INSEAD Library

Includes bibliographical references and index

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Small Savings Mobilization and Asian Economic Development The Role of Postal Financial Services Contents List of Tables and Figures Foreword by Eiji Hosoda, Keio University Foreword by Ian Kinniburgh, United Nations­DESA Preface by Mark J. Scher Acknowledgments Part 1: Postal Savings for Development 1. Introduction: Overview and Summary of Policy Proposals for Postal Savings in Developing Countries Mark J. Scher with Naoyuki Yoshino 2. Policy and Management Issues Confronting Postal Financial Services Today Mark J. Scher The Evolution of Postal Savings The Origins of a Global Postal Network Creation of Postal Savings and Giro Remittance Services Postal Savings for the People The Public's Confidence in Postal Savings International Giro: Safe and Cost-Effective Remittances The Changing Economics of the Posts: Market Liberalization, Privatization, Cross-Border Entry and Acquisition Market Liberalization: New Technologies and Privatization The Charge of "Cross-Subsidization" as a Threat to Public Savings Institutions Cross-Border Entry: The Express Package Delivery Wars Financial Services through the Postal Infrastructure Current Situation Governance Structures of the Posts ix xi xiii xv xix 3 21 21 21 21 23 24 25 28 29 32 34 36 36 36 Postal Systems and "Postbanks": Creation, Separation, Privatization, and Synergies of Reintegration Postbank Creation and Separation from the Post Loss of Postal Network and Savings Services after Privatization Commercial Bank Strategies Replace Savings Linked to Development Tackling the Problem of Financial Exclusion Transition Economies and Privatization: Bailouts at Public Expense The Private Sector Finds Opportunities in Postal Financial Services Restoring Synergies: The Reintegration of Postbanks and Postal Services 3. Asian Experiences in Postal Savings Mark J. Scher Introduction The Legacy of Colonialism Post-Independence: Mobilizing Savings Management and Competition Issues in Asian Systems The Organization of Postal Savings: Four Models National Savings Organization: The Case of India Postal Savings and Remittance Bureau: The Case of China Linking Savings to Postal Payments: The Case of Kazakhstan National Savings Banks: The Cases of Malaysia, Singapore, and Sri Lanka Agency Problems: Disincentives to Mobilizing Savings Are Postal Savings in Competition with Commercial Banks? The Case of Japan Financial Technology: Choosing Appropriate Systems Mobilizing Savings: Product Development and Market Analysis Postal Savings in Rural Areas: Making a Link to Credit Overseas Remittances via the Posts 55 55 55 55 57 57 58 59 59 60 62 64 66 69 69 71 41 41 42 43 46 49 50 52 The Intermediation and Investment of Mobilized Savings Mobilized Postal Savings Funds and Economic Development Is Financial Market Investment a Realistic Option for Placing Postal Savings? Is Tax Exemption Necessary in Mobilizing Funds? Part 2: Asian Country Case Studies The Postal Savings Bureau Model 73 74 75 76 4. Developing Postal Savings in China Peng Min'an 79 5. Postal Savings as a Financial Intermediary in the Republic of Korea Chan Ki Nam 93 6. Postal Banking and the Financial Crisis in the Republic of Korea: Policy Strategy Proposals for the Postcrisis Era Jae Seog Park and Chan Ki Nam 109 7. Policy Challenges and the Reform of Postal Savings in Japan Mark J. Scher and Naoyuki Yoshino 121 National Savings Organization and the Post Office Savings Bank Model 8. The National Savings Organization and the Status of Small Savings in India Dhirendra Swarup and Anil Bhattacharya Appendix: National Savings Organization Plans Offered through the Post Office Savings Bank 9. The Post Office Savings Bank of India Ashok Pal Singh National Savings Bank Model 1 0 . P o s t a l S a v i n g s i n S r i L a n k a Eastman Narangoda New Postal Savings Start-Ups in Asian Transitional Economies 11. Report on the Postal Savings System in the Republic of Kazakhstan Serikzhan Mambetalin, with Arken Arystanov and Dauren Moldagaliyev 183 147 163 167 199 12. Vietnam's Postal Savings Service Cao Thi Hoai Duc The Postbank Model 13. The Philippine Postal Savings Bank, A Thrift Bank Evangeline Felix-Racelis Authors' Biographical Notes Index 213 227 251 255