Electronic Finance: Reshaping the Financial Landscape Around the World

36 Pages Posted: 9 Jun 2001

See all articles by Stijn Claessens

Stijn Claessens

Bank for International Settlements (BIS)

Thomas Glaessner

World Bank

Daniela Klingebiel

World Bank - Policy Unit

Multiple version iconThere are 2 versions of this paper

Date Written: September 2000


Because financial services are highly dependent on technology and well-suited to remote delivery, technological advances and the advent of the Internet are causing dramatic changes in the industry. This revolution could accelerate financial sector development by lowering the costs, increasing the breadth and quality, and widening access to financial services. This paper analyses the changes in the industry and their implications for public policy. It finds that, over the long term, there will be an opportunity to reduce the financial sector safety net and correspondingly prudential regulation and supervision. Over the short term, authorities should be wary to extend the safety net. In addition, competition policy, consumer protection, and consumer education will become more important. Though these issues are more advanced in developed countries, they are quickly becoming more relevant in emerging markets.

Keywords: Financial services, emerging markets, electronic finance, public policy, regulation

JEL Classification: G20, G28, G15, G18, G10

Suggested Citation

Claessens, Stijn and Glaessner, Thomas and Klingebiel, Daniela, Electronic Finance: Reshaping the Financial Landscape Around the World (September 2000). Available at SSRN: https://ssrn.com/abstract=271935 or http://dx.doi.org/10.2139/ssrn.271935

Stijn Claessens (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
CH-4002 Basel

Thomas Glaessner

World Bank

1818 H Street, NW
Washington, DC 20433
United States

Daniela Klingebiel

World Bank - Policy Unit ( email )

1818 H Street NW
Room MC 9-903
Washington, DC 20433
United States
202-473-7470 (Phone)
202-522-2031 (Fax)

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