| Sumario: | Part of a special section on technology and international policy in the information age. The writer discusses the effect of technology on East Asia's financial development. He discusses technology innovation in East Asia; the growth of financial flows in East Asia and the need for transparency and a sound regulatory infrastructure in Asian financial markets; regional development of electronic payment systems; linkage between payment systems and other clearing and settlement systems; the creation of an Asian Monetary Network, which is a conceptual network that would permit participants to communicate simultaneously, stay well informed of market developments, and discuss and respond to emergencies; the regional linkage of payment and settlement systems and the development of AsiaClear—the concept of linking Asian debt clearing and settlement systems—as important first steps toward the creation of a viable Asian Monetary Network; and the importance of market infrastructure to support financial integration.
|
|---|