Developing Asian Bondmarkets.(Book Review)

Developing Asian Bondmarkets. Edited by Takatoshi Ito and Yung Chul Park. Canberra: Asia Pacific Press at the Australian National University, 2004. Pp. 178.

This edited volume is the outcome of the 2003 Financial Forum organized by the Pacific Economic Co-operation Council in Thailand. The nine contributors are financial experts/academics from Hong Kong, Japan, Korea, and the United States. This book is an attempt to delve into developing bondmarkets in Asia region after the 1997-98 financial crisis. The editors expect the research output of this book to get the attention of policy-makers in ASEAN+3 and other APEC governments.

The volume consists of an introduction and six individual chapters. Chapter 1 "Overview: Challenges and Strategies" is written by the editors. It offers a quick overview of bondmarkets in Asia and the significance of the Asian bondmarket development. The editors stress that the policy-makers in the region have recognized the importance of bondmarkets in mitigating future …