Developing Asian local currency bond markets: Why and how?

Arbeitspapier

This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond markets. The analysis demonstrates that Asian local currency bond markets made substantial gains as a region going into the current global financial crisis. However, we argue that the current financial crisis requires a reassessment of the merits of promoting local currency bond markets and the gains that have been made to date. While most of the initial motivations for encouraging the development of domestic local currency bond markets appear to remain valid, there are some exceptions. However, the degree to which success in the development of these markets will be sustained remains unknown until global financial markets regain tranquility and official interventions into these markets are removed.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ADBI Working Paper ; No. 182

Classification and Topics

• Classification: Wirtschaft ; Financial Aspects of Economic Integration ; International Financial Markets ; Financial Institutions and Services: General ; Financial Institutions and Services: Government Policy and Regulation
• Subject: Internationale Anleihe ; Wechselkursrisiko ; Rentenmarkt ; Finanzmarktkrise ; Kapitalmarktliberalisierung ; Asien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Spiegel, Mark M.
• Event: Veröffentlichung
• (who): Asian Development Bank Institute (ADBI)
• (where): Tokyo
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/53720
• Last update: 10.03.2025, 11:44 AM CET