financial Stability Board (FSB)—in Brunei Darussalam, Cambodia, the Lao People’s Democratic Republic (Lao PDR), Myanmar, and Viet Nam (BCLMV). These countries are the five newest members of the Association of Southeast Asian Nations (ASEAN). As such, there has been little consideration of the impact of global regulatory reforms on these countries. This paper contributes to the literature by providing an analysis of the capacity of the BCLMV countries to implement necessary financial regulatory reforms. Further, this analysis supplements ongoing efforts to establish the building blocks for the ASEAN Economic Community (AEC), which is scheduled to be implemented by 2015. Toward this end, the paper addresses six key development issues in the CLMV countries: (i) financial regulatory and supervisory systems, (ii) compliance with capital adequacy and liquidity management guidelines under the Basel reforms, (iii) macroprudential surveillance systems, (iv) transparency and disclosure, and (v) capital flow management.

Suggested Citation

  • Lim, Se Hee & Reyes, Noel G., 2014. "Financial Monitoring in the New ASEAN-5 Countries," Working Papers on Regional Economic Integration 134, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0134
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    References listed on IDEAS

    as
    1. Park, Cyn-Young & Majuca, Ruperto & Yap, Josef, 2010. "The 2008 Financial Crisis and Potential Output in Asia: Impact and Policy Implications," Working Papers on Regional Economic Integration 45, Asian Development Bank.
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    Cited by:

    1. Do Van Anh,, 2022. "Does better capitalization enhance bank efficiency and limit risk taking? Evidence from ASEAN commercial banks," Global Finance Journal, Elsevier, vol. 53(C).

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    More about this item

    Keywords

    financial regulatory systems; capital adequacy and liquidity management; Basel reforms; macroprudential surveillance; transparency and disclosure; capital flow; noncore liabilities; BCLMV and ASEAN-5 countries; ASEAN Economic Community;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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