Building Local Bond Markets

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Building Local Bond Markets

Author : Alison Harwood
Publisher : World Bank Publications
ISBN 13 : 9780821348192
Total Pages : 538 pages
Book Rating : 4.3/5 (481 download)

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Book Synopsis Building Local Bond Markets by : Alison Harwood

Download or read book Building Local Bond Markets written by Alison Harwood and published by World Bank Publications. This book was released on 2000-01-01 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Asia and Tequila crises of the late 1990s, a growing number of emerging market countries have focused on developing local bond markets to lock in local currency, fixed-rate and long-term funding, and help governments and corporations better manage their financing risks. International organizations from Washington to Southeast Asia are pushing bond market development, to reduce global instability by improving domestic risk management. This book is part of the International Finance Corporation's efforts to assist countries in South Asia and other parts of the world to identify their need for local bond markets, the impediments to developing them, and how those impediments might be removed. The book is based on papers presented at the South Asian Debt Market Symposium held in Sri Lanka in October 1999. It provides valuable insights to emerging market nations wrestling with the issue of building local bond markets. This book will be of interest to bond market specialists, policymakers, and the private sector.

Building Local Bond Markets

Author :
Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.:/5 (666 download)

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Book Synopsis Building Local Bond Markets by :

Download or read book Building Local Bond Markets written by and published by . This book was released on 2002 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Guidance Note For Developing Government Local Currency Bond Markets

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513573926
Total Pages : 157 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Guidance Note For Developing Government Local Currency Bond Markets by : International Monetary Fund

Download or read book Guidance Note For Developing Government Local Currency Bond Markets written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-12 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.

Good Practices for Developing a Local Currency Bond Market

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292616110
Total Pages : 350 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Good Practices for Developing a Local Currency Bond Market by : Asian Development Bank

Download or read book Good Practices for Developing a Local Currency Bond Market written by Asian Development Bank and published by Asian Development Bank. This book was released on 2019-05-01 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Local currency bond markets in ASEAN+3 play an important role in diversifying financial intermediary channels and mitigating the impacts of financial crises. They also have the potential to help mobilize developing Asia's significant savings to meet the region's enormous infrastructure investment needs. Drawing extensively on knowledge generated by the ASEAN+3 Bond Market Forum, the publication looks at the essential building blocks and the enabling environment for these markets, as well as the roles of government, relevant authorities, and market participants.

Developing Bond Markets in APEC

Author : Julius Caesar Parrenas
Publisher : Flipside Digital Content Company Inc.
ISBN 13 : 9814517461
Total Pages : 82 pages
Book Rating : 4.8/5 (145 download)

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Book Synopsis Developing Bond Markets in APEC by : Julius Caesar Parrenas

Download or read book Developing Bond Markets in APEC written by Julius Caesar Parrenas and published by Flipside Digital Content Company Inc.. This book was released on 2003-08-01 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This conference report provides a unique overview of the development of local currency bond markets in the Asia-Pacific region and cross-border investment and issuance in these markets. It brings together insights of the region's leading capital market regulators, private sector market players, finance and central bank officials and experts from academe and international development organizations, who have gathered together to assess the extent to which the region's bond markets have developed, and map out a regional strategy based on public-private sector partnership that promises to address key policy reform and capacity-building issues.This report concludes that a few emerging markets in the region have made significant advances, but many others need to undertake fundamental reforms to achieve adequate market depth and liquidity and develop an enabling regulatory framework. Successfully undertaking these reforms requires intensive regional cooperation to help address obstacles in individual economies and facilitate greater cross-border activity in the region's bond markets. Coordination is also needed to ensure the consistency of parallel initiatives being undertaken within various regional bodies, particularly APEC, ASEAN Plus Three and EMEAP, to develop a regional bond market.

Developing a local currency government Bond market in an emerging economy after COVID-19

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292698702
Total Pages : 63 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Developing a local currency government Bond market in an emerging economy after COVID-19 by : Asian Development Bank

Download or read book Developing a local currency government Bond market in an emerging economy after COVID-19 written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-12-01 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication explores how a local currency government bond market is vital to strengthen economic recovery from COVID-19. It focuses on the Lao People’s Democratic Republic, as its market is exposed to many challenges also faced by other developing countries. It examines how this nation can benefit from the experiences of its neighbors in the Asian Bond Markets Initiative: the Association of Southeast Asian Nations, plus the People’s Republic of China, Japan, and the Republic of Korea (ASEAN+3). The publication highlights the essential building blocks for developing an efficient government bond market with sound cash and debt management.

