South Asian Bond Markets : Developing Long-Term Finance for Growth
Bond markets play an essential part in economies. As part of a diversified financial system, a well-developed domestic bond market can help provide the long-term financing needed for sustainable growth. It can also produce broad-ranging benefits th...
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| Language: | English en_US |
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Washington, DC : World Bank
2012
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| Online Access: | http://hdl.handle.net/10986/6584 |
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okr-10986-65842017-12-13T09:14:00Z South Asian Bond Markets : Developing Long-Term Finance for Growth Sophastienphong, Kiatchai Mu, Yibin Saporito, Carlotta ACCOUNTING ASIAN BOND MARKETS AUCTION BACKED SECURITIES BANK REGULATIONS BANKING SECTOR BANKING SECTOR REFORMS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BOND BOND AUCTIONS BOND ISSUANCE BOND MARKET BOND MARKET DEVELOPMENT BOND MARKET DEVELOPMENTS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CASH MANAGEMENT CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT CLEARING CORPORATION COMMERCIAL BANK COMMERCIAL BANKING COMMERCIAL BANKS COMPOSITION OF DEBT COMPOSITION OF GOVERNMENT DEBT CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKETS CORPORATE BONDS CORPORATE DEBENTURE CORPORATE DEBT CORPORATE DEBT SECURITIES CREDIBILITY CREDIT INFORMATION CREDIT INFORMATION BUREAU CREDIT MARKET CREDIT RATING CREDIT RATING AGENCY CREDIT RATING INFORMATION DEBT FINANCING DEBT INSTRUMENTS DEBT ISSUANCE DEBT ISSUER DEBT ISSUES DEBT MANAGEMENT DEBT POLICY DEBT RESTRUCTURING DEBT SECURITIES MARKET DEBT SECURITIES MARKETS DEVELOPMENT BANK DEVELOPMENT FINANCE DEVELOPMENT OF BOND MARKETS DOMESTIC BANKING DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BOND MARKETS DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC DEBT SECURITIES ECONOMIC DEVELOPMENT EMERGING MARKET EMERGING MARKET ECONOMIES EQUITY MARKET EQUITY MARKETS EXCHANGE BOARD EXCHANGE COMMISSION EXCHANGE RATES FINANCIAL ASSETS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED INCOME FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTMENT FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS INCOME SECURITIES INFRASTRUCTURE INVESTMENT INITIAL PUBLIC OFFERINGS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL SETTLEMENTS INVESTMENT CORPORATION INVESTMENT INSTRUMENTS INVESTMENT OPPORTUNITIES INVESTMENT PORTFOLIO INVESTMENT PROJECTS INVESTMENTS IN EQUITY INVESTOR BASE IPO ISLAMIC BONDS ISSUANCE LEGAL FRAMEWORK LIQUID BENCHMARK LIQUIDITY LOCAL CURRENCY LOCAL FINANCIAL MARKETS LONG-TERM DEBT LONG-TERM FINANCE LONG-TERM INVESTMENT MARKET BORROWING MARKET EFFICIENCY MARKET INFRASTRUCTURE MARKET LIQUIDITY MARKET PARTICIPANTS MARKET REFORMS MARKET SIZE MARKETABLE BONDS MATURITIES MATURITY MATURITY STRUCTURE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY AUTHORITY MONETARY FUND MONEY MARKET MORTGAGE MORTGAGES MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUNDS NATIONAL INVESTMENT NATIONAL SAVINGS NATIONAL STOCK EXCHANGE OPEN MARKET OUTSTANDING CORPORATE BONDS OUTSTANDING DEBT OUTSTANDING DEBT SECURITIES PENSION PENSION FUND PENSION FUNDS PENSION SYSTEM PORTFOLIOS PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY DEALERS PRIVATE PLACEMENT PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPO REPO MARKET RESERVE BANK RESERVE REQUIREMENT RESERVES RETAIL INVESTORS RISK MANAGEMENT SAVINGS CERTIFICATE SAVINGS SCHEMES SECONDARY MARKET SECONDARY MARKET ACTIVITY SECONDARY MARKET TRADING SETTLEMENT SETTLEMENT SYSTEM SOVEREIGN YIELD STATE BANK STATUTORY LIQUIDITY STOCK EXCHANGE SUPERVISORY AUTHORITIES SWAP T-BILLS T-BONDS TRADING TRADING SYSTEM TRANSACTION TRANSACTION COSTS TREASURY TREASURY BILL TREASURY BILL AUCTIONS TREASURY