The Development of Money Markets in Asia

13 Pages Posted: 18 Jul 2012

See all articles by Mico Loretan

Mico Loretan

Swiss National Bank

Philip D. Wooldridge

Bank for International Settlements (BIS)

Date Written: September 1, 2008


The depth and breadth of money markets in Asia have improved significantly over the past decade, yet many are still characterised by segmentation and a low degree of cross-border integration. Admittedly, the underdevelopment of Asia’s money markets worked to the region’s advantage during the recent turmoil by insulating it to some degree from the shocks that disrupted more developed money markets. Nonetheless, the turmoil provides authorities and market participants in Asia with an opportunity to learn from experiences elsewhere in their efforts to realise the full benefits offered by well functioning money markets.

JEL Classification: E44, E52, E58, F42

Suggested Citation

Loretan, Mico and Wooldridge, Philip D., The Development of Money Markets in Asia (September 1, 2008). BIS Quarterly Review, September 2008, Available at SSRN:

Mico Loretan

Swiss National Bank ( email )

Fraumuensterstr. 8
Zuerich, 8022

Philip D. Wooldridge (Contact Author)

Bank for International Settlements (BIS) ( email )

CH-4002 Basel, Basel-Stadt

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