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Opening markets through a regional bond fund: lessons from ABF2

Author

Listed:
  • Guonan Ma
  • Eli M Remolona

Abstract

In creating a regional bond fund, central banks in East Asia and the Pacific worked to reduce impediments in eight local markets. Moreover, they built into the fund's structure an incentive mechanism for reducing impediments further.

Suggested Citation

  • Guonan Ma & Eli M Remolona, 2005. "Opening markets through a regional bond fund: lessons from ABF2," BIS Quarterly Review, Bank for International Settlements, June.
  • Handle: RePEc:bis:bisqtr:0506g
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    References listed on IDEAS

    as
    1. Jeffery D Amato & Jacob Gyntelberg, 2005. "CDS index tranches and the pricing of credit risk correlations," BIS Quarterly Review, Bank for International Settlements, March.
    2. Guorong Jiang & Robert McCauley, 2004. "Asian local currency bond markets," BIS Quarterly Review, Bank for International Settlements, June.
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    Citations

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    Cited by:

    1. Vicente Cuñat, 2009. "Finance for Development: Latin America in a Comparative Perspective. By BARBARA STALLINGS with ROGERIO STUDART," Economica, London School of Economics and Political Science, vol. 76(301), pages 216-217, February.
    2. Hans Genberg, 2006. "Exchange-rate arrangements and financial integration in East Asia: on a collision course?," International Economics and Economic Policy, Springer, vol. 3(3), pages 359-377, December.
    3. Jenifer Piesse & Nitawan Israsena & Colin Thirtle, 2007. "Volatility Transmission in Asian Bond Markets: Tests of Portfolio Diversification," Asia Pacific Business Review, Taylor & Francis Journals, vol. 13(4), pages 585-607, October.
    4. Ramon Moreno, 2006. "The changing nature of risks facing banks," BIS Papers chapters,in: Bank for International Settlements (ed.), The banking system in emerging economies: how much progress has been made?, volume 28, pages 67-98 Bank for International Settlements.
    5. Guonan Ma & Eli Remolona, 2009. "Learning by Doing in Market Reform: Lessons from a Regional Bond Fund," Chapters,in: Towards Monetary and Financial Integration in East Asia, chapter 4 Edward Elgar Publishing.
    6. Robert N. McCauley & Eric Chan, 2009. "Hong Kong and Shanghai: Yesterday, Today and Tomorrow," NBER Chapters,in: Financial Sector Development in the Pacific Rim, East Asia Seminar on Economics, Volume 18, pages 13-37 National Bureau of Economic Research, Inc.
    7. Sebastian Dullien & Barbara Fritz & Laurissa Mühlich, 2013. "Regional Monetary Cooperation: Lessons from the Euro Crisis for Developing Areas?," World Economic Review, World Economics Association, vol. 2013(2), pages 1-1, February.
    8. Már Gudmundsson, 2008. "Near-Term Exchange Rate Flexibility In East Asia: Precursor To Regional Monetary Union?," Pacific Economic Review, Wiley Blackwell, vol. 13(1), pages 62-82, February.
    9. Suresh Sundaresan, 2006. "Developing multiple layers of financial intermediation: the complementary roles of corporate bond markets and banks," BIS Papers chapters,in: Bank for International Settlements (ed.), Developing corporate bond markets in Asia, volume 26, pages 24-30 Bank for International Settlements.
    10. Johansson, Anders C., 2008. "Interdependencies among Asian bond markets," Journal of Asian Economics, Elsevier, vol. 19(2), pages 101-116, April.
    11. Safdar Ullah Khan, 2006. "Macro Determinants of Total Factor Productivity in Pakistan," SBP Research Bulletin, State Bank of Pakistan, Research Department, vol. 2, pages 383-401..
    12. Hans Genberg, 2006. "Exchange-rate arrangements and financial integration in East Asia: on a collision course?," International Economics and Economic Policy, Springer, vol. 3(3), pages 359-377, December.
    13. Marine COUPAUD, 2014. "Contagion Des Crises De 1997 Et 2008 En Asean+3 : Un Modèle Var Structurel," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 40, pages 113-138.
    14. Suresh Sundaresan, 2010. "Development of financial markets in Asia and the Pacific: the international financial crisis and policy challenges," BIS Papers chapters,in: Bank for International Settlements (ed.), The international financial crisis and policy challenges in Asia and the Pacific, volume 52, pages 83-96 Bank for International Settlements.
    15. Peter B. Kenen & Ellen E. Meade, 2006. "Monetary integration in East Asia," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.

    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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