Transforming Payment Systems: Meeting the Needs of Emerging Market Economies
Sato, Setsuya and David Burras Humphrey

Table of Contents

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Abstract

Introduction

I. Differences in Payment Systems in Centrally-Planned and Market Economies

Introduction
The structure and operation of payments in centrally-planned economies
Payment systems in market economies
Improving the payment system in transitional economies

II. The Payment Cycle: Structure and Choices

Introduction
The structure of the payment cycle
Clearing financial market transactions
Choices in the payment cycle

III. Market Needs and Choices in an Evolving Payment System

Introduction
Payment system choices in market economies: the U.S. and European experience
Market needs in transitional economies

Appendix: Planning for Payment System Improvements

Bibliography