Open AccessFators affecting the financial integration process in Asean
Author(s) -
Anh-Tuan Nguyen
Publication year - 2016
Publication title -
khoa học công nghệ
Language(s) - English
Resource type - Journals
ISSN - 1859-0128
DOI - 10.32508/stdj.v19i1.524
Subject(s) - financial integration , business , capital market , finance , indirect finance , capital (architecture) , capital account , openness to experience , financial capital , liberalization , investment (military) , financial system , control (management) , financial sector development , financial market , politics , economics , financial sector , market economy , human capital , psychology , social psychology , management , archaeology , political science , law , history
ASEAN Financial Integration since 2015 will facilitate financial service and capital account liberalization, develop capital market and build a common payment system. Success of transnational financial cooperation is determined by a plenty of factors and requires a careful preparation by member countries. This paper analyzes and tests factors affecting the financial integration process in ASEAN such as size, capital control, development level, the development of the financial market, political and investment environment and trade openness. The results from principal components analysis (PCA) indicate that the main determinants to the financial integration in ASEAN include income, political and investment environment, capital control and the development of the financial market