Skip to main content

Essential Changes in National Law and Regulation: Impediments to cross-border investment in Asian bond markets

  • Chapter
Asia’s Debt Capital Markets

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.00
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Akamatsu, N., 2004, Cross-border settlement and regional bond market integration, World Bank Financial Sector Operations & Policy Department, mimeo.

    Google Scholar 

  • Akhtar, S., 2001, Institutional investors in Asia, Financial Trends, October. Pads, OECD.

    Google Scholar 

  • Allen, F. Qian Jun & Qian Meijun, 2002, Law, finance and economic growth in China, Wharton School working paper; Journal of Financial Economics, 2005.

    Google Scholar 

  • Asami, T. & J. Mori, 2001, Regional cooperation in developing bond markets: harmonization and standardization of the regions bond markets, Institute for International Monetary Affairs, Japan.

    Google Scholar 

  • Asian Development Bank, 2003, Harmonization of bond markets: rules and regulations, background study for APEC Finance Ministers Process.

    Google Scholar 

  • Aziz, J. & C. Duenwald, 2002, Growth-financial intermediation nexus in China, IMF working paper 02/194.

    Google Scholar 

  • Benink, H. & S. Ghon Rhee, 2004, Why Asia must think global for financial markets, Financial Times, August 6.

    Google Scholar 

  • Berkowitz, D., J. Moenius & K. Pistor, 2004, Legal institutions and international trade flows 26 Mich. J. lntl L. 163.

    Google Scholar 

  • Bestani, R. & A. Sagar, 2004, The local currency financing revolution, Asia Pacific Review of Project Finance International.

    Google Scholar 

  • Burger, J. & F. Warnock, 2004, Foreign participation in local currency bond markets, Federal Reserve System International Finance discussion paper No. 794.

    Google Scholar 

  • Eichengreen, B. & P. Luengnaruemitchal, 2004, Why doesn’t Asia have bigger bond markets?, National Bureau of Economic Research working paper 10576.

    Google Scholar 

  • Goldsmith, R., 1969, Financial Structure and Development, New Haven, CT: Yale University Press.

    Google Scholar 

  • Gerschenkron, A., 1962, Economic Backwardness in Historical Perspective: A Book of Essays, Cambridge, MA: Harvard University Press,.

    Google Scholar 

  • Hoschka, T., 2005a, Local currency financing: next frontier for MDBs?, Asian Development Bank ERD working paper No. 68.

    Google Scholar 

  • Hoschka, T., 2005b, Developing the market for local currency bonds by foreign issuers: lessons from Asia, Asian Development Bank ERD working paper No. 63.

    Google Scholar 

  • Jiang, G. & R. McCauley, 2004, Asian local currency bond markets, BIS Quarterly Review, June, 67–79.

    Google Scholar 

  • King, M, 2001, Who triggered the Asian financial crisis? Review of International Political Economy 8(3), 438–467.

    Article  Google Scholar 

  • La Porta, R., F. López-de-Silanes, A. Shleifer & R. Vishny, 1997, Legal determinants of external finance, Journal of Finance 52(3), 1131–1150.

    Article  Google Scholar 

  • La Porta, R. F. López-de-Silanes, A. Shleifer & R. Vishny, 1998, Law and finance, Journal of Political Economy, 106(6), 1113–1155.

    Article  Google Scholar 

  • Lejot, P. & D. Amer, 2004, Well-intentioned Asian bond fund wont work, 23 International Financial Law Review 23(9).

    Google Scholar 

  • Lejot, P., D. Arner & Liu Qiao, 2004, Making markets: reforms to strengthen Asia’s debt capital markets, Hong Kong Institute For Monetary Research Working Paper 13.

    Google Scholar 

  • Lejot, P., D. Arner, Liu Qiao, M. Chan, and M. Mays, 2003, Asia’s debt capital Markets appraisal and agenda for policy reform, Hong Kong Institute for Monetary Research working paper 19.

    Google Scholar 

  • Levine, R., 2002, Bank-based or market-based financial systems: which is better?, National Bureau Of Economic Research working paper 9138.

    Google Scholar 

  • Levine, R., 1997, Financial Development & Economic Growth: Views & Agenda, Journal of Economic Literature 35(2) 688–726.

    Google Scholar 

  • Lynch, D., 2000, Asian Bond Markets, International Banks and Securities Association of Australia.

    Google Scholar 

  • Ma G., C. Ho & R McCauley, 2004, The markets for non-deliverable forwards in Asian currencies, BIS Quarterly Review, June, 81–94.

    Google Scholar 

  • McCauley, R., 2003, Unifying government bond markets in East Asia, BIS Quarterly Review, December, 89–98.

    Google Scholar 

  • Mohanty, M., 2002, Improving liquidity in government bond markets: what can be done? BIS papers 11.

    Google Scholar 

  • Rhee, S. Ghon, 2004a, Why Asian Bond markets initiative may fizzle out?, Financial News, December 19,.

    Google Scholar 

  • Rhee, S. Ghon, 2004b, The structure and characteristics of East Asian bond markets, in Developing Asian Bond Markets, edited by T. Ito and Y.C. Park, Canberra: Asia Pacific Press, 112–128.

    Google Scholar 

  • Rhee, S. Ghon, 2000, Rising to Asia’s Challenge: Enhanced Role of Capital Markets, in Rising to the Challenge in Asia: A Study of Financial Markets, Vol. 1 Manila: Asian Development Bank, 2000, 107–174.

    Google Scholar 

  • Steil, B., 2002, Building a Transatlantic Securities Market, Zurich: International Capital Markets Association.

    Google Scholar 

  • Takeuchi, A., 2004, Identifying impediments to cross-border bond investment and issuance in Asian counlries, Bank of Japan Working Paper.

    Google Scholar 

  • World Bank, 2005, Global Development Finance, Washington, DC.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2006 Milken Institute

About this chapter

Cite this chapter

Rhee, S.G., Lejot, P., Arner, D. (2006). Essential Changes in National Law and Regulation: Impediments to cross-border investment in Asian bond markets. In: Arner, D., Park, JH., Lejot, P., Liu, Q. (eds) Asia’s Debt Capital Markets. The Milken Institute Series on Financial Innovation and Economic Growth, vol 6. Springer, New York, NY . https://doi.org/10.1007/0-387-25090-5_8

Download citation

Publish with us

Policies and ethics