Eichengreen, Barry; Luengnaruemitchai, Pipat - Hong Kong Institute for Monetary Research (HKIMR), … - 2004
Asia¡¦s underdeveloped bond markets and dependence on bank finance have been topics of concern since the crisis of 1997-98. In this paper we document that the slow development of Asian bond markets is a phenomenon with multiple dimensions. Larger country size, stronger institutions, less...