Developing India's Corporate Bond Market

World Bank

Washington, DC

关键词: ACCOUNTING;    AUCTION;    BALANCE SHEETS;    BANK FOR INTERNATIONAL SETTLEMENTS;    BANK LENDING;   

RP-ID  :  39197

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

A well-developed corporate bond marketis essential for the efficiency and stability of acountry's financial system and the overall growth ofits economy. Issuers and investors' access to themarket provides for financial diversification andfacilitates necessary financing, which benefits not onlyAAA-rated corporations but also less well known,sub-investment grade corporations and infrastructuredevelopers. This note examines the state of India'scorporate bond market, identifies constraints that inhibitits size and depth, and suggests reform measures that Indianeeds to take to develop its market into a competitivesource of financing for a wide range of issuers and anattractive investment for a wide range of investors.Recommendations are based not only on an assessment ofconditions in India, but also on relevant international experience.