Given the catastrophe in the world’s largest economy and the subsequent unprecedented ultra-easy money policies, policy makers around the world have to face a new environment. The resulting capital flows in emerging market economies were huge and volatile. These flows have been intermediated...

The globalisation of capital markets has encouraged moves toward regional harmonization and integration. This report examines and compares the level of development of capital markets in the South Asian region, assesses the prospects for greater harmonization and integration, and proposes a set...

This technical assistance project was designed to familiarize policy makers in the developing member countries of the Asian Development Bank (ADB) with credit enhancement products (CEPs), including guarantees, available from ADB, export credit agencies, other multilateral development banks, and...

The ASEAN+3 Bond Market Guide contains the comprehensive reports of the ASEAN+3 Bond Market Forum Sub-Forum 1 (SF1) and Sub-Forum 2 (SF2). The SF1 report (Volume 1) analyzes the harmonization and standardization of the existing bond markets in the ASEAN+3. It also contains the individual market...

The Asian Development Bank has been working closely with the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China (PRC), Japan, and the Republic of Korea—collectively known as ASEAN+3—to promote the development of local currency bond markets in the region...