The Bahamas

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis The Bahamas by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book The Bahamas written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2024-07-08 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bahamas has a strong foundation for developing the local currency bond market (LCBM), benefitting from macroeconomic stability, and favorable fiscal and borrowing plans. The government views domestic capital market development as crucial for rebuilding economic buffers and fostering financial market development. An IMF/CARTAC a technical assistance mission visited The Bahamas in March 2023 to support the LCBM development. The mission assessed the current stage of the sovereign debt market and formulated policy recommendations for each of the six building blocks outlined in the Guidance Note for Developing Local Currency Bond Markets. Key findings highlighted significant potential to shift funding from non-concessional external borrowing to the domestic bond market, which would facilitate a more robust yield curve and deeper benchmark issuances. The mission’s key recommendations were: • Transition to a competitive auction system, allowing market prices to clear a fixed volume on offer; • Enhance communication with market participants, including through a formal investor relations strategy, and with relevant stakeholders to improve credibility, transparency, and investor appetite; and • Implement reforms sequentially, initially focusing on eliminating the most critical bottlenecks to market development.

The Bond Market in Hong Kong, China

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292623788
Total Pages : 45 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis The Bond Market in Hong Kong, China by : Asian Development Bank

Download or read book The Bond Market in Hong Kong, China written by Asian Development Bank and published by Asian Development Bank. This book was released on 2020-09-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides updates on the bond market in Hong Kong, China since the publication of the ASEAN+3 Bond Market Guide 2016: Hong Kong, China. It also highlights those changes and developments that have a connection to the bond market of the People’s Republic of China. The ASEAN+3 Bond Market Guide series provides member-specific information on the investment climate, rules, laws, opportunities, and characteristics of local bond markets in Asia and the Pacific. It aims to help bond market issuers, investors, and financial intermediaries understand the local context and to encourage greater participation in the region’s rapidly developing bond markets.

Local Currency Bond Markets Law Reform: A Methodology for Emerging Markets and Developing Economies

Author : Wouter Bossu
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781513561608
Total Pages : 61 pages
Book Rating : 4.5/5 (616 download)

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Book Synopsis Local Currency Bond Markets Law Reform: A Methodology for Emerging Markets and Developing Economies by : Wouter Bossu

Download or read book Local Currency Bond Markets Law Reform: A Methodology for Emerging Markets and Developing Economies written by Wouter Bossu and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-11-20 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent financial crises including the ongoing one caused by the COVID-19 pandemic have consistently drawn attention to the need to strengthen the quality of public debt management in emerging markets and developing countries. Deeper and more efficient domestic government debt markets—being, a key segment of the LCBM for many emerging markets and developing economies—play a key role in reducing financial vulnerability to shocks and enable governments to finance critical economic and fiscal policy measures in response to them. Policymakers and international organizations have long recognized that developing and strengthening LCBMs is a key policy prescription to sound public debt management. Robust legal and regulatory frameworks are recognized as being critical building blocks for the structure, development and functioning of LCBMs. This Working Paper seeks to outline a strategically anchored methodology that can be applied to design, build and implement the legal and tax foundations for the development of LCBMs that would adequately address common challenges and impediments.

Multi-Sector Bond Funds in Emerging Markets—Easy Come, Easy Go

Author : Fabio Cortes
Publisher : International Monetary Fund
ISBN 13 : 1616357681
Total Pages : 12 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis Multi-Sector Bond Funds in Emerging Markets—Easy Come, Easy Go by : Fabio Cortes

Download or read book Multi-Sector Bond Funds in Emerging Markets—Easy Come, Easy Go written by Fabio Cortes and published by International Monetary Fund. This book was released on 2021-12-16 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unconstrained multi-sector bond funds (MSBFs) can be a source of spillovers to emerging markets and potentially exert a sizable impact on cross-border flows. MSBFs have grown their investment in emerging markets in recent years and are highly concentrated—both in their positions and their decision-making. They typically also exhibit opportunistic behavior much more so than other investment funds. Theoretically, their size, multisector mandate, and unconstrained nature allows MSBFs to be a source of financial stability in periods of wide-spread market turmoil while others sell at fire-sale prices. However, this note, building on the analysis of Cortes and Sanfilippo (2020) and incorporating data around the COVID-19 crisis, finds that MSBFs could have contributed to increase market stress in selected emerging markets. When faced with large investor redemptions during the crisis, our sample of MSBFs chose to rebalance their portfolios in a concentrated manner, raising a large proportion of cash in a few specific local currency bond markets. This may have contributed to exacerbating the relative underperformance of these local currency bond markets to broader emerging market indices.

Developing Government Bond Markets

Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9780821349557
Total Pages : 440 pages
Book Rating : 4.3/5 (495 download)

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Book Synopsis Developing Government Bond Markets by : International Monetary Fund

Download or read book Developing Government Bond Markets written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2001-09-21 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is a comprehensive and authoritative reference for both senior policymakers—those responsible for the development of government bond markets in their own countries—and all individuals responsible for guiding the market development process at the operational level—those who have a substantial need to understand the policy issues involved.

