Asia’s missing market
Given all its other problems, Asia’s lack of bond markets seems trivial. Far from it
“IF I could turn back the clock and have a wish list,” Thailand's central-bank governor reflected recently, “high in its ranking would be a well-functioning Thai-baht bond market.” After the financial crisis of the late 1990s, many policymakers now talk of the need for big, liquid markets in local-currency bonds. Whether they get them is another matter.
This article appeared in the Finance & economics section of the print edition under the headline “Asia’s missing market”
From the September 2nd 2000 edition
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