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Domestic bond markets in Latin America: achievements and challenges

Author

Listed:
  • Serge Jeanneau
  • Camilo E Tovar

Abstract

Domestic bond markets in Latin America have expanded significantly over the past few years. This development should help reduce the region's historical dependence on external financing. Although much progress has been made, vulnerabilities associated with refinancing risk remain and secondary markets still suffer from low liquidity.

Suggested Citation

  • Serge Jeanneau & Camilo E Tovar, 2006. "Domestic bond markets in Latin America: achievements and challenges," BIS Quarterly Review, Bank for International Settlements, June.
    • Handle: RePEc:bis:bisqtr:0606e
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    References listed on IDEAS

    as
    1. Camilo E Tovar, 2005. "International government debt denominated in local currency: recent developments in Latin America," BIS Quarterly Review, Bank for International Settlements, December.
    2. Robert Elsasser & Brian P. Sack, 2004. "Treasury inflation-indexed debt: a review of the U.S. experience," Economic Policy Review, Federal Reserve Bank of New York, issue May, pages 47-63.
    3. Morris Goldstein & Philip Turner, 2004. "Controlling Currency Mismatches in Emerging Markets," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 373, April.
    4. Philip D Wooldridge & Dietrich Domanski & Anna Cobau, 2003. "Changing links between mature and emerging financial markets," BIS Quarterly Review, Bank for International Settlements, September.
    5. Serge Jeanneau & Carlos Perez Verdia, 2005. "Reducing financial vulnerability: the development of the domestic government bond market in Mexico," BIS Quarterly Review, Bank for International Settlements, December.
    6. Guorong Jiang & Robert McCauley, 2004. "Asian local currency bond markets," BIS Quarterly Review, Bank for International Settlements, June.
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    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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