Going Regional: How to Deepen ASEAN's Financial Markets
Gochoco-Bautista, Maria Socorro; Remolona, Eli M. | January 2012
Abstract
This study identifies the key issues involved in the further development and deepening of financial markets in the Association of Southeast Asian Nations (ASEAN). For the smaller ASEAN countries, the first priority is the development of the banking system. In the larger ASEAN+3 economies, banking systems are already reasonably well-developed, while stock markets and government bond markets have evidently achieved critical mass even while remaining purely domestic markets. The tug-of-war between the geography of information in the direction of more localized markets versus the critical mass required by network externalities makes the case for regional integration stronger for corporate bond markets than for other financial markets. The study proposes three bold initiatives to develop a deep and liquid regional corporate bond market.
Citation
Gochoco-Bautista, Maria Socorro; Remolona, Eli M.. 2012. Going Regional: How to Deepen ASEAN's Financial Markets. © Asian Development Bank. http://hdl.handle.net/11540/1591.ISSN
1655-5252
Keywords
Economic Development
Economic Infrastructure
Economic Policies
Regional Economic Development
Microfinance Programs
Public Finance
Local Financing
Financial Stability
Financial Sector Regulation
Enterprises
Financial aid
Economies in transition
Local Finance
Local Government
Insurance Companies
Banks
Social Equity
Social responsibility of business
Accounting
Personal budgets
Cost and standard of living
Bank accounts
Credit control
Regulatory reform
Banks and banking
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Citable URI
http://hdl.handle.net/11540/1591Metadata
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