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Author : Asian Development Bank
Publisher : Unknown
Page : 85 pages
File Size : 49,5 Mb
Release : 2013
Category : Bonds
ISBN : 9292540653
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 137 pages
File Size : 41,5 Mb
Release : 2013-05-01
Category : Business & Economics
ISBN : 9789292540661
The Asian Development Bank (ADB) has been working closely with the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China (PRC), Japan, and the Republic of Korea---collectively known as ASEAN+3---to promote the development of local currency bond markets in the region through the Asian Bond Markets Initiative (ABMI). ABMI was launched in 2002 to help channel regional savings toward long-term investments within the region. ABMI was established with the goal of improving the resilience of the region's financial systems by helping reduce the double mismatches (maturity and currency) of companies' investment financing. Since the launch of ABMI, local currency bond markets in the region have grown rapidly in recent decades in terms of size and diversity of issuers. This study was undertaken under ABMI and funded by the Government of Japan. It focuses on measures to expand the investor base for local currency bonds in ASEAN, the PRC, and the Republic of Korea, with the goal of generating greater variety in investment objectives and a wider range of investment strategies.
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 256 pages
File Size : 48,9 Mb
Release : 2015-07-01
Category : Business & Economics
ISBN : 9789292570156
The Asian Development Bank (ADB) is working closely with the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China (PRC), Japan, and the Republic of Korea---collectively known as ASEAN+3---to develop local currency bond markets and facilitate regional bond market integration under the Asian Bond Markets Initiative (ABMI). ABMI was launched in 2002 to strengthen the resilience of the region's financial system by developing local currency bond markets as an alternative source to foreign currency-denominated, short-term bank loans for long-term investment financing. The need for infrastructure investment among ASEAN+3 members is well documented, with estimates for needed investment through 2020 reaching as high as $550 billion. Local currency financing of infrastructure projects has the important advantage of avoiding the currency risk that can arise when a project generating revenues in the domestic currency has foreign currency-denominated debt service requirements. This study was undertaken under ABMI and funded by the Government of the PRC. It addresses two key questions: (i) Why is local currency bond financing not more widely used for infrastructure projects in ASEAN+3? and (ii) What can be done to promote infrastructure bond financing?
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 84 pages
File Size : 49,7 Mb
Release : 2015-08-01
Category : Business & Economics
ISBN : 9789292570576
The Asian Development Bank (ADB) has been working closely with the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3---to foster the development of local currency bond markets and facilitate regional bond market integration under the Asian Bond Markets Initiative (ABMI). ABMI was launched in 2002 to strengthen the resilience of the region's financial system by developing local currency bond markets as an alternative source to foreign currency denominated short-term bank loans for long-term investment. Bond investors typically have a long position in local currency bond markets. To manage their foreign exchange (FX) risk, they may want to hedge that exposure for a period of time. They also want to be sure they can easily convert the local currency to dollars upon the sale of a bond. This study was undertaken under ABMI and funded by the Government of Japan. It reviews the FX and FX hedging markets in ASEAN+3 as they relate to cross-border investments in local currency bonds, and makes recommendations to facilitate the development of the markets and FX risk management.
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 231 pages
File Size : 52,7 Mb
Release : 2018-04-01
Category : Business & Economics
ISBN : 9789292611132
The Asian Development Bank and the Association of Southeast Asian Nations and the People's Republic of China, Japan, and the Republic of Korea (ASEAN+3) are looking to explore options to promote green local currency-denominated bonds to meet the region's infrastructure development needs. Green bonds---supported within the ASEAN+3 framework---would help meet the long-term financing of the region especially in its transition to a low-carbon region. This publication highlights an assessment study of green bond markets in ASEAN+3, identifies the barriers to green bond market development, and proposes recommendations to scale up green bond markets for infrastructure development in ASEAN+3.
Author : Mr.Mangal Goswami,Mr.Sunil Sharma
Publisher : International Monetary Fund
Page : 33 pages
File Size : 52,8 Mb
Release : 2011-06-01
Category : Business & Economics
ISBN : 9781455259373
The paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.
Author : International Finance Corporation
Publisher : World Bank Publications
Page : 300 pages
File Size : 45,6 Mb
Release : 2000
Category : Business & Economics
ISBN : UCSD:31822031157969
Building local currency bond markets has become an increasingly important topic for emerging market countries, particularly since the Asian financial crisis. This report reviews why countries should consider building local currency corporate bond markets and how to evaluate what is needed and what might be developed. It includes eight country studies: Republic of Korea, Australia, Malaysia, India, Pakistan, Sri Lanka, Bangladesh, and Nepal. It is based on the IFC-sponsored South Asia Debt Market Symposium held in October 1999 in Sri Lanka, which brought together regulators and market participants from around Asia and other parts of the globe to discuss issues in developing local markets. The report is divided into two parts: Part I addresses why and how to develop bond markets. It begins with a chapter describing a framework for evaluating bond market development (which was used to produce the five South Asian country surveys in Chapters 11-15), and summarizes key points from the symposium papers and the South Asian situation. It is followed by presentations on the importance of bond markets and on the risk-management of bonds and the benefits of supranational issuance. Part II consists of country case studies.
