Advertisement

Contemporary Markets for Asian Debt Capital Market Instruments

  • Paul Lejot
  • Douglas Arner
  • Qiao Liu
Part of the The Milken Institute Series on Financial Innovation and Economic Growth book series (MILK, volume 6)

Keywords

Central Bank Banking Sector Bond Market Debt Market Credit Derivative 
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.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Akhtar, S., 2001, ‘Institutional investors in Asia’, OECD Financial Trends, October.Google Scholar
  2. Allen, F., Qian Jun & Qian Meijun, 2002, ‘Law, finance and economic growth in China’, Wharton Financial Institutions Center working paper 02-44; Journal of Financial Economics, 2005.Google Scholar
  3. Arner, D., 2002a, ‘Emerging market economies and government promotion of securitization’, 12 Duke J. Comp. & Int’l L. 505.Google Scholar
  4. Arner, D., 2002b. ‘Globalization of financial markets: an international passport for securities offerings?’, 35 Int’l Law. 1543.Google Scholar
  5. Amer, D., M. Yokoi-Aral & Z. Zhou, (eds.), 2001, ‘Financial crisis in the 1990s’, London, British Institute of International & Comparative Law.Google Scholar
  6. Aziz, J. & C. Duenwald, 2002, ‘Growth-financial intermediation nexus in China’, IMF working paper 02/194.Google Scholar
  7. Baskin, J., 1988, ‘The development of corporate financial markets in Britain and the United States, 1600–1914: overcoming asymmetric information’, Business History Review 62(2,.Google Scholar
  8. Beck, T., Demirgiig-Kunt, A. & Levine, R, 2002, ‘Law and finance: why does legal origin matter?’, World Bank policy research working paper 2904.Google Scholar
  9. Beck, T., Demirgtig-Kunt, A. & Maksimovic, V., 2002, ‘Financing patterns around the world: the role of institutions’, World Bank policy research working paper 2905.Google Scholar
  10. Bhagwati, J. 1996, ‘The miracle that did happen: understanding East Asia in comparative perspective’, keynote address to Cornell University conference, May.Google Scholar
  11. Bordo, M., Meissner, C. & Redish, A., 2003, ‘How ‘original sin’ was overcome: the evolution of external debt denominated in domestic currencies in the United States & the British dominions 1800-2000’, National Bureau of Economic Research working paper 9841.Google Scholar
  12. Borio, C., 2003, ‘Market distress and vanishing liquidity: anatomy and policy options’, in Persaud, A., ed, ‘Liquidity black holes understanding, quantifying and managing financial liquidity risk’, London, Risk Books.Google Scholar
  13. Cal Hongbin, Liu Qiao & Xiao Geng, 2004, ‘Does Competition Discipline Firms? The Case of Corporate Profit Hiding in China, Hong Kong Institute of Economics and Business Strategy working paper 1126.Google Scholar
  14. Cerra, V. & C. Saxena 2003, ‘Did output recover from the Asian crisis?’, World Bank working paper 03/48.Google Scholar
  15. Corsetti, G., P. Pesenti & N. Roubini, 1998, ‘What caused the Asian currency & financial crisis?’, parts I & II, National Bureau of Economic Research.Google Scholar
  16. Crockett, A., 2002, ‘Capital flows in East Asia since the crisis’, speech in Beijing to ASEAN+3 group, BIS, October.Google Scholar
  17. Eichengreen, B. & Hausmann, R., 1999, ‘Exchange rates and financial fragility’, National Bureau of Economic Research working paper 7418.Google Scholar
  18. Eichengreen, B., R. Hausmann & U. Panizza 2002, ‘Original sin: the pain, the mystery, & the road to redemption’, presentation at conference ‘Currency & maturity matchmaking: redeeming debt from original sin’, Inter-American Development Bank.Google Scholar
  19. Emery, R., 1997 ‘The Bond Markets of Developing East Asia’, Boulder, CO, Westfleld Press.Google Scholar
  20. Fernald, J. & Babson, O., 1999, ‘Why has China survived the Asian crisis so well? What risks remain?’, Federal Reserve System international finance discussion papers 633.Google Scholar
  21. Gerschenkron, A., 1962, ‘Reflections on the concept of ‘prerequisites of modern industrialization’, in ‘Economic backwardness in historical perspective’, Cambridge MA, Belknap Press.Google Scholar
  22. Goldsmith, R., 1969, ‘Financial structure and development’, New Haven CT, Yale University Press.Google Scholar
  23. Goldsmith, R., 1983, ‘The financial development of Japan, 1868–1977’, New Haven CT, Yale University Press,.Google Scholar
