Hybrid Issuance Regimes for Corporate Bonds in Emerging Market Countries : Analysis, Impact and Policy Choices

Securities regulators in many developing countries are looking for ways to help grow their nongovernment bond markets to finance development. A common challenge is onerous regulations for issuance of bonds, which tend to discourage companies from c...

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Bibliographic Details
Main Author:	Loladze, Tamar
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	BOND INVESTMENTS HOLDING MARKET COUNTRIES RETIREMENT INCOME SECURITY ACCOUNTING FIXED INCOME INTERNATIONAL CAPITAL DEED MARKET PLAYERS SECURITIES MARKET LAW PROMISSORY NOTES INTEREST INSTITUTIONAL INVESTORS INVESTMENT POLICIES OPTION MARKET TRADING DEVELOPING COUNTRIES DISCLOSURE NORMS MARKET SIZE PORTFOLIO LOAN BOND FINANCING MUTUAL FUNDS PRIVATE PLACEMENTS INSTRUMENTS INSURANCE COMPANY MARKET PARTICIPANTS CONVERSION SMALL BUSINESS DEBT ISSUES SECURITIES ISSUANCE BACKED SECURITY CORPORATE BOND ISSUERS DERIVATIVES BOND INVESTORS GOVERNMENT POLICY MARKET DEVELOPMENT INCOME INSTRUMENTS TRUSTEES TRANCHES PROFESSIONAL INVESTORS BOND ISSUANCE MORTGAGE-BACKED SECURITY CORPORATE BOND MARKET INVESTMENT FUNDS EMERGING MARKET FINANCIAL INSTITUTIONS DEBT CAPITAL MARKET MARKETS FINANCIAL CRISES BOND ISSUE PRIMARY MARKETS SETTLEMENT PUBLIC OFFERING PUBLIC MARKET ISSUERS OF DEBT BOND HOLDER TRUST FUNDS EQUITIES PENSION FUNDS DUE DILIGENCE LEGAL FRAMEWORK CORPORATE BOND ISSUES BANKING SECTOR INVESTMENT DECISIONS GOVERNMENT BUDGETS JUDICIAL SYSTEM TRANSACTIONS EMERGING MARKETS DEPOSITORS INVESTMENT BANKS SECURITIES REGULATIONS REGULATORY FRAMEWORKS BOND MARKETS GOOD FUNGIBLE PRIVATE PARTY TRANSPARENCY PUBLIC OFFERINGS PRIVATE PLACEMENT MARKET CONDITIONS FUTURE EXCHANGES ACCESS TO BOND MARKETS DEBT SECURITIES ISSUANCE MARKET DISCIPLINE SHARES SECURITIES PUBLIC DEBT MARKET INTERMEDIARIES PRIVATE DEBT DEBENTURE INSURANCE CURRENCIES GOVERNMENT BONDS REGISTRATION SYSTEM TRUSTEE EUROBOND CORPORATE BOND DEBENTURES MARKET FRAGMENTATION COUPON RETAIL TRADING SECURITIES ISSUANCES MARKET SPECIALIST TRUST FUND MARKET REFORM SHAREHOLDER MARKET PARTICIPANT INSURANCE COMPANIES MATURITIES CAPITAL INVESTMENT FINANCIAL SYSTEMS INVESTMENT REGULATIONS LIQUID ASSETS CAPITAL MARKET REFORM BOND MARKET DEVELOPMENT FOREIGN BANK DEPOSITOR BACKED SECURITIES PUBLIC DEBT SECURITIES INVESTING CAPITAL MARKETS REGULATORY FRAMEWORK LIABILITY OUTSTANDING STOCK BOND HOLDERS STOCK GUARANTEES INVESTMENT FUND EXCHANGE DEVELOPMENT OF CORPORATE BOND MARKETS ISSUANCES INTERNATIONAL FINANCIAL MARKETS LIQUIDITY TYPE OF INVESTOR DISCLOSURE REQUIREMENTS EQUITY SECURITIES MORTGAGE FINANCIAL STATEMENTS BONDS CLEARING HOUSE ISSUANCE OF BONDS LEVEL OF INTEREST RATES DEBT ISSUANCE GOVERNMENT BOND INTERNATIONAL BANK PENSION BOND ISSUERS GOVERNANCE STANDARDS PRICE DISCOVERY BOND INSTRUMENTS MATURITY EMERGING MARKET COUNTRIES LEGAL FRAMEWORKS INSTITUTIONAL INVESTOR LACK OF TRANSPARENCY TRADING VENUE CREDIT RATINGS EXCHANGE COMMISSION BOND ISSUES SECURITIES MARKET ENFORCEMENT OF CONTRACTS PRIMARY MARKET MARKET PRACTICE ASSET-LIABILITY MATCHING PORTFOLIOS CONTRACTS TRADING INTEREST RATES OPTIONS REGISTERED BONDS EMERGING MARKET COUNTRY RETURN MARKET COUNTRY FINANCE BROKER TAXES INFRASTRUCTURE INVESTMENT INVESTMENT GUIDELINES EQUITY TRANSACTION SECURITIES MARKETS INVESTORS DEBT ISSUERS UNDERWRITER INCOME SECURITY SECONDARY MARKET TRADING FRAUD FINANCIAL STABILITY GOVERNMENT BOND MARKETS TRANCHE FINANCIAL CRISIS STATUTORY REQUIREMENTS INTERNATIONAL CAPITAL MARKET RETURNS BUDGETS CORPORATE BOND ISSUANCE FINANCIAL INSTRUMENTS BOND MARKET CONTRACT PRIVATE PARTIES BALANCE SHEET MARKET MARKET LAW CREDIT RATING EXCHANGE BOARD INSIDER TRADING EQUITY INSTRUMENTS DEBT MARKET CORPORATE DEBT INVESTOR INVESTOR PROTECTIONS CORPORATE BONDS TRADING SYSTEM SECURITY EQUITY MARKETS DEBT INSTRUMENTS LOSS STATEMENT STOCK EXCHANGE INVESTMENT BOND SHARE SECURITIES LAWS CREDIT QUALITY FINANCIAL MARKETS CORPORATE BOND MARKETS CORPORATE BOND MARKET DEVELOPMENT PORTFOLIO DIVERSIFICATION REVENUE PROFIT INVESTMENTS INSTRUMENT SECURITIES LAW BLUE CHIP SECONDARY MARKET GUARANTEE RETAIL INVESTORS GOVERNMENT PAPER REGISTRATION PROCESS NATIONAL STOCK EXCHANGE CORPORATE GOVERNANCE
Online Access:	http://hdl.handle.net/10986/22232

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http://hdl.handle.net/10986/22232

Hybrid Issuance Regimes for Corporate Bonds in Emerging Market Countries : Analysis, Impact and Policy Choices

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