Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation
This is the second volume of a study on the insights from a 12-country pilot program on public debt management and domestic government debt market development. The discussion of domestic government debt market development in this book uses a buildi...
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| Language: | English en_US |
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Washington, DC: World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/01/8072902/developing-domestic-government-debt-market-diagnostics-reform-implementation http://hdl.handle.net/10986/6707 |
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okr-10986-67072021-04-23T14:02:26Z Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation World Bank ACTIVE DEBT MARKET ECONOMY MARKET EFFICIENCY MARKET FRAGMENTATION MARKET INDEXES MARKET INSTABILITY MARKET INSTRUMENTS MARKET INTEREST RATES MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET PARTICIPANTS MARKET TRADING MARKETABLE SECURITIES MATURITY MONETARY AUTHORITY MONETARY CONTROL MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY MARKETS MONEY-MARKET MORTGAGE MORTGAGE BONDS PAYMENT SYSTEMS PENSION PENSION SYSTEM PORTFOLIOS POTENTIAL INVESTORS PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY DEALERS PRIMARY MARKET PRIMARY MARKETS PRIVATE BANKS PROMISSORY NOTES PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPO REPO AGREEMENT REPO AGREEMENTS REPO MARKET REPOS RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETAIL INVESTORS REVERSE REPO TRANSACTIONS RISK MANAGEMENT RISK MANAGEMENT SERVICES RISK PREMIUMS SECONDARY DEBT SECONDARY DEBT MARKETS SECONDARY MARKETS SETTLEMENT SETTLEMENT INFRASTRUCTURE SETTLEMENT PROCEDURES SETTLEMENT SYSTEM SETTLEMENT SYSTEMS SHORT-TERM INSTRUMENTS SHORT-TERM INTEREST RATES SHORT-TERM LIQUIDITY SOLVENCY STOCK EXCHANGE TAX TERM DEPOSITS TRADING TRANSACTIONS COSTS TREASURY TREASURY BILL TREASURY BILL AUCTIONS TREASURY BILL RATE TREASURY BILLS TREASURY BONDS USE OF REPO VALUATION YIELD CURVE This is the second volume of a study on the insights from a 12-country pilot program on public debt management and domestic government debt market development. The discussion of domestic government debt market development in this book uses a building block approach to gain insights into development priorities and approaches across the 12 countries in the pilot program. Chapter 2 discusses the essential importance of money markets for the development of a government securities market. Chapter 3 addresses primary markets and describes how the authorities borrow in the domestic market, including the selection of instruments, issuance techniques, and relationships with financial intermediaries. Chapter 4 explains that the 12 pilot-program countries vary considerably in the composition of investors, but few have well-established contractual savings institutions and in all countries commercial banks play a dominant role. Chapter 5 considers the importance of well-functioning secondary markets for providing a cost-efficient environment in which market participants can trade government securities in a fair and transparent manner. Chapter 6 describes how an efficient securities custody and settlement infrastructure strengthens investor confidence, limits exposure to systemic risk, and reduces transactions costs. Chapter 7 discusses the importance of sound debt market regulation. Finally, chapter 8 highlights the complexity of reform programs, the interaction between different aspects of debt markets, and the importance of path dependence (that is, previous outcomes and measures) in debt market development. 2012-05-30T20:26:07Z 2012-05-30T20:26:07Z 2007 http://documents.worldbank.org/curated/en/2007/01/8072902/developing-domestic-government-debt-market-diagnostics-reform-implementation 978-0-8213-6874-5 http://hdl.handle.net/10986/6707 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACTIVE DEBT MARKET ECONOMY MARKET EFFICIENCY MARKET FRAGMENTATION MARKET INDEXES MARKET INSTABILITY MARKET INSTRUMENTS MARKET INTEREST RATES MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET PARTICIPANTS MARKET TRADING MARKETABLE SECURITIES MATURITY MONETARY AUTHORITY MONETARY CONTROL MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY MARKETS MONEY-MARKET MORTGAGE MORTGAGE BONDS PAYMENT SYSTEMS PENSION PENSION SYSTEM PORTFOLIOS POTENTIAL INVESTORS PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY DEALERS PRIMARY MARKET PRIMARY MARKETS PRIVATE