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Developing Asean5 Bond Markets: What Still Needs to Be Done? Andreas Jobst

Developing Asean5 Bond Markets: What Still Needs to Be Done?

Andreas Jobst

Published June 1st 2011
ISBN : 9786613882332
ebook
36 pages
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 About the Book 

This paper examines a range of issues relating to bond markets in the ASEAN5 (Indonesia, Malaysia, Philippines, Singapore and Thailand) - physical infrastructure including trading, clearing and settlement- regulation, supervision and legalMoreThis paper examines a range of issues relating to bond markets in the ASEAN5 (Indonesia, Malaysia, Philippines, Singapore and Thailand) - physical infrastructure including trading, clearing and settlement- regulation, supervision and legal underpinnings- and derivatives markets - and finds that the frameworks compare well with other Emerging Markets, following a decade of reform. A number of areas where further enhancements could be made are highlighted. The paper also examines the interrelationship between central bank management of short-term interest rates and domestic currency liquidity, and development of the wider money and bond markets- and suggests some lessons from the recent crisis in developed country financial markets which may be important for the future development of the ASEAN5 markets.