The Development of Local Debt Markets in Asia: An Assessment

Goswami, Mangal; Sharma, Sunil | November 2011
Abstract
The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.
Citation
Goswami, Mangal; Sharma, Sunil. 2011. The Development of Local Debt Markets in Asia: An Assessment. © Asian Development Bank. http://hdl.handle.net/11540/3914. License: CC BY 3.0 IGO.
Keywords
Asian Development Bank
Development
Regional Economic Integration
Financial Sector Policies
Financial Risk Management
Bond Financing
Economic integration
Development Bank
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Citable URI
http://hdl.handle.net/11540/3914
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