Corporate bond markets in Asia
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Since the 1997 Asian financial crisis, bond market development has become a
high priority for Asian policymakers. The development of local currency bond
markets has often been seen as a way to avoid crisis, with these markets
helping reduce potential currency and maturity mismatches in the economy.
Indeed, several Asian economies have succeeded in developing fairly active
primary and secondary markets in domestic government bonds.
In recent years, policymakers in many Asian economies have started to
turn their attention to local currency non-government (“corporate”) bond
markets. They recognise that a robust financial system requires multiple
channels of financing, in which banks and other types of investor compete for
borrowers. As...
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Corporate bond markets in Asia
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Corporate bond markets in Asia
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