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The Development of Local Debt Markets in Asia: An Assessment

Mangal Goswami and Sunil Sharma ()
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Mangal Goswami: Asian Development Bank Institute (ADBI)

Finance Working Papers from East Asian Bureau of Economic Research

Abstract: The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.

Keywords: Debt markets; Asia; financial markets (search for similar items in EconPapers)
JEL-codes: E44 F36 G18 H63 O16 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2011-11
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Related works:
Working Paper: The Development of Local Debt Markets in Asia: An Assessment (2011) Downloads
Working Paper: The Development of Local Debt Markets in Asia: An Assessment (2011) Downloads
Working Paper: The Development of Local Debt Markets in Asia: An Assessment (2011) Downloads
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