The Asian Bond Markets Initiative: Policy maker achievements and challenges | Asian Development Bank

The Asian Bond Markets Initiative: Policy maker achievements and challenges

Publication | June 2017
The Asian Bond Markets Initiative: Policy maker achievements and challenges

This paper describes achievements under the Asian Bond Markets Initiative and the direction of ASEAN+3 over the medium-term.

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.

Contents 

  • Introduction
  • Background
  • Progress Made Since 2008
    • Task Force 1: Promoting the Issuance (Supply) of Local-Currency-Denominated Bonds
    • Task Force 2: Facilitating Demand for Local-Currency-Denominated Bonds
    • Task Force 3: Strengthening the Regulatory Framework
    • Task Force 4: Improving Related Infrastructure for Bond Markets
    • Technical Assistance Coordinating Team
    • Other Regional Initiatives and Sweeping Reforms at the National Level
    • Activities to Support the Asian Bond Markets Initiative over the Medium-Term
    • Task Force 1: Promoting Issuance of Local-Currency-Denominated Bonds
    • Task Force 2: Facilitating Demand for Local-Currency-Denominated Bonds
    • Task Force 3: Strengthening the Regulatory Framework
    • Task Force 4: Improving Related Infrastructure for Bond Markets
    • Technical Assistance Coordinating Team
  • Local Currency Bond Markets Development and New Challenges
  • Policy Considerations