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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]

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Paper provided by eSocialSciences in its series Working Papers with number id:3042.

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Date of creation: Oct 2010
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Handle: RePEc:ess:wpaper:id:3042
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  1. John D. Burger & Francis E. Warnock, 2004. "Foreign participation in local-currency bond markets," International Finance Discussion Papers 794, Board of Governors of the Federal Reserve System (U.S.).
  2. Barry Eichengreen & Pipat Luengnaruemitchai, 2004. "Why Doesn't Asia Have Bigger Bond Markets?," NBER Working Papers 10576, National Bureau of Economic Research, Inc.
  3. Robert McCauley & Guorong Jiang, 2004. "Diversifying with Asian local currency bonds," BIS Quarterly Review, Bank for International Settlements, September.
  4. 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.
  5. Masahiro Inoguchi, 2007. "Influence of ADB Bond Issues and US Bonds on Asian Government Bonds ," Asian Economic Journal, East Asian Economic Association, vol. 21(4), pages 387-404, December.
  6. Julia Leung, 2006. "Developing bond markets in Asia: experience with ABF2," BIS Papers chapters, in: Bank for International Settlements (ed.), Developing corporate bond markets in Asia, volume 26, pages 74-79 Bank for International Settlements.
  7. Hans J. Blommestein & Javier Santiso, 2007. "New Strategies for Emerging Domestic Sovereign Bond Markets," OECD Development Centre Working Papers 260, OECD Publishing.
  8. Kee-Hong Bae & Young Sup Yun & Warren Bailey, 2006. "Determinants of bond holdings by foreign investors," BIS Papers chapters, in: Bank for International Settlements (ed.), Asian bond markets: issues and prospects, volume 30, pages 102-128 Bank for International Settlements.
  9. Blommestein Hans J & Santiso Javier, 2007. "New Strategies for Emerging Domestic Sovereign Bond Markets in the Global Financial Landscape," Global Economy Journal, De Gruyter, vol. 7(2), pages 1-58, June.
  10. 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, 03.
  11. 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.
  12. Camilo E. Tovar & Myriam Quispe-Agnoli, 2008. "New financing trends in Latin America : an overview of selected issues and policy challenges," Economic Review, Federal Reserve Bank of Atlanta.
  13. Honda, Etsuro, 2003. "Financial deregulation in Japan," Japan and the World Economy, Elsevier, vol. 15(1), pages 135-140, January.
  14. Guorong Jiang & Robert McCauley, 2004. "Asian local currency bond markets," BIS Quarterly Review, Bank for International Settlements, June.
  15. Richard J. Herring & Nathporn Chatusripitak, 2000. "The Case of the Missing Market: The Bond Market and Why It Matters for Financial Development," Center for Financial Institutions Working Papers 01-08, Wharton School Center for Financial Institutions, University of Pennsylvania.
  16. Jonathan A. Batten & Peter G. Szilagyi, 2007. "Domestic Bond Market Development: The Arirang Bond Experience in Korea," World Bank Research Observer, World Bank Group, vol. 22(2), pages 165-195, September.
  17. Paul Lejot & Douglas Arner & Liu Qiao, 2006. "Missing Links: Regional Reforms for Asia's Bond Markets," Asia Pacific Business Review, Taylor & Francis Journals, vol. 12(3), pages 309-331, July.
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