Bond market development and integration in ASEAN

Bond market development and integration in ASEAN

The Association of Southeast Asian Nations (ASEAN) has focused increasingly on financial integration as part of its economic‐deepening agenda. This paper considers the challenges and opportunities associated with the creation of an ASEAN bond market. In addition to surveying the status quo of fixed‐...

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Veröffentlicht in:International journal of finance and economics 2005-04, Vol.10 (2), p.133-142
Hauptverfasser: Plummer, Michael G., Click, Reid W.
Format: Artikel
Sprache:eng
Schlagworte:
ASEAN
ASEAN currency basket
Banking industry
Banks
Bond market development
bond market integration
Bond markets
Capital markets
Cooperation
Developing countries
Economic policy
European Currency Unit
GDP
Gross Domestic Product
Integration
interest rate convergence
Interest rates
LDCs
Liquidity
Securities markets
Sovereign debt
Studies
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Zusammenfassung:The Association of Southeast Asian Nations (ASEAN) has focused increasingly on financial integration as part of its economic‐deepening agenda. This paper considers the challenges and opportunities associated with the creation of an ASEAN bond market. In addition to surveying the status quo of fixed‐income markets in the context of capital market development and integration in the region, the paper gauges the benefits that might be generated through, inter alia, financial market diversification and interest rate convergence. It also addresses approaches to the inevitable liquidity problem, such as via the creation of an ASEAN currency basket. Copyright © 2005 John Wiley & Sons, Ltd.
ISSN:1076-9307
1099-1158
DOI:10.1002/ijfe.268