紀要論文

Corporate Bond Markets of Korea, Malaysia and Thailand

eng

09111247

https://doi.org/10.15002/00003135

Journal of International Economic Studies

22

71

86

2008-03

Version of Record

Developing corporate bond markets is an important policy task for Asian countries. In Korea, there is much room for expansion of the market. In Malaysia, corporate bond issues have increased since the Asian crisis. In Thailand, the corporate bond market is not yet matured in comparison with Korea and Malaysia. Regarding corporate financing, the corporate bond market expanded in Malaysia and the issuance of bonds has gained the same importance as bank lending. On the other hand, in Korea and Thailand, the dependence of the financial system mainly on the banking sector has not changed. In the corporate bond markets of the three countries, issuing size should be enlarged and issuers should be more diversified. For that purpose, the various governments involved and the Asian Bond Markets Initiative must continue their efforts to develop the markets, while respecting market mechanisms and the situation of the financial system in each country.

Article

AA10459262