The Public Debt Management Newtwork
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Developing Domestic Bond Markets

One of the significant areas in debt management, especially for emerging countries, is the development of domestic capital markets. This issue, following the recent international financial crises, has increasingly attracted the attention of policy-makers making rise the issuance of policy recommendations and guidelines by both multilateral and regional organisations. In this section you can find a description of the challenges encountered by many governments and an analysis of the key ingredients for accelerating the development of bond markets such as effective benchmark functioning, ample liquidity and low transaction costs, safe and efficient market infrastructure, regulatory systems that ensure low barriers to funding and investment, good availability of reliable information, transparency of accounting, and sound market practices. In particular, a great attention will be put to illustrate the critical government's role, as an issuer, regulator, coordinator and promoter, in formulating and setting up the development roadmap.

The following are documents published up to and including the year 2003. From 2004 to 2010 all documents can be found only in the archive available in the website’s Reserved area. Instead, since January 2011, all documents will be found in both areas of the website. Access to the Reserved area is free, but limited to Partners only. Please find more information at the Join us section.

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