01879cas a2200253 a 4500 AALejournalIMF000776 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451977349 1018-5941 BD-DhAAL BD-DhAAL Schinasi, Garry. Fixed-Income Markets in the United States, Europe, and Japan-Some Lessons for Emerging Markets / Garry Schinasi, T. Smith. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper identifies factors that contributed to the development and effectiveness of debt securities markets in the major advanced economies. Government securities markets have benefited from their international orientation-debt management is most effective when it is independent of monetary and exchange rate policies; and financial infrastructures should be patterned on the standards of liquidity, transparency, issuing and trading efficiency, and tax treatment. The same degree of consensus does not exist for corporate debt securities markets. The paper identifies six regulatory and market-created factors that help explain why the U.S. corporate debt market has flourished, while corporate debt securities markets elsewhere have only recently begun to develop. Mode of access: Internet Smith, T. IMF Working Papers; Working Paper ; No. 1998/173 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/173/001.1998.issue-173-en.xml IMF e-Library