Asian Bond Market Development Rationale and Strategies

Of all the structural weaknesses that might have caused the 1997–98 East Asian financial crisis, the absence of vibrant bond markets never fails to make the list. One year after the crisis, Donald Tsang, the financial secretary of the Hong Kong Special Administrative Region (SAR) of China at the tim...

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Bibliographic Details
Published in:	Regional Financial Cooperation p. 264
Main Authors:	YUNG CHUL PARK, JAE HA PARK, JULIA LEUNG, KANIT SANGSUBHAN
Format:	Book Chapter
Language:	English
Published:	United States Brookings Institution Press and Economic Commission for Latin America and the Caribbean (ECLAC) 29-08-2007 Brookings Institution Press
Subjects:	Bond issues Bond management Bond markets Capital markets Corporate bonds Countries Development studies Economic disciplines Economic investment Economic policy Economics Finance Financial bonds Financial economics Financial instruments Financial investments Financial markets Financial securities Human geography International economics International finance Investors Macroeconomics Market development Political geography Public finance Public investments Social sciences
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Summary:	Of all the structural weaknesses that might have caused the 1997–98 East Asian financial crisis, the absence of vibrant bond markets never fails to make the list. One year after the crisis, Donald Tsang, the financial secretary of the Hong Kong Special Administrative Region (SAR) of China at the time, cited the failure to establish a strong and robust Asian bond market as one reason for the financial turmoil in East Asia. Going further, he deploringly asked, “How is it that we in Asia have never been able to replicate the success of the Eurobond market in this part
ISBN:	9780815764199 0815764197