Turkey - Corporate Bond Market Development : Priorities and Challenges
The study is in response to a request by the Capital Markets Board of Turkey to assist them in developing the corporate bond market in line with best practices globally. The objective of this study is to carry out an assessment of the status of the...
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| Format: | Other Financial Sector Study |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/02/16264383/turkey-corporate-bond-market-development-priorities-challenges http://hdl.handle.net/10986/12439 |
| id |
okr-10986-12439 |
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| recordtype |
oai_dc |
| 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 |
ACCOUNT RECEIVABLES ACCOUNTING ALTERNATIVE FUNDING ASSET MANAGEMENT BALANCE SHEET BANK CREDIT BANK FINANCING BANK LENDING BANK LOANS BANK REGULATIONS BANKING ASSETS BANKING CRISIS BANKING REGULATION BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK BONDS BENCHMARK YIELD BENCHMARK YIELD CURVE BLUE CHIP BOND HOLDERS BROKER BROKERAGE BROKERAGE FIRMS CAPITAL ADEQUACY CAPITAL GAINS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK COLLATERAL COLLECTIVE INVESTMENT COMMERCIAL BANKING CONSUMER CREDIT CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKET DEVELOPMENT CORPORATE BOND MARKETS CORPORATE BONDS CORPORATE DEBT CORPORATE MARKET CREDIT RATING CREDITORS CURRENCY RISK CURRENCY RISKS CURRENT ACCOUNT DEFICIT CUSTODY DEBENTURES DEBT DEBT INSTRUMENTS DEBT ISSUANCE DEBT STOCK DEPOSITS DERIVATIVE DERIVATIVE MARKETS DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES MARKET DEVELOPMENT BANK DEVELOPMENT OF BOND MARKETS DIVERSIFIED INVESTOR DIVERSIFIED INVESTOR BASE DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BORROWING DOMESTIC BORROWINGS DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC INTEREST RATES DOMESTIC MARKET EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET DEBT EQUITY MARKET EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXTERNAL BORROWING FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL DEFICIT FIXED ASSETS FIXED INCOME FIXED RATE BONDS FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FUND MANAGERS FUTURES GLOBAL BOND GLOBAL BOND MARKETS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDING INFLATION INFLATION RATE INITIAL PUBLIC OFFERING INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL DEBT INTERNATIONAL FINANCE INTERNATIONAL INTEREST INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENT INVESTABLE FUNDS INVESTMENT BANKS INVESTMENT CLIMATE INVESTMENT IN GOVERNMENT SECURITIES INVESTOR BASE INVESTOR BASES INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTORS IN GOVERNMENT SECURITIES IPO LEVEL PLAYING FIELD LIQUID BOND MARKET LIQUIDITY LOAN LOCAL BANK LOCAL CURRENCY LOCAL MARKET LONG-TERM FINANCE MACROECONOMIC CONDITION MACROECONOMIC CONDITIONS MACROECONOMIC INSTABILITY MARK-TO-MARKET MARKET CAPITALIZATION MARKET DEEPENING MARKET INFRASTRUCTURE MARKET INFRASTRUCTURES MARKET INTERMEDIARY MARKET MAKING MARKET PARTICIPANTS MARKET REFORMS MARKET SIZE MARKET-MAKING MATURITIES MATURITY MATURITY MISMATCH MONETARY FUND MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUNDS NATIONAL SAVING OUTSTANDING DEBT PENSION PENSION FUND PENSION FUNDS PENSION SYSTEM PORTFOLIO PORTFOLIO MANAGEMENT PRIMARY DEALERS PRIMARY MARKET PRIVATE DEBT PUBLIC DEBT PUBLIC DEBT MANAGEMENT REAL ESTATE INVESTMENT REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY STRUCTURE RESERVE RESERVE REQUIREMENTS RETAIL INVESTOR RETURNS RISK MANAGEMENT SAVINGS RATE SAVINGS RATES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY MARKETS SECURITIES SECURITIES MARKET SECURITIES MARKETS SMALL INVESTOR SOVEREIGN BENCHMARK SOVEREIGN DEBT SOVEREIGN DEBT MARKET SOVEREIGN RATING SOVEREIGN YIELD STOCK EXCHANGE STOCK MARKET STOCKS SUPERVISORY AUTHORITY TAX TAX FRAMEWORK TAX FRAMEWORKS TAX RATES TAX SYSTEM TRADING TRANSACTION TRANSACTION COSTS TREASURY TREATY VALUE OF ASSETS YIELD CURVE |
| spellingShingle |
