Bond Market Development in Developing Asia

John Burger, Francis Warnock and Veronica Warnock

No 448, ADB Economics Working Paper Series from Asian Development Bank

Abstract: We describe and assess two dimensions of the current state of bond market development in developing Asia: the role of bond markets in overall financial systems and a comparison of the salient features of bond market development in developing Asia and other regions. We highlight key drivers and constraints of bond market development in developing Asia, particularly in smaller economies, as well as key implications for policymakers, especially for promoting bond market development in the region. Our analysis suggests that high inflation volatility presents a serious obstacle to bond market development. We find that smaller developing Asian economies could enable bond market development by pursuing creditor friendly policies and strengthening the legal rights of borrowers.

Keywords: bond market; financial development; financial system (search for similar items in EconPapers)
JEL-codes: F30 G10 G15 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2015-09-01
New Economics Papers: this item is included in nep-fmk and nep-sea
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:adbewp:0448

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