Abstract:

The link between the financial sector and economic growth has been debated in the literature for over a hundred years and the problems in the banking sector are always reflected in the economy. In a world where economic growth is stagnating, Asia’s emerging economies stand out. As a dynamic, banking systems in emerging countries have undergone spectacular changes in recent decades. Our paper presents the characteristics of the banking systems in Asian emerging market economies and explores the role of banks in the development of emerging economies, particularly that of ASEAN economies in order to provide a possible explanation for the significant growth rates experienced by these countries. We focus on digital technology and how customers in the ASEAN embrace digital and mobile banking, trends that will affect the industry’s regional landscape.