Bond Market Development in Asia: An Empirical Analysis of Major Determinants

Biswanath Bhattacharyay

No 300, ADBI Working Papers from Asian Development Bank Institute

Abstract: One of the reasons behind the financial crisis in 1997 was the excessive dependence of Asian economies on commercial banks for domestic financing. Banks were the major source of corporate financing because bond markets were underdeveloped and small. To enhance corporate bond financing, it is important to examine the factors that promote effective development of bond markets. This study attempts to identity the determinants of bond market development in Asian economies, through examining its relationship with selected key financial and economic factors, and to provide policy recommendations for further development.

Keywords: asia bond market; bond market development integration; asia financial crisis; asia banking sector; corporate financing (search for similar items in EconPapers)
JEL-codes: F36 G15 O16 O53 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2011-07-28
New Economics Papers: this item is included in nep-fmk and nep-sea
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Citations: View citations in EconPapers (8)

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Related works:
Working Paper: Bond Market Development in Asia: An Empirical Analysis of Major Determinants (2011)
Working Paper: Bond Market Development in Asia: An Empirical Analysis of Major Determinants (2011)
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