eBook Categories Finannce South Asian Bond Markets: Developing Long-Term Finance for Growth
South Asian Bond Markets: Developing Long-Term Finance for Growth |
| Ebook - Finance | |
| Wednesday, 22 October 2008 | |
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The book will greatly help supervisory authorities in the region to better understand the constraints in developing bond markets and implement the necessary measures to develop a deep and diversifi ed local bond market that can facilitate long-term fi nance for growth. As emphasized recently by the Group of Eight, domestic bond markets remain a central piece of any sound financial sector reform and development strategy. By providing a funding alternative to bank financing, alleviating maturity mismatches, and diversifying risk, bond markets allow economies to attain a superior position on the frontier of risk-return trade-offs. South Asian Bond Markets: Developing Long-Term Finance for Growth provides policy makers and development practitioners with a lucid, well-focused analysis of the status of bond market development in the Subcontinent, and it offers a set of policy recommendations that will form the basis of the region’s debt market development agenda for the foreseeable future. Executive Summary Developing deep, well-functioning domestic bond markets can help countries generate the long-term financing needed for sustainable economic growth. In South Asian bond markets still fall short of their potential—in most countries, far short. India has the region’s most developed market. 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. Why Do Bond Markets Matter? Deep, well-functioning domestic bond markets are extremely important for a country’s economic development, as they facilitate long-term financing for areas such as infrastructure, housing, and private sector development. ... Visit South Asian Bond Markets: Developing Long-Term Finance for Growth Download Page You can download full publication in PDF format or text version. Kiatchai Sophastienphong © 2008 The International Bank for Reconstruction and Development / The World Bank ABOUT THE AUTHORS Kiatchai Sophastienphong is Senior Financial Sector Specialist, Poverty Reduction, Economic Management, Finance and Private Sector Development at the World Bank South Asia Region. His recent activities include leading the Financial Sector Assessment Program (FSAP) update mission to Sri Lanka. Mr. Sophastienphong has also helped to design and implement restructuring and bank privatization programs in Bangladesh, Nepal, and Pakistan, and has led the dialogue on financial sector issues in several client countries at both the policy and technical level. He has designed the overall financial sector strategies for these countries in addition to developing a program to implement these strategies. Prior to joining the Bank, he held senior executive positions at the Bank of Thailand (the central bank) and two private commercial banks in Thailand. He also worked at the Asian Development Bank as the Senior Financial Economist, in the Regional and Sustainable Development Department. Among his publications, he recently coauthored the book Getting Finance in South Asia 2009: Indicators and Analysis of the Commercial Banking System (World Bank publication). His research interests include bank restructuring and privatization, corporate debt restructuring, and bond market developments. He received his Bachelor of Arts (BA) and Master of Arts (MA) in Economics from the University of Cambridge, United Kingdom. Dr. Yibin Mu is a Senior Financial Economist/Senior Capital Markets Specialist at the World Bank /International Finance Corporation joint Global Capital Markets Development Department. Over the past eight years, he has provided policy and technical advice on the financial sector development issues to about 30 World Bank client countries around the world. Prior to joining the World Bank, he worked at the Hong Kong Monetary Authority and China’s Central Bank for another eight years, where he was mainly responsible for supervising foreign financial institutions in China and Chinese financial institutions overseas. His research interests include capital markets development, cash/debt management, access to finance, and prudential supervision and regulation. Dr. Mu has an MPA degree from Harvard University, as well as a Ph.D degree in Finance and an MA degree in Economics. He is also a CFA charter holder. Carlotta Saporito is a Junior Professional Associate at the World Bank/International Finance Corporation. Over the past two years, she has worked with the Financial Sector Operations & Policy Department and with the Foreign Investment Advisory Service. She recently participated in the Financial Sector Assessment Program (FSAP) update mission to Sri Lanka, and she led a survey of the credit market and lending practices in Ghana. She obtained her MA in International Relations from Johns Hopkins University/Paul H. Nitze School of Advanced International Studies (SAIS) and her BA in International Relations and Arabic from the University of St. Andrews in the UK. Her research interests include bond market development and securitization. Bookmark
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A deep, well-functioning domestic bond market is essential for sustainable development in South Asia. South Asian Bond Markets: Developing Long-Term Finance for Growth provides a comprehensive overview of the South Asian region’s bond markets, drawing insights and contributions from key policy makers as well as practitioners. 
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