ABSTRACT
A key element in the overall explanation of the growth record for the Asia-Pacific is the role played by the financial systems in the countries of the region. Financial systems serve to organize the flows of financial resources that are so important for investment and for the general operation of an economy. A modern economy is typified by the degree and sophistication of its financial system: how effectively it facilitates the exchange of goods and services by providing a measure of prices and means of payment function, and how it helps in the organization and allocation of economic resources so as to maximize investment and national income growth.