ACCOUNT RECEIVABLES ACCOUNTING ALTERNATIVE FUNDING ASSET MANAGEMENT BALANCE SHEET BANK CREDIT BANK FINANCING BANK LENDING BANK LOANS BANK REGULATIONS BANKING ASSETS BANKING CRISIS BANKING REGULATION BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK BONDS BENCHMARK YIELD BENCHMARK YIELD CURVE BLUE CHIP BOND HOLDERS BROKER BROKERAGE BROKERAGE FIRMS CAPITAL ADEQUACY CAPITAL GAINS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK COLLATERAL COLLECTIVE INVESTMENT COMMERCIAL BANKING CONSUMER CREDIT CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKET DEVELOPMENT CORPORATE BOND MARKETS CORPORATE BONDS CORPORATE DEBT CORPORATE MARKET CREDIT RATING CREDITORS CURRENCY RISK CURRENCY RISKS CURRENT ACCOUNT DEFICIT CUSTODY DEBENTURES DEBT DEBT INSTRUMENTS DEBT ISSUANCE DEBT STOCK DEPOSITS DERIVATIVE DERIVATIVE MARKETS DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES MARKET DEVELOPMENT BANK DEVELOPMENT OF BOND MARKETS DIVERSIFIED INVESTOR DIVERSIFIED INVESTOR BASE DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BORROWING DOMESTIC BORROWINGS DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC INTEREST RATES DOMESTIC MARKET EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET DEBT EQUITY MARKET EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXTERNAL BORROWING FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL DEFICIT FIXED ASSETS FIXED INCOME FIXED RATE BONDS FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FUND MANAGERS FUTURES GLOBAL BOND GLOBAL BOND MARKETS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDING INFLATION INFLATION RATE INITIAL PUBLIC OFFERING INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL DEBT INTERNATIONAL FINANCE INTERNATIONAL INTEREST INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENT INVESTABLE FUNDS INVESTMENT BANKS INVESTMENT CLIMATE INVESTMENT IN GOVERNMENT SECURITIES INVESTOR BASE INVESTOR BASES INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTORS IN GOVERNMENT SECURITIES IPO LEVEL PLAYING FIELD LIQUID BOND MARKET LIQUIDITY LOAN LOCAL BANK LOCAL CURRENCY LOCAL MARKET LONG-TERM FINANCE MACROECONOMIC CONDITION MACROECONOMIC CONDITIONS MACROECONOMIC INSTABILITY MARK-TO-MARKET MARKET CAPITALIZATION MARKET DEEPENING MARKET INFRASTRUCTURE MARKET INFRASTRUCTURES MARKET INTERMEDIARY MARKET MAKING MARKET PARTICIPANTS MARKET REFORMS MARKET SIZE MARKET-MAKING MATURITIES MATURITY MATURITY MISMATCH MONETARY FUND MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUNDS NATIONAL SAVING OUTSTANDING DEBT PENSION PENSION FUND PENSION FUNDS PENSION SYSTEM PORTFOLIO PORTFOLIO MANAGEMENT PRIMARY DEALERS PRIMARY MARKET PRIVATE DEBT PUBLIC DEBT PUBLIC DEBT MANAGEMENT REAL ESTATE INVESTMENT REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY STRUCTURE RESERVE RESERVE REQUIREMENTS RETAIL INVESTOR RETURNS RISK MANAGEMENT SAVINGS RATE SAVINGS RATES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY MARKETS SECURITIES SECURITIES MARKET SECURITIES MARKETS SMALL INVESTOR SOVEREIGN BENCHMARK SOVEREIGN DEBT SOVEREIGN DEBT MARKET SOVEREIGN RATING SOVEREIGN YIELD STOCK EXCHANGE STOCK MARKET STOCKS SUPERVISORY AUTHORITY TAX TAX FRAMEWORK TAX FRAMEWORKS TAX RATES TAX SYSTEM TRADING TRANSACTION TRANSACTION COSTS TREASURY TREATY VALUE OF ASSETS YIELD CURVE World Bank Turkey - Corporate Bond Market Development : Priorities and Challenges |
| geographic_facet |
Europe and Central Asia Turkey |
| description |
The study is in response to a request by
the Capital Markets Board of Turkey to assist them in
developing the corporate bond market in line with best
practices globally. The objective of this study is to carry
out an assessment of the status of the corporate bond market
in Turkey. The study identifies key impediments and
solutions to sustainable development, and it presents a
roadmap to address the key impediments to the development of
a dynamic and robust corporate bond market. This study
provides a comprehensive review of the Turkish corporate
bond market: chapter two provides an overview of the Turkish
economy and financial sector; chapter three discusses key
impediments to the vibrant development of the corporate
bond; chapter four looks at the Turkish bond market within
global bond markets and gives a review of the Turkish
government bond market; chapter five discusses issues
relating to the investor base, factors constraining the
growth of a broad and diversified investor base are
highlighted; chapter six provides an overview of derivatives
market in Turkey and discusses its important role in
enhancing liquidity in the secondary markets for government
and corporate bonds. The study concludes with a recommended
roadmap