Abstract
Modern payment systems have transformed both the technology of banking and made possible numerous changes in the strategy and structure of financial services organisations, including central banks. By applying innovation theory to this study of payment systems, we can show how such a broad change, replete with intricacies, could be conceptualised, designed, implemented and disseminated. In this book, we examine the relevant theories of innovation and provide a review of the strategic approaches to establishing efficient payment systems. We set up the story of the diffusion of payment innovations, the building of capabilities in banking, and consider future challenges.
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- 1.
The number of Asian countries that have participated in the IMF/World Bank FSAP have increased since 2001. The inclusion and disclosure of assessment results of payment and securities settlement systems are subjected to the consent of member economies. See http://www.imf.org
- 2.
EMEAP members include Australia, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore and Thailand. SEACEN members include Brunei Darussalam, Cambodia, Fiji, Indonesia, Korea, Malaysia, Mongolia, Myanmar, Nepal, Papua New Guinea, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.
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© 2009 Physica-Verlag Heidelberg
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Khiaonarong, T., Liebenau, J. (2009). Introduction. In: Banking on Innovation. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-7908-2333-2_1
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DOI: https://doi.org/10.1007/978-3-7908-2333-2_1
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