BILLS TREASURY BONDS YIELD CURVE YIELD CURVES Bond markets play an essential part in economies. As part of a diversified financial system, a well-developed domestic bond market can help provide the long-term financing needed for sustainable growth. It can also produce broad-ranging benefits throughout the economy. In South Asia the development of domestic debt securities markets lags. The markets remain small compared both with the size of the region's economies and with markets in East Asia. Even in India the market is still small relative to Gross Domestic Product (GDP), suggesting that long-term debt financing remains at an early stage in the region. Equity markets and banks still dominate South Asian financial systems. Measures are needed to enhance both the depth and the breadth of South Asian bond markets, to bring them into line with those in East Asia and, in the long run, with those in Organization for Economic Co-operation and Development (OECD) countries. This study assesses domestic debt securities markets in South Asia, identifies constraints to their development, and recommends measures for developing deeper, broader, and more efficient markets that can provide a competitive source of finance across a wide range of maturities for different debt issuers. The study covers five countries-Bangladesh, India, Nepal, Pakistan, and Sri Lanka. Within the region the development of domestic debt securities markets varies widely. India's is the most developed. Its experience, along with those of East Asian economies, suggests that much potential remains for developing South Asian bond markets and expanding their contribution to growth and development. Greater regional integration of South Asian bond markets could add to the benefits. 2012-05-29T18:36:23Z 2012-05-29T18:36:23Z 2008 978-0-8213-7601-0 http://hdl.handle.net/10986/6584 English en_US Creative Commons Attribution CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC : World Bank Publications & Research :: Publication Publications & Research :: Publication South Asia |
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Digital Repository |
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Foreign Institution |
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World Bank |
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World Bank Open Knowledge Repository |
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Online Access |
| language |
English en_US |
| topic |
ACCOUNTING ASIAN BOND MARKETS AUCTION BACKED SECURITIES BANK REGULATIONS BANKING SECTOR BANKING SECTOR REFORMS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BOND BOND AUCTIONS BOND ISSUANCE BOND MARKET BOND MARKET DEVELOPMENT BOND MARKET DEVELOPMENTS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CASH MANAGEMENT CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT CLEARING CORPORATION COMMERCIAL BANK COMMERCIAL BANKING COMMERCIAL BANKS COMPOSITION OF DEBT COMPOSITION OF GOVERNMENT DEBT CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKETS CORPORATE BONDS CORPORATE DEBENTURE CORPORATE DEBT CORPORATE DEBT SECURITIES CREDIBILITY CREDIT INFORMATION CREDIT INFORMATION BUREAU CREDIT MARKET CREDIT RATING CREDIT RATING AGENCY CREDIT RATING INFORMATION DEBT FINANCING DEBT INSTRUMENTS DEBT ISSUANCE DEBT ISSUER DEBT ISSUES DEBT MANAGEMENT DEBT POLICY DEBT RESTRUCTURING DEBT SECURITIES MARKET DEBT SECURITIES MARKETS DEVELOPMENT BANK DEVELOPMENT FINANCE DEVELOPMENT OF BOND MARKETS DOMESTIC BANKING DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BOND MARKETS DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC DEBT SECURITIES ECONOMIC DEVELOPMENT EMERGING MARKET EMERGING MARKET ECONOMIES EQUITY MARKET EQUITY MARKETS EXCHANGE BOARD EXCHANGE COMMISSION EXCHANGE RATES FINANCIAL ASSETS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED INCOME FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTMENT FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS INCOME SECURITIES INFRASTRUCTURE INVESTMENT INITIAL PUBLIC OFFERINGS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL SETTLEMENTS INVESTMENT CORPORATION INVESTMENT INSTRUMENTS INVESTMENT OPPORTUNITIES INVESTMENT PORTFOLIO INVESTMENT PROJECTS INVESTMENTS IN EQUITY INVESTOR BASE IPO ISLAMIC BONDS ISSUANCE LEGAL FRAMEWORK LIQUID BENCHMARK LIQUIDITY LOCAL CURRENCY LOCAL FINANCIAL MARKETS LONG-TERM DEBT LONG-TERM FINANCE LONG-TERM INVESTMENT MARKET BORROWING MARKET EFFICIENCY MARKET INFRASTRUCTURE MARKET LIQUIDITY MARKET PARTICIPANTS MARKET REFORMS MARKET SIZE MARKETABLE BONDS MATURITIES MATURITY MATURITY STRUCTURE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY AUTHORITY MONETARY FUND MONEY MARKET MORTGAGE MORTGAGES MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUNDS NATIONAL INVESTMENT NATIONAL SAVINGS NATIONAL STOCK EXCHANGE OPEN MARKET OUTSTANDING CORPORATE BONDS OUTSTANDING DEBT OUTSTANDING DEBT SECURITIES PENSION PENSION FUND PENSION FUNDS PENSION SYSTEM PORTFOLIOS PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY DEALERS PRIVATE PLACEMENT PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPO REPO MARKET RESERVE BANK RESERVE REQUIREMENT RESERVES RETAIL INVESTORS RISK MANAGEMENT SAVINGS CERTIFICATE SAVINGS SCHEMES SECONDARY MARKET SECONDARY MARKET ACTIVITY SECONDARY MARKET TRADING SETTLEMENT SETTLEMENT SYSTEM SOVEREIGN YIELD STATE BANK STATUTORY LIQUIDITY STOCK EXCHANGE SUPERVISORY AUTHORITIES SWAP T-BILLS T-BONDS TRADING TRADING SYSTEM TRANSACTION TRANSACTION COSTS TREASURY TREASURY BILL TREASURY BILL AUCTIONS TREASURY BILLS TREASURY BONDS YIELD CURVE YIELD CURVES |
| spellingShingle |
ACCOUNTING ASIAN BOND MARKETS AUCTION BACKED SECURITIES BANK REGULATIONS BANKING SECTOR BANKING SECTOR REFORMS BANKING SECTORS BANKING SYSTEM BANKING SYSTEMS BOND BOND AUCTIONS BOND ISSUANCE BOND MARKET BOND MARKET DEVELOPMENT BOND MARKET DEVELOPMENTS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CAPITAL MARKETS DEVELOPMENT CASH MANAGEMENT CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT CLEARING CORPORATION COMMERCIAL BANK COMMERCIAL BANKING COMMERCIAL BANKS COMPOSITION OF DEBT COMPOSITION OF GOVERNMENT DEBT CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKETS CORPORATE BONDS CORPORATE DEBENTURE CORPORATE DEBT CORPORATE DEBT SECURITIES CREDIBILITY CREDIT INFORMATION CREDIT INFORMATION BUREAU CREDIT MARKET CREDIT RATING CREDIT RATING AGENCY CREDIT RATING INFORMATION DEBT FINANCING DEBT INSTRUMENTS DEBT ISSUANCE DEBT ISSUER DEBT ISSUES DEBT MANAGEMENT DEBT POLICY DEBT RESTRUCTURING DEBT SECURITIES MARKET DEBT SECURITIES MARKETS DEVELOPMENT BANK DEVELOPMENT FINANCE DEVELOPMENT OF BOND MARKETS DOMESTIC BANKING DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BOND MARKETS DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC DEBT SECURITIES ECONOMIC DEVELOPMENT EMERGING MARKET EMERGING MARKET ECONOMIES EQUITY MARKET EQUITY MARKETS EXCHANGE BOARD EXCHANGE COMMISSION EXCHANGE RATES FINANCIAL ASSETS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED INCOME FOREIGN CURRENCY FOREIGN CURRENCY RISK FOREIGN FINANCIAL INSTITUTIONS FOREIGN INVESTMENT FOREIGN INVESTORS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS INCOME SECURITIES INFRASTRUCTURE INVESTMENT INITIAL PUBLIC OFFERINGS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL SETTLEMENTS INVESTMENT CORPORATION INVESTMENT INSTRUMENTS INVESTMENT OPPORTUNITIES INVESTMENT PORTFOLIO INVESTMENT PROJECTS INVESTMENTS IN EQUITY INVESTOR BASE IPO ISLAMIC BONDS ISSUANCE LEGAL FRAMEWORK LIQUID BENCHMARK LIQUIDITY LOCAL CURRENCY LOCAL FINANCIAL MARKETS LONG-TERM DEBT LONG-TERM FINANCE LONG-TERM INVESTMENT MARKET BORROWING MARKET EFFICIENCY MARKET INFRASTRUCTURE MARKET LIQUIDITY MARKET PARTICIPANTS MARKET REFORMS MARKET SIZE