Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/128565
Authors: 
Burger, John D.
Warnock, Francis E.
Warnock, Veronica Cacdac
Year of Publication: 
2015
Series/Report no.: 
ADB Economics Working Paper Series 448
Abstract: 
We describe and assess two dimensions of the current state of bond market development in developing Asia: the role of bond markets in overall financial systems and a comparison of the salient features of bond market development in developing Asia and other regions. We highlight key drivers and constraints of bond market development in developing Asia, particularly in smaller economies, as well as key implications for policymakers, especially for promoting bond market development in the region. Our analysis suggests that high inflation volatility presents a serious obstacle to bond market development. We find that smaller developing Asian economies could enable bond market development by pursuing creditor friendly policies and strengthening the legal rights of borrowers.
Subjects: 
bond market
financial development
financial system
JEL: 
G10
G15
F30
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo/
Document Type: 
Working Paper

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