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Foreign Bond Markets and Financial Market Development: International Perspectives


  • Jonathan A. Batten
  • Warren P. Hogan
  • Peter G Szilagyi


The domestic bond markets of the Asia and Pacific region have grown considerably since the Asian financial crisis of 1997, although they remain undeveloped relative to the region’s weight in the world economy. This paper proposes that in order to encourage further development of these markets, regulators should make them more accessible to foreign borrowers. [ADBI Working Paper 173]

Suggested Citation

  • Jonathan A. Batten & Warren P. Hogan & Peter G Szilagyi, 2010. "Foreign Bond Markets and Financial Market Development: International Perspectives," Working Papers id:3042, eSocialSciences.
  • Handle: RePEc:ess:wpaper:id:3042 Note: Institutional Papers

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    References listed on IDEAS

    1. Kristin J. Forbes, 2005. "Capital Controls: Mud in the Wheels of Market Efficiency," Cato Journal, Cato Journal, Cato Institute, vol. 25(1), pages 153-166, Winter.
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    7. Chakraborty, Shankha & Ray, Tridip, 2006. "Bank-based versus market-based financial systems: A growth-theoretic analysis," Journal of Monetary Economics, Elsevier, vol. 53(2), pages 329-350, March.
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    17. Jonathan A. Batten & Warren P. Hogan & Peter G. Szilagyi, 2011. "The Role of Foreign Bond Issuance: The Case of Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 44(1), pages 36-50, March.
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    Cited by:

    1. Paul Mizen & Serafeim Tsoukas, 2014. "What promotes greater use of the corporate bond market? A study of the issuance behaviour of firms in Asia," Oxford Economic Papers, Oxford University Press, vol. 66(1), pages 227-253, January.
    2. Morgan, Peter J. & Lamberte , Mario, 2012. "Strengthening Financial Infrastructure," ADBI Working Papers 345, Asian Development Bank Institute.

    More about this item


    domestic; bond markets; Asia; Pacific; economy; markets;

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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