MARKETABLE BONDS MATURITIES MATURITY MATURITY STRUCTURE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MONETARY AUTHORITY MONETARY FUND MONEY MARKET MORTGAGE MORTGAGES MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUNDS NATIONAL INVESTMENT NATIONAL SAVINGS NATIONAL STOCK EXCHANGE OPEN MARKET OUTSTANDING CORPORATE BONDS OUTSTANDING DEBT OUTSTANDING DEBT SECURITIES PENSION PENSION FUND PENSION FUNDS PENSION SYSTEM PORTFOLIOS PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY DEALERS PRIVATE PLACEMENT PRUDENTIAL SUPERVISION PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPO REPO MARKET RESERVE BANK RESERVE REQUIREMENT RESERVES RETAIL INVESTORS RISK MANAGEMENT SAVINGS CERTIFICATE SAVINGS SCHEMES SECONDARY MARKET SECONDARY MARKET ACTIVITY SECONDARY MARKET TRADING SETTLEMENT SETTLEMENT SYSTEM SOVEREIGN YIELD STATE BANK STATUTORY LIQUIDITY STOCK EXCHANGE SUPERVISORY AUTHORITIES SWAP T-BILLS T-BONDS TRADING TRADING SYSTEM TRANSACTION TRANSACTION COSTS TREASURY TREASURY BILL TREASURY BILL AUCTIONS TREASURY BILLS TREASURY BONDS YIELD CURVE YIELD CURVES Sophastienphong, Kiatchai Mu, Yibin Saporito, Carlotta South Asian Bond Markets : Developing Long-Term Finance for Growth |
| geographic_facet |
South Asia |
| description |
Bond markets play an essential part in
economies. As part of a diversified financial system, a
well-developed domestic bond market can help provide the
long-term financing needed for sustainable growth. It can
also produce broad-ranging benefits throughout the economy.
In South Asia the development of domestic debt securities
markets lags. The markets remain small compared both with
the size of the region's economies and with markets in
East Asia. Even in India the market is still small relative
to Gross Domestic Product (GDP), suggesting that long-term
debt financing remains at an early stage in the region.
Equity markets and banks still dominate South Asian
financial systems. Measures are needed to enhance both the
depth and the breadth of South Asian bond markets, to bring
them into line with those in East Asia and, in the long run,
with those in Organization for Economic Co-operation and
Development (OECD) countries. This study assesses domestic
debt securities markets in South Asia, identifies
constraints to their development, and recommends measures
for developing deeper, broader, and more efficient markets
that can provide a competitive source of finance across a
wide range of maturities for different debt issuers. The
study covers five countries-Bangladesh, India, Nepal,
Pakistan, and Sri Lanka. Within the region the development
of domestic debt securities markets varies widely.
India's is the most developed. Its experience, along
with those of East Asian economies, suggests that much
potential remains for developing South Asian bond markets
and expanding their contribution to growth and development.
Greater regional integration of South Asian bond markets
could add to the benefits. |
| format |
Publications & Research :: Publication |
| author |
Sophastienphong, Kiatchai Mu, Yibin Saporito, Carlotta |
| author_facet |
Sophastienphong, Kiatchai Mu, Yibin Saporito, Carlotta |
| author_sort |
Sophastienphong, Kiatchai |
| title |
South Asian Bond Markets : Developing Long-Term Finance for Growth |
| title_short |
South Asian Bond Markets : Developing Long-Term Finance for Growth |
| title_full |
South Asian Bond Markets : Developing Long-Term Finance for Growth |
| title_fullStr |
South Asian Bond Markets : Developing Long-Term Finance for Growth |
| title_full_unstemmed |
South Asian Bond Markets : Developing Long-Term Finance for Growth |
| title_sort |
south asian bond markets : developing long-term finance for growth |
| publisher |
Washington, DC : World Bank |
| publishDate |
2012 |
| url |
http://hdl.handle.net/10986/6584 |
| _version_ |
1610771372176310272 |