PUBLICATIONS & REPORTS

PUBLICATIONS & REPORTS

Bond Market Development and Integration in ASEAN

Author Michael G. Plummer, Reid Click
Date of Publication 2003. 5
No. 2003-07
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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.