/accountability; and enhanced private savings and financial intermediation. There is some evidence that, above a ratio of 35% percent of …

issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater …

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets …. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both … improving the breadth and depth of corporate debt markets. The demand and supply of corporate bonds are dependent on factors …

Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond …? And does this mean that domestic markets have not, in fact, developed? The paper argues that bond market growth has been … held back by a sharp fall in investment rates, which has left firms with little need for bond borrowing. Even so, markets …

This paper estimates the impact of foreign participation in determining long-term local currency government bond yields … show that greater foreign participation in the domestic government bond market tends to significantly reduce long …-term government yields. Moreover, greater foreign participation does not necessarily result in increased volatility in bond yields in …