Arbeitspapier

India's Bond Market-Developments and Challenges Ahead

While India boasts a world-class equity market and increasingly important bank assets, its bond market has not kept up. The government bond market remains illiquid. The corporate bond market, in addition, remains restrictive to participants and largely arbitrage-driven. Securitization, which once had the jump on other Asian markets, has failed to take off. To meet the needs of its firms and investors, the bond market must therefore evolve. This will mean creating new market sectors such as exchange-traded interest rate and foreign exchange derivatives contracts. It will mean relaxing exchange restrictions, easing investment mandates on contractual savings institutions, reforming the stamp duty tax, and revamping disclosure requirements for corporate public offers. This paper reviews the development and outlook of the Indian bond market. It looks at the market participants-including life insurance, pension funds, mutual funds and foreign investors-and it discusses the importance to development of learning from the innovations and experiences of others.

Sprache
Englisch

Erschienen in
Series: ADB Working Paper Series on Regional Economic Integration ; No. 22

Klassifikation
Wirtschaft
International Lending and Debt Problems
Financial Institutions and Services: Government Policy and Regulation
Business and Securities Law
Economywide Country Studies: Asia including Middle East
Thema
India
emerging East Asia
bond market
securitization
collateralized borrowing and lending obligations (CBLO)

Ereignis
Geistige Schöpfung
(wer)
Schou-Zibell, Lotte
Wells, Stephen
Ereignis
Veröffentlichung
(wer)
Asian Development Bank (ADB)
(wo)
Manila
(wann)
2008

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Schou-Zibell, Lotte
  • Wells, Stephen
  • Asian Development Bank (ADB)

Entstanden

  • 2008

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