Opportunities and Challenges in Asian Bond Markets

  • James R. Barth
  • Donald McCarthy
  • Triphon Phumiwasana
  • Glenn Yago
Part of the The Milken Institute Series on Financial Innovation and Economic Growth book series (MILK, volume 6)


Yield Curve Bank Loan Bond Market Corporate Bond Asian Economy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Barth, James R., Daniel E. Nolle, Hilton L. Root and Glenn Yago. 2001. “Choosing the Right Financial System for Growth,” Journal of Applied Corporate Finance, 13(4), 116–123.CrossRefGoogle Scholar
  2. Beck, Thorsten and Ross Levine. 2004. “Stock Markets, Banks, and Growth: Panel Evidence,” Journal of Banking and Finance, 28(3), 423–442.CrossRefGoogle Scholar
  3. Brandt, Michael and Kenneth Kavajecz. Price Discovery in the U.S. Treasury Market: The Impact of Orderflow and Liquidity on the Yield Curve. Wharton School working paper.Google Scholar
  4. Brandt, Michael W. and Kenneth A. Kavajecz. 2004. “Price Discovery in the U.S. Treasury Market: The Impact of Order flow and Liquidity on the Yield Curve” Journal of Finance, 59, 2623–2654.CrossRefGoogle Scholar
  5. Dalla, Ismail. 2003. Harmonization of Bond Market Rules and Regulations in Selected APEC Economies, Mandaluyong City, Philippines: Asian Development BankGoogle Scholar
  6. Davis, E. Philip and Christos Ioannidis. 2002. “Does the Availability of Bank Borrowing and Bond Issuance Smooth Overall Corporate Financing,” Brunel University Working Paper.Google Scholar
  7. Demirgü ç-Kunt, Asli and Ross Levine, editors. 2001. Financial Structure and Economic Growth: A Cross Country Comparison of Banks, Markets, and Development, Cambridge, MA: MIT Press.Google Scholar
  8. Domowitz, Ian, Jack Glen and Ananth Madhavan. 2001. “International Evidence on Aggregate Corporate Financing Decisions,” in Asli Demirgü ç-Kunt and Ross Levine, editors, Financial Structure and Economic Growth: A Cross Country Comparison of Banks, Markets, and Development, Cambridge, MA: MIT Press, 263–295.Google Scholar
  9. Eichengreen, Barry and Pipat Luengnaruemitehai. 2004. “Why Doesn’t Asia Have Bigger Bond Markets?, ” NBER Working Papers 10576, National Bureau of Economic Research, June.Google Scholar
  10. Eichengreen, Barry. 2004. “The Unintended Consequences of the Asian Bond Fund,” unpublished manuscript, University of California, Berkeley, February.Google Scholar
  11. Giddy, H. Ian. 2001. “Financial Institution Risk Management: The Impact of Securitization,” presented at the seminar on Risk Management in Financial Institutions, Sogang University, Seoul, October 2001Google Scholar
  12. Greenspan, Alen. (1999) “Lessons from the global crises,” Speech before the World bank group and the IMF, Program of Seminars, Washington, D.C. September 27th.Google Scholar
  13. Haüsler, Gerd, Donald J. Mathieson and Jorge Roldos. 2003. “Trends in Developing-Country Capital Markets around the World,” in Robert Litan, Michael Pomerleano and V. Sundararajan editors, The Future of Domestic Capital Markets in Developing Countries, Washington D.C. Brooking Institution Press, 21–44.Google Scholar
  14. Herring, Richard J., and Nathporn Chatusripitak. 2001. “The Case of the Missing Market: The Bond Market and Why it Matters for Financial Development,” The Wharton School Financial Institutions Center, Working Paper 01-08, August.Google Scholar
  15. International Monetary Fund (IMF). 2002. “Global Financial Stability Report. In Emerging Local Bond Markets. Washington, D. C.Google Scholar
  16. Levine, Ross and Sara Zervos. 1998. “Stock Market, Bank, and Economic Growth,” American Economic Review, 88(3), 537–558.Google Scholar
  17. Levine, Ross. 1997. “Financial Development and Economic Growth: Views and Agenda,” Journal of Economic Literature, 35(2), 688–726.Google Scholar
  18. Mihaljek, Dubravko, Michaela Scatigna and Agustin Villar. 2002. “Recent Trends in Bond Markets,” The Development of Bond Markets in Emerging Economies, BIS Papers No. 11. Basel, Switzerland: Bank for International Settlements, 13–41.Google Scholar
  19. Milken, Michael. 2002. “The Corporate Financing Cube: Matching Capital Structure to Business Risk,” Milken Institute Review, 4th Quarter, 78–85.Google Scholar
  20. Miller, Merton. 1998. “Financial Markets and Economic Growth,” Journal of Applied Corporate Finance, 11(3), Fall, 8–15.CrossRefGoogle Scholar
  21. Patil, R. H. 2001. “Broadbasing & Deepening the Bond Market in India,” The Wharton Financial Institutions Center, Working Paper 01-32.Google Scholar
  22. Phumiwasana, Triphon. 2003. Financial Structure, Economic Growth and Stability, Claremont Graduate University, Department of Economics, Ph.D. Dissertation.Google Scholar
  23. Rajah, Raghumm G. and Luigi Zingales. 1998. “Financial Dependence and Growth,” American Economic Review, 88(3), 559–86.Google Scholar
  24. Schnasi, Garry and R. Todd Smith. 1998. Fixed lncome Markets in the United States, Europe and Japan: Some Lessons for Emerging Markets. International Monetary Fund working paper.Google Scholar
  25. World Bank. 2001. Finance for Growth: Policy Choices in a Volatile World, A World Bank Policy Research Report, Oxford University Press.Google Scholar

Copyright information

© Milken Institute 2006

Authors and Affiliations

  • James R. Barth
    • 1
  • Donald McCarthy
    • 1
  • Triphon Phumiwasana
    • 1
  • Glenn Yago
    • 1
  1. 1.Milken InstituteUSA

Personalised recommendations