PUBLICATIONS & REPORTS
PUBLICATIONS & REPORTS
From Kitakyushu to the world: AGI, a research institute that studies Asia's economy and society
Bond Market Development and Integration in ASEAN
| Author | Michael G. Plummer, Reid Click |
|---|---|
| Date of Publication | 2003. 5 |
| No. | 2003-07 |
| Download | 541KB |
Contents Introduction
ASEAN countries have been trying to diversify their heavy reliance on the banking sector in favor of other financial intermediation vehicles, including equity and fixed-income markets. Supply and demand conditions are such that bond markets in particular will become increasingly important in these countries; most member-states have launched initiatives to develop their respective fixed-income markets. Moreover, financial cooperation is now taking on a priority role in the ASEAN economic cooperation process. This paper considers what will be required to strengthen individual bond markets in ASEAN, as well as develop a framework within which a regional bond market can be established.