development of government bond markets in their own countries—and all individuals responsible for guiding the market development …

In November 2011, the G-20 endorsed an action plan to support the development of local currency bond markets (LCBM …). International institutions-the IMF, the World Bank, the EBRD, and the OECD-were asked to draw on their experience to develop a … objective is to provide a tool for analyzing the state of development and efficiency of local currency bond markets. The …

This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility … respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surprises in external emerging bond … longer lasting than those on prices. Yet the process of information absorption tends to be more drawn out than in mature bond …

This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project … developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising …

market funding; (ii) the introduction of options; and (iii) the introduction of futures. Variance ratio tests on bond data … for 14 industrial countries indicate that the move to market funding increased the volatility of bond yields and improved …