 Influence of ADB Bond Issues and US Bonds on Asian Government BondsMasahiro Inoguchi Asian Economic Journal, 2007, vol. 21, issue 4, 387-404 Abstract: This article examines whether there is a correlation between the government bond markets of Asian countries and those of the USA, and whether the efforts of international organizations to improve bond markets have had any effect in East Asia. Because the sizes of the government bond markets are larger than those of the corporate bond markets in East Asia, the present paper uses the daily data of government bonds to examine two questions: whether government bond yields in Hong Kong, Singapore and Thailand correlate with US government bond yields, and whether bonds in these Asian countries are influenced by ADB bond issues. The present study analyzes these issues by demonstrating the fluctuations in bond yields and carrying out an estimation using the exponential generalized autoregressive conditional heteroskedasticity model. The results substantiate that there is indeed a correlation between Asian and US bond markets, and that ADB bond issuance in local markets can contribute to the development of Asian bond markets. Date: 2007 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:asiaec:v:21:y:2007:i:4:p:387-404 Ordering information: This journal article can be ordered from Access Statistics for this article Asian Economic Journal is currently edited by Sung Yun-Wing and Shigeyuki Abe More articles in Asian Economic Journal from East Asian Economic Association Contact information at EDIRC. |
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