Development of Asia-Pacific Corporate Bond and Securitisation Markets

Abstract

Since the Asian financial crisis in 1997–98, policymakers in Asia and the Pacific have put a high priority on bond market development. From 2005 to 2011, the corporate bond market in emerging Asia continued to grow rapidly, even during the 2007–09 crisis. However, during the peak of the crisis, almost all major economies in Asia and the Pacific experienced sharp capital outflows from their domestic bond markets. Credit derivatives and structured credit markets in the region had also exhibited steady growth before 2008, but since then have been slow to develop.

Full publication: Weathering Financial Crises: Bond Markets in Asia and the Pacific

Keywords: local currency bonds, corporate bonds, off-shore bond markets, credit derivatives, structured credits

JEL Classification: E44, G12, G15, G18