The bond markets of developing East Asia

Drawing on the most recent data available, this comprehensive book provides detailed descriptions and analyses of the bond markets in eight East Asian developing economies: Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Taiwan, and Thailand. Robert Emery devotes a full chapter to evaluating the strengths and weaknesses of each country's bond market. For each country, Emery describes the history of the bond market and identifies its key participants, the different types of bonds, and the current terms for bond issues. He also discusses the size of the bond market, the bond issuing process, trading procedures, the structure of the market, the clearing settlement system, and fees and taxes. Finally, he examines the regulators of the market, current regulations, and bond rating agencies; assesses the market's past performance; and offers suggestions for improvement. Each country chapter is organized into a standard format, making it easy for the reader to locate and compare specific information. Emery concludes the book with cross-country comparisons of the eight countries' bond markets. It is an invaluable reference for economists, policymakers, and all those interested in emerging capital markets.