Developing bond markets in Latin America and the Caribbean (II)

Pietro Masci, Benjamin M. Rowland

HP Exchange handbook - 2004

Developing bond markets in Latin America and the Caribbean (version II)

The development of financial markets is a critical challenge for emerging-market countries. As with so many other facets of the globalising economy, there are positive as well as defensive reasons for rising to this challenge.

For many emerging-market countries, financial-sector and capital market development starts with the development of a government bond market.
This is a logical path, not only because governments are usually the largest domestic borrowers and have the best credit in the nation, but also because governments, by their actions or inaction, affect the scope and potential for market development throughout the economy.

The purpose of this article is to provide a review of the progress of and prospects for the development of government bond markets in the Latin American and Caribbean region.
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(06/01/2004)

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