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| Asean Bond Market Development : Where Does it Stand? Where is it Going?
ISBN: 9781455278527
Platform/Publisher: Ebook Central / International Monetary Fund
Digital rights: Users: Unlimited; Printing: Limited; Download: 7 Days at a Time
Subjects: Business/ Management; Economics;
Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they were a decade before. How can we explain this? 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 have developed in other ways, to such an extent that substantial amounts of foreign portfolio investment have begun to flow into ASEAN5 bonds. These developments have important ramifications. With the investor base growing and infrastructure investment likely to rise, ASEAN5 bond markets could expand rapidly over the next decade, holding out the prospect that the region could finally achieve "twin engine" financial systems.
Playwright Simon Gray was born in Hayling Island, Hampshire, England on October 21, 1936. He received degrees from Dalhousie University in Halifax, Nova Scotia, Canada and from Cambridge University. He has edited a literary review (like the characters in The Common Pursuit) and taught drama, poetry, and English literature in universities, both major and provincial. He has written 40 plays, television plays, and screenplays and five novels, and adapted Fyodor Dostoevsky's The Idiot for the National Theatre. Some of his works include Butley, Otherwise Engaged, Quartermaine's Terms, The Smoking Diaries, The Year of the Jouncer, and The Last Cigarette. He died on August 6, 2008. (Bowker Author Biography) |