BANKS PROMISSORY NOTES PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPO REPO AGREEMENT REPO AGREEMENTS REPO MARKET REPOS RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETAIL INVESTORS REVERSE REPO TRANSACTIONS RISK MANAGEMENT RISK MANAGEMENT SERVICES RISK PREMIUMS SECONDARY DEBT SECONDARY DEBT MARKETS SECONDARY MARKETS SETTLEMENT SETTLEMENT INFRASTRUCTURE SETTLEMENT PROCEDURES SETTLEMENT SYSTEM SETTLEMENT SYSTEMS SHORT-TERM INSTRUMENTS SHORT-TERM INTEREST RATES SHORT-TERM LIQUIDITY SOLVENCY STOCK EXCHANGE TAX TERM DEPOSITS TRADING TRANSACTIONS COSTS TREASURY TREASURY BILL TREASURY BILL AUCTIONS TREASURY BILL RATE TREASURY BILLS TREASURY BONDS USE OF REPO VALUATION YIELD CURVE |
| spellingShingle |
ACTIVE DEBT MARKET ECONOMY MARKET EFFICIENCY MARKET FRAGMENTATION MARKET INDEXES MARKET INSTABILITY MARKET INSTRUMENTS MARKET INTEREST RATES MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET PARTICIPANTS MARKET TRADING MARKETABLE SECURITIES MATURITY MONETARY AUTHORITY MONETARY CONTROL MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET MONEY MARKET RATES MONEY MARKETS MONEY-MARKET MORTGAGE MORTGAGE BONDS PAYMENT SYSTEMS PENSION PENSION SYSTEM PORTFOLIOS POTENTIAL INVESTORS PRIMARY DEALER PRIMARY DEALER SYSTEM PRIMARY DEALERS PRIMARY MARKET PRIMARY MARKETS PRIVATE BANKS PROMISSORY NOTES PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPO REPO AGREEMENT REPO AGREEMENTS REPO MARKET REPOS RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETAIL INVESTORS REVERSE REPO TRANSACTIONS RISK MANAGEMENT RISK MANAGEMENT SERVICES RISK PREMIUMS SECONDARY DEBT SECONDARY DEBT MARKETS SECONDARY MARKETS SETTLEMENT SETTLEMENT INFRASTRUCTURE SETTLEMENT PROCEDURES SETTLEMENT SYSTEM SETTLEMENT SYSTEMS SHORT-TERM INSTRUMENTS SHORT-TERM INTEREST RATES SHORT-TERM LIQUIDITY SOLVENCY STOCK EXCHANGE TAX TERM DEPOSITS TRADING TRANSACTIONS COSTS TREASURY TREASURY BILL TREASURY BILL AUCTIONS TREASURY BILL RATE TREASURY BILLS TREASURY BONDS USE OF REPO VALUATION YIELD CURVE World Bank Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation |
| description |
This is the second volume of a study on
the insights from a 12-country pilot program on public debt
management and domestic government debt market development.
The discussion of domestic government debt market
development in this book uses a building block approach to
gain insights into development priorities and approaches
across the 12 countries in the pilot program. Chapter 2
discusses the essential importance of money markets for the
development of a government securities market. Chapter 3
addresses primary markets and describes how the authorities
borrow in the domestic market, including the selection of
instruments, issuance techniques, and relationships with
financial intermediaries. Chapter 4 explains that the 12
pilot-program countries vary considerably in the composition
of investors, but few have well-established contractual
savings institutions and in all countries commercial banks
play a dominant role. Chapter 5 considers the importance of
well-functioning secondary markets for providing a
cost-efficient environment in which market participants can
trade government securities in a fair and transparent
manner. Chapter 6 describes how an efficient securities
custody and settlement infrastructure strengthens investor
confidence, limits exposure to systemic risk, and reduces
transactions costs. Chapter 7 discusses the importance of
sound debt market regulation. Finally, chapter 8 highlights
the complexity of reform programs, the interaction between
different aspects of debt markets, and the importance of
path dependence (that is, previous outcomes and measures) in
debt market development. |
| format |
Publications & Research :: Publication |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation |
| title_short |
Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation |
| title_full |
Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation |
| title_fullStr |
Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation |
| title_full_unstemmed |
Developing the Domestic Government Debt Market : From Diagnostics to Reform Implementation |
| title_sort |
developing the domestic government debt market : from diagnostics to reform implementation |
| publisher |
Washington, DC: World Bank |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2007/01/8072902/developing-domestic-government-debt-market-diagnostics-reform-implementation http://hdl.handle.net/10986/6707 |
| _version_ |
1764398364563079168 |