Abstract

http://ssrn.com/abstract=1965942
 
 

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The Development of Local Debt Markets in Asia: An Assessment


Mangal Goswami


International Monetary Fund (IMF)

Sunil Sharma


International Monetary Fund (IMF)

November 29, 2011

ADBI Working Paper 326

Abstract:     
The paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.

Number of Pages in PDF File: 30

Keywords: debt markets, emerging Asia

JEL Classification: E44, F36, G18, H63, O16

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Date posted: November 29, 2011  

Suggested Citation

Goswami, Mangal and Sharma, Sunil, The Development of Local Debt Markets in Asia: An Assessment (November 29, 2011). ADBI Working Paper 326. Available at SSRN: http://ssrn.com/abstract=1965942 or http://dx.doi.org/10.2139/ssrn.1965942

Contact Information

Mangal Goswami (Contact Author)
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
Sunil Sharma
International Monetary Fund (IMF) ( email )
IMF-Singapore Regional Training Institute
10 Shenton Way, #14-03
Singapore, 079117
Singapore
+65-62255311 (Phone)
+65-62256080 (Fax)
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