While India boasts a world-class equity market and increasingly important bank assets, its bond market has not kept up …. The government bond market remains illiquid. The corporate bond market, in addition, remains restrictive to participants … meet the needs of its firms and investors, the bond market must therefore evolve. This will mean creating new market …

bond market from the same bond market's weight in global bond market, we investigate the determinants of foreign and … domestic investment biases in 41 global bond markets. We find that foreign investors significantly overweigh markets that offer …. Such return driven behavior of foreign investors is especially pronounced in emerging bond markets. Meanwhile, home bias is …

We develop a reduced-form model that allows us to decompose bond spreads and CDS premia into a pure credit risk … has important consequences for the bond credit risk and liquidity components. Besides the credit risk link, we document a … liquidity link between the bond and the CDS market. Liquidity in both markets dries up as credit risk increases, and higher bond …