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Author/Editor:
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Gray, Simon ; Felman, Joshua ; Carvajal, Ana ; Jobst, Andreas
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Publication Date:
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June 01, 2011
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Electronic Access:
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Free Full text
(PDF file size is 1,356KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
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 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.
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Order a print copy
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Series:
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Working Paper No. 11/135
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Subject(s):
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Asia | Bond markets | Central banks | Financial crisis | Global Financial Crisis 2008-2009 | Indonesia | Liquidity management | Malaysia | Philippines | Singapore | Taxation | Thailand
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Author's Keyword(s):
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Bond markets: Bond markets | ASEAN | market development |
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English
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Publication Date:
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June 01, 2011
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Format:
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Paper
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Stock No:
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WPIEA2011135
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Pages:
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34
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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