Study On The Development Of Aisan Bonds Market

The Asian financial crisis warned that the financial system leaning too much on banking finance was fragile. Developing the bonds market should be emphasized to prevent financial crisis.Bonds market is the main part of the capital market. The maturity of bonds market affects the competence of the capital market directly. The Asian financial system is indirect financial system that the banking capital dominated. The capital market is underdeveloped and the bonds market is immature. Bonds market plays an important role in transferring savings into investment, developing economics. In recent years, with Asian economics developing, the accelerating and the huge accumulation of foreign exchange savings became a miracle of world economics. Asian has an huge accumulation of foreign exchange savings, but there hadn't a perfect bonds market, the main part of foreign exchange savings invested in the capital market out of Asia, especially the financial capital the west issued, and the investment moved back into Asian market as short-term capital, which became the reason of economics fluctuation and the instability of finance. After the Asian financial crisis, all the countries made sense of the risks of the problem, developing the Asian bonds market was put into agenda.Developing the Asian bonds market has great meanings of making the Asian financial system completed, depending less on the banking capital, avoiding the double misfit of the loans, decreasing the fragility of the financial system, making full...