Impediments to Cross-border Investments in Asian Bonds
Institute of Southeast Asian Studies, 2005 - Business & Economics - 58 pages
Following the Asian financial crisis, the development of local currency bond markets in each of the APEC economies as well as regional bond markets has received the highest priority among financial market policy-makers. Bond markets are considered as an alternative vehicle for domestic savings mobilization and also as a critical means of mitigating the dual mismatch problems of currency and maturity. However, tangible achievements have yet to materialize. The appeal of Asian bonds as evidenced by cross-border investments is dismally insignificant. Given the limited level of market activities associated with foreign investment in Asian bonds and with the supply of local currency or foreign currency denominated bonds issued by foreign borrowers in Asia, this study is designed to identify the types of impediments to cross-border investment in Asian bonds and to propose policy recommendations.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
ABMIs Arirang bonds ASEAN+3 Asia and Pacific Asia-Pacific Asian Bond Market Asian Development Bank Asian economies excluding Asian financial crisis Bank for International billion Bond Market Initiative CD CD CD CM CM CM CM corporate bond markets currency bond markets currency bonds outstanding currency denominated bonds denominated bonds issued dual mismatch problems East Asian Bond East Asian economies EBRD Economic Cooperation Council eight economies Fiscal Impediments foreign currency denominated foreign institutions foreign investment global investment government bonds growth rate Hong Kong IBRD IFIs impediments to cross-border Indonesia inter-regional capital flows International Settlements investment in Asian ISEAS issued by foreign Korea Legal and Fiscal limited level local currency bonds Long-Term Bonds Malaysia market activities associated Meeting of East mitigating the dual Pacific Central Banks Pacific Economic Cooperation Paul Lejot priority among financial programmes Recipients of Global regional bond markets Regulatory and Systemic Singapore Systemic Impediments Thailand trillion