Essai sur les déterminants empiriques de développement des marchés obligataires
No 2009-32, EconomiX Working Papers from University of Paris Nanterre, EconomiX
Based on the methodology adopted by Eichengreen and Luengnaruemitchai (2004), Luengnaruemitchai and Ong (2005), Borensztein and al. (2006), and Eichengreen and al. (2006), this study analyse the development of local bond markets. We show that the development of bond markets is a phenomenon with multiple dimensions. The contribution of our study is threefold. First, we do not limit our analysis to Asian and Latin-American emerging countries, we consider although countries from the Middle East and Africa according to data availability. Then we introduce other factors to better understand the development of bond markets. Finally, we present a dynamic version of the determinants of bond market development.
Keywords: Bond markets; economic factors; institutional factors; economic policy; dynamic panel data; GMM system (search for similar items in EconPapers)
JEL-codes: E44 E62 F34 G15 G28 I20 J24 (search for similar items in EconPapers)
Pages: 34 pages
New Economics Papers: this item is included in nep-ara and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2009-32
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