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Developing the Market for Local Currency Bonds by Foreign Issuers: Lessons from Asia

Author

Listed:
  • Hoschka, Tobias C.

    (Asian Development Bank)

Abstract

This paper surveys the experience of countries in the East Asian region that have introduced local currency bonds by foreign issuers. The countries that are examined include Australia; Hong Kong, China; Japan; Republic of Korea; and Singapore. It is suggested that there are sound reasons for many countries to develop the market for foreign issuers. Benefits and potential issues are analyzed, development policies are reviewed, and concrete policy options are discussed for those countries that are currently considering opening their domestic markets to foreign issuers.

Suggested Citation

  • Hoschka, Tobias C., 2005. "Developing the Market for Local Currency Bonds by Foreign Issuers: Lessons from Asia," ADB Economics Working Paper Series 63, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0063
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    More about this item

    Keywords

    development policies; East Asian region; foreign issuers; local currency bonds; market development;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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