Electronic Finance: Reshaping the Financial Landscape Around the World

Posted: 8 Mar 2003

See all articles by Stijn Claessens

Stijn Claessens

Bank for International Settlements (BIS)

Thomas Glaessner

World Bank

Daniela Klingebiel

World Bank - Policy Unit

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Abstract

In recent years, the emergence of electronic finance - especially online banking and brokerage services, and new trading systems - has reshaped the financial landscape around the world. This paper reviews these developments and finds that they are greatly impacting the structure of and competition in financial services industries and will have a large impact on incumbents. Its assessment of how e-finance, and globalization more generally, affects countries highlights the need for changes in four financial sector policy areas - safety and soundness, competition policy, consumer and investor protection, and global public policies - to mitigate risks and reap as much as possible the potential benefits of e-finance.

Keywords: E-finance, financial sector development, developing countries, financial sector regulation

Suggested Citation

Claessens, Stijn and Glaessner, Thomas and Klingebiel, Daniela, Electronic Finance: Reshaping the Financial Landscape Around the World. Journal of Financial Services Research, Vol. 22, No. 1 & 2, August/October 2002. Available at SSRN: https://ssrn.com/abstract=382932

Stijn Claessens (Contact Author)

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
CH-4002 Basel
Switzerland

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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