Bond Market

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 301 pages
Book Rating : 4.:/5 (661 download)

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Book Synopsis Bond Market by : Fouad Sabry

Download or read book Bond Market written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-11 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Bond Market The bond market is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is usually in the form of bonds, but it may include notes, bills, and so on for public and private expenditures. The bond market has largely been dominated by the United States, which accounts for about 39% of the market. As of 2021, the size of the bond market is estimated to be at $119 trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA). How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Bond market Chapter 2: Arbitrage Chapter 3: High-yield debt Chapter 4: Bond (finance) Chapter 5: Government bond Chapter 6: Municipal bond Chapter 7: Convertible bond Chapter 8: United States Treasury security Chapter 9: Yield curve Chapter 10: Fixed income Chapter 11: Floating rate note Chapter 12: Mortgage-backed security Chapter 13: Corporate bond Chapter 14: Fixed income arbitrage Chapter 15: Fixed income analysis Chapter 16: Gilt-edged securities Chapter 17: Bond fund Chapter 18: Money market Chapter 19: Inverse floating rate note Chapter 20: GDP-linked bond Chapter 21: Corporate debt bubble (II) Answering the public top questions about bond market. (III) Real world examples for the usage of bond market in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Bond Market.

The Fundamentals of Municipal Bonds

Author : SIFMA
Publisher : John Wiley & Sons
ISBN 13 : 0470903384
Total Pages : 326 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis The Fundamentals of Municipal Bonds by : SIFMA

Download or read book The Fundamentals of Municipal Bonds written by SIFMA and published by John Wiley & Sons. This book was released on 2011-12-06 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive new edition of the most trusted book on municipal bonds As of the end of 1998, municipal bonds, issued by state or local governments to finance public works programs, such as the building of schools, streets, and electrical grids, totaled almost $1.5 trillion in outstanding debt, a number that has only increased over time. The market for these bonds is comprised of many types of professionals—investment bankers, underwriters, traders, analysts, attorneys, rating agencies, brokers, and regulators—who are paid interest and principal according to a fixed schedule. Intended for investment professionals interested in how US municipal bonds work, The Fundamentals of Municipal Bonds, Sixth Edition explains the bond contract and recent changes in this market, providing investors with the information and tools they need to make bonds reliable parts of their portfolios. The market is very different from when the fifth edition was published more than ten years ago, and this revision reasserts Fundamentals of Municipal Bonds as the preeminent text in the field Explores the basics of municipal securities, including the issuers, the primary market, and the secondary market Key areas, such as investing in bonds, credit analysis, interest rates, and regulatory and disclosure requirements, are covered in detail This revised edition includes appendixes, a glossary, and a list of financial products related to applying the fundamentals of municipal bonds An official book of the Securities Industry and Financial Markets Association (SIFMA) With today's financial market in recovery and still highly volatile, investors are looking for a safe and steady way to grow their money without having to invest in stocks. The bond market has always been a safe haven, although confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to decide on the most suitable fixed income investments.

Building Subnational Debt Markets in Developing and Transition Economies

Author : Michel Noël
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4./5 ( download)

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Book Synopsis Building Subnational Debt Markets in Developing and Transition Economies by : Michel Noël

Download or read book Building Subnational Debt Markets in Developing and Transition Economies written by Michel Noël and published by World Bank Publications. This book was released on 2000 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because of the trend toward decentralization in more than 70 countries where the World Bank is active, subnational entities (states regions, provinces, counties and municipalities, and the local utility companies owned by them) are now responsible for delivering services and investing in infrastructure. And infrastructure investments are growing rapidly to meet increasing urban demand. How should the World Bank Group help?

The Development of Local Capital Markets

Author : Mr.Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 1498372201
Total Pages : 25 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Development of Local Capital Markets by : Mr.Luc Laeven

Download or read book The Development of Local Capital Markets written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2014-12-19 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.

Developing Bond Markets in APEC

Author : Caesar Parreñas
Publisher : Institute of Southeast Asian Studies
ISBN 13 : 9812303480
Total Pages : 77 pages
Book Rating : 4.8/5 (123 download)

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Book Synopsis Developing Bond Markets in APEC by : Caesar Parreñas

Download or read book Developing Bond Markets in APEC written by Caesar Parreñas and published by Institute of Southeast Asian Studies. This book was released on 2005 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This conference report provides a unique overview of the development of local currency bond markets in the Asia-Pacific region and cross-border investment and issuance in these markets. It brings together insights of the region's leading capital market regulators, private sector market players, finance and central bank officials and experts from academe and international development organizations, who have gathered together to assess the extent to which the region's bond markets have developed, and map out a regional strategy based on public-private sector partnership that promises to address key policy reform and capacity-building issues.

An Anatomy of Corporate Bond Markets: Growing Pains and Knowledge Gains

Author : Li L. Ong
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451861716
Total Pages : 25 pages
Book Rating : 4.8/5 (617 download)

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Book Synopsis An Anatomy of Corporate Bond Markets: Growing Pains and Knowledge Gains by : Li L. Ong

Download or read book An Anatomy of Corporate Bond Markets: Growing Pains and Knowledge Gains written by Li L. Ong and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-07-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both mature and emerging markets. We suggest that core aspects such as benchmarking, corporate governance and disclosure, credit risk pricing, the availability of reliable trading systems, and the development of hedging instruments are fundamental for improving the breadth and depth of corporate debt markets. The demand and supply of corporate bonds are dependent on factors such as the investor base, both local and foreign, and government policies toward the issuance process and associated costs, as well as the taxation regime. The sequencing of reforms is key to market development.