Developing the Market for Local Currency Bonds by Foreign Issuers: Lessons from Asia

Tobias C. Hoschka ()
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Tobias C. Hoschka: Asian Development Bank

No 63, ADB Economics Working Paper Series from Asian Development Bank

Abstract: This paper surveys the experience of countries in the East Asian region that have introduced local currency bonds by foreign issuers. The countries that are examined include Australia; Hong Kong, China; Japan; Republic of Korea; and Singapore. It is suggested that there are sound reasons for many countries to develop the market for foreign issuers. Benefits and potential issues are analyzed, development policies are reviewed, and concrete policy options are discussed for those countries that are currently considering opening their domestic markets to foreign issuers.

Keywords: development policies; East Asian region; foreign issuers; local currency bonds; market development (search for similar items in EconPapers)
JEL-codes: G15 G23 G24 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2005-02-01
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Persistent link: https://EconPapers.repec.org/RePEc:ris:adbewp:0063

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