연구정보
[경제] Local Currency Bond Market Development and Currency Stability amid Market Turmoil
동남아시아 일반 국외연구자료 연구보고서 - Asian Development Bank 발간일 : 2023-07-03 등록일 : 2023-07-09 원문링크
Using data from global economies, this study finds that in economies with more developed LCY bond markets, exchange rate volatility is lower during market turmoil. Currency volatility is lowered in bond markets with a greater share of LCY bonds and long-term bonds, even during normal times. The findings suggest that LCY bond market development contributes to financial stability especially during stress times.
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