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 69 pages
File Size : 47,7 Mb
Release : 2017-06-01
Category : Business & Economics
ISBN : 9789292578442
The Asian Bond Markets Initiative (ABMI) was launched in December 2002 by the Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China, Japan, and the Republic of Korea---collectively known as ASEAN+3 to strengthen financial stability and reduce the region’s vulnerability to the sudden reversal of capital flows. This paper also provides recommendations for addressing new sources of market volatility and other challenges within and outside the framework of the Asian Bond Markets Initiative.
Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 157 pages
File Size : 49,5 Mb
Release : 2021-03-12
Category : Business & Economics
ISBN : 9781513573922
This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening Initiative, (FIRST).The aim of the project was to deliver a report that provides emerging market and developing economies with guidance and a roadmap in developing their local currency bond markets (LCBMs). This note will also inform technical assistance missions in advising authorities on the formulation of policies to deepen LCBMs.
Author : Mahmood Pradhan,Mr.Ravi Balakrishnan,Reza Baqir,Mr.Geoffrey Heenan,Sylwia Nowak,Ceyda Oner,Mr.Sanjaya Panth
Publisher : International Monetary Fund
Page : 45 pages
File Size : 49,7 Mb
Release : 2011-04-20
Category : Business & Economics
ISBN : 9781463935122
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 121 pages
File Size : 45,5 Mb
Release : 2016-10-01
Category : Business & Economics
ISBN : 9789292575984
The Singapore bond market has become one of the most developed open capital markets in Asia with over US$221 billion in total local currency bonds outstanding with an additional US$53 billion of bonds outstanding. The Singapore Bond Market Guide is an outcome of the support and contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Singapore, while the ASEAN+3 Bond Market Guide as a whole is a comprehensive explanation of the region’s bond markets. This report should be recognized as a collective good to support bond market development among ASEAN+3 members.
Author : Mr.Mauro Mecagni,Mr.Jorge I Canales Kriljenko,Cheikh A. Gueye,Mr.Yibin Mu,Mr.Masafumi Yabara,Mr.Sebastian Weber
Publisher : International Monetary Fund
Page : 37 pages
File Size : 41,5 Mb
Release : 2014-06-04
Category : Business & Economics
ISBN : 9781475523102
This African Department Paper examines the rise in international sovereign bonds issued by African frontier economies and recommends policies for potential first-time issuers.
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 143 pages
File Size : 47,7 Mb
Release : 2017-05-01
Category : Business & Economics
ISBN : 9789292578282
The cross-cutting impact of finance on different sectors and economic activities amplifies opportunities for expanding financial inclusion and poverty reduction, which is why the Asian Development Bank's (ADB) 2011 Financial Sector Operational Plan (FSOP) was designed to address challenges ahead. ADB's finance sector operations contributed 11% of total lending portfolio over 2011-2015, about 15% of that in 2015 alone. This review examines the implementation of the 2011 FSOP and looks at the critical role of the finance sector in development in Asia and the Pacific. While this publication affirms that the FSOP remains valid and relevant, it also makes recommendations up to 2020 and provides a platform to launch the FSOP beyond 2020 to ensure its relevance with ADB's road to 2030.
Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 89 pages
File Size : 51,5 Mb
Release : 2021-12-01
Category : Business & Economics
ISBN : 9789292692858
This guidance note aims to help bond issuers and their advisors to understand the process and key considerations for a successful green bond issuance. Demand for green bonds and other sustainable finance products is increasing rapidly, and issuers are seeing an opportunity to be part of the green bond market. This publication covers all the steps required to follow best practices in labeling bonds as green. It includes examples, links to further details, and key resources for green bond issuers and their deal teams.
Author : Bambang Susantono,Donghyun Park,Shu Tian
Publisher : World Scientific
Page : 407 pages
File Size : 55,5 Mb
Release : 2019-11-19
Category : Business & Economics
ISBN : 9789811215131
First, the book documents the evolution of Asia's infrastructure over the past half-century and reviews existing literature on the role of infrastructure investment in supporting growth and social development. It highlights the positive impact of mass transit investments on land and property values, and the possibility of taxing the increase in values to finance these investments. It then examines Asia's current practices and new solutions that can help meet the infrastructure gap. It discusses the role of institutions, how innovation can foster energy infrastructure investments, and the role of bond markets in infrastructure investments. The book explores ASEAN+3 efforts in developing local currency bond markets to provide long-term local financing for infrastructure investment while providing financial resilience. It also examines the use of green bonds to finance sustainable growth in Asia.