  24. Greenspan, A. 2000, ‘Global Challenges’, speech to Financial Crisis Conference, Council on Foreign Relations, Washington, DC, available at 〈http://www.cff.org/〉.Google Scholar
  25. Gregory, N., & S. Tenev, 2001, ‘The financing of private enterprise in China’, IMF ‘Finance & Development’, March.Google Scholar
  26. Harwood, A., 2002, ‘Building corporate bond markets in emerging market countries’, presentation to OECD/World Bank workshop on bond markets.Google Scholar
  27. Harwood, A., ed, 2000, ‘Building local bond markets, an Asian perspective’, International Finance Corporation.Google Scholar
  28. Herring, R. & Chatusripitak, N., 2000, ‘The case of the missing market: the bond market & why it matters for financial development’, Asian Development Bank Institute working paper.Google Scholar
  29. Jiang, G., N. Tang & E. Law, 2001, ‘Cost-benefit analysis of developing bond markets’, Hong Kong Monetary Authority Quarterly Bulletin, November.Google Scholar
  30. King, M., 2001, ‘Who triggered the Asian financial crisis?’, Review of International Political Economy 8(3,.Google Scholar
  31. Krugman, P., 1994, ‘The myth of Asia’s miracle’, Foreign Affairs, Nov-Dec.Google Scholar
  32. Lejot, P., D. Amer & Liu Qian, 2004, ‘Making markets: reforms to strengthen Asia’s debt capital markets’ Hong Kong Institute For Monetary Research Working Paper 13.Google Scholar
  33. Liu Qiao & Lu Zhou, 2004, ‘Earnings management to tunnel: evidence from China’s listed companies’, Hong Kong Institute of Economics and Business Strategy working paper 1097.Google Scholar
  34. Liu Qiao & Xiao Geng, 2004, ‘Look Who Are Disguising Profits: An Application to Chinese Industrial Firms’, Hong Kong Institute of Economics and Business Strategy working paper 1095.Google Scholar
  35. MeCauley, R., Fung, S.S. & Gadaneez, B., 2002, ‘Integrating the finances of East Asia’, BIS Quarterly Review, December.Google Scholar
  36. Mohanty, M., 2002, ‘Improving liquidity in government bond markets: what can be done?’BIS papers 11.Google Scholar
  37. North, D., 1995, ‘Some fundamental puzzles In economic history/development’, Economics Working Paper Archive at WUSTL No 9509001.Google Scholar
  38. Oh, G.T., Park, D.K., Park, J.H. & Yang, D.Y. 2003, ‘How to mobilize the Asian savings within the region: securitization & credit enhancement for the development of East Asia’s bond market’, Korea Institute for International Economic Policy working paper 03-02, Seoul.Google Scholar
  39. Pettis, M., 2000, ‘The risk management benefits of bonds’, in Harwood, 2000, op cit,.Google Scholar
  40. Pomerleano, M., 1998, ‘The East Asia crisis and corporate finance—the untold micro story’, World Bank policy research working paper 1990.Google Scholar
  41. Rajan, R., 2002, ‘Is there a case for an Asian bond fund? It depends!’, University of Adelaide mimeo.Google Scholar
  42. 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, Volume 1Manila, Philippines: Asian Development Bank, 2000, 107–174.Google Scholar
  43. Stiglitz, J., et al, 1999, transcript of press conference to introduce World Bank development report 1999/2000, 15 September.Google Scholar
  44. Takagi, S., 2000, ‘Fostering capital markets in a bank-based financial system’, Asian Development Review 19/1.Google Scholar
  45. World Bank, 2003, ‘Global development finance’, Washington, DC.Google Scholar
  46. Xiao Geng, 2004, ‘People’s Republic of China’s round-tripping FDI: scale, causes and implications’, Manila: Asian Development Bank Institute discussion paper No. 7.Google Scholar
  47. Yoshitomi, M. & Shirai, S., 2001, ‘Designing a financial market structure in post-crisis Asia; how to develop corporate bond markets’, Asian Development Bank Institute working paper 15.Google Scholar
  48. Young, A., 1995, ‘The tyranny of numbers: cont~onting the statistical realities of the East Asian growth experience’, Quarterly Journal of Economics, August.Google Scholar

Copyright information

© Milken Institute 2006

Authors and Affiliations

  • Paul Lejot
    • 1
  • Douglas Arner
    • 1
  • Qiao Liu
    • 2
  1. 1.Asian Institute of International Financial Law, Faculty of LawUniversity of Hong KongHongkong
  2. 2.Faculty of Business and EconomicsUniversity of Hong KongHongkong

Personalised recommendations