ASEAN financial authorities face an era of compounding, novel risks, which also come with opportunities for structural transformations. Welfare and economic growth in the region increasingly depend on the capacity to manage long-term structural change – from the cost-of-living crisis and more frequent extreme weather events to the digitalisation of finance, population ageing, climate transitions, and accelerating technological change. These forces interact and amplify one another.
This policy brief was jointly prepared by Julia Bingler, Senior Fellow at the Council on Economic Policies; Aziz Durrani, Team Lead & Senior Technical Assistant Specialist at AMRO; and Cynyoung Park, Executive Director of the South East Asian Central Banks (SEACEN) Research and Training Centre.