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The Importance of Bond Market Development

Since the Asian crisis, considerable attention has been paid to the role of corporate bond markets in overall. Crises like the Asian one gave following lessons:
 Foreign exchange exposures can be devastating
 Foreign capital flows can be volatile
 The risk of liquidity and maturity mismatches can be very acute and is a source of systemic risk
These risks can be mitigated through the development of financial sector and this goes hand in hand with the need for substantial mobilization of local savings, with key role for the local debt market and local stock market

Emergence of fixed income markets is the recent feature predominantly spread onward 1970 period. It is a market falling in between equity market and bank finance. So it suits to that class of investors/borrowers who either are not considered high risk taking investors/borrowers or act under relatively safe parameters within bank finance.

Development of zero......

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Approximate Word Count: 2909
Approximate Pages: 12 (250 words per double-spaced page)

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