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Further Reforms of the JGB Market for the Promotion of Regional Bond Markets

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  • Rhee, S. Ghon

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  • Rhee, S. Ghon, 2001. "Further Reforms of the JGB Market for the Promotion of Regional Bond Markets," CEI Working Paper Series 2001-14, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hitcei:2001-14
    Note: This paper was presented at the conference on Designing Financial Systems in East Asia and Japan: Toward a Twenty-First Century Paradigm. This two-day conference was co-organized by the International Monetary Fund and the CEI. It was held during September 24-25, 2001 at Hitotsubashi Memorial Hall in Tokyo, Japan. A select group of academics, researchers and policy makers from around the world gathered to examine the timely issue of how the financial systems and corporate governance in East Asia and Japan should be redesigned in order to achieve sustainable economic development. The conference included six sessions with 17 papers. All the presented papers were added to the CEI series of working papers. The series, as well as the contents of the conference, can be reached at http://cei.ier.hit-u.ac.jp., First Draft: March 2000; Revised: January 2001; Revised: May 2001; Revised: June 2001; Revised: October 2001, This is a revised and updated version of an earlier paper entitled, "Further Reforms after the "BIG BANG": The Japanese Government Bond Market," presented at the 2000 ADBI/OECD Workshop on Capital Markets Reforms in Tokyo, Japan, April 11-12, 2000. The earlier version this paper has been published in Bond Market Development in Asia (Paris, France: Organization for Economic Co-Operation and Development, 2001).
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    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/13961/wp2001-14a.pdf
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    1. Daniel Heller & Yvan Lengwiler, 1998. "The auctions of Swiss government bonds: should the Treasury price discriminate or not?," Finance and Economics Discussion Series 1998-11, Board of Governors of the Federal Reserve System (U.S.).
    2. Mr. Garry J. Schinasi & T. Todd Smith, 1998. "Fixed-Income Markets in the United States, Europe, and Japan-Some Lessons for Emerging Markets," IMF Working Papers 1998/173, International Monetary Fund.
    3. Marcel Cassard & Mr. D. F. I. Folkerts-Landau, 1997. "Risk Management of Sovereign Assets and Liabilities," IMF Working Papers 1997/166, International Monetary Fund.
    4. Umlauf, Steven R., 1993. "An empirical study of the Mexican Treasury bill auction," Journal of Financial Economics, Elsevier, vol. 33(3), pages 313-340, June.
    5. Robert A. Feldman & Rajnish Mehra, 1993. "Auctions: Theory and Applications," IMF Staff Papers, Palgrave Macmillan, vol. 40(3), pages 485-511, September.
    6. Nyborg, Kjell G. & Sundaresan, Suresh, 1996. "Discriminatory versus uniform Treasury auctions: Evidence from when-issued transactions," Journal of Financial Economics, Elsevier, vol. 42(1), pages 63-104, September.
    7. Bank for International Settlements, 1999. "Market Liquidity: Research Findings and Selected Policy Implications," CGFS Papers, Bank for International Settlements, number 11, december.
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    Cited by:

    1. In, Francis & Batten, Jonathan & Kim, Sangbae, 2003. "What drives the term and risk structure of Japanese bonds?," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(3), pages 518-541.

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