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Building local bond markets : an Asian perspective (English)

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  • Building local bond markets : an Asian perspective (English)
  • Alison Harwood
  • World Bank (WB)


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Title Building local bond markets : an Asian perspective (English)
Similar Titles
Material Type Reports
Author(English)

Alison Harwood

Publisher

World Bank (WB)

Date 2000
ISBN 0-8213-4819-1
Language English
File Type Link
Subject Economy < Financial Policy

Abstract

Building local currency bond markets has become an increasingly important topic for emerging market countries, particularly since the Asian financial crisis. This report reviews why countries should consider building local currency corporate bond markets and how to evaluate what is needed and what might be developed. It includes eight country studies: Republic of Korea, Australia, Malaysia, India, Pakistan, Sri Lanka, Bangladesh, and Nepal. It is based on the IFC-sponsored South Asia Debt Market Symposium held in October 1999 in Sri Lanka, which brought together regulators and market participants from around Asia and other parts of the globe to discuss issues in developing local markets. The report is divided into two parts: Part I addresses why and how to develop bond markets. It begins with a chapter describing a framework for evaluating bond market development (which was used to produce the five South Asian country surveys in Chapters 11-15), and summarizes key points from the symposium papers and the South Asian situation. It is followed by presentations on the importance of bond markets and on the risk-management of bonds and the benefits of supranational issuance. Part II consists of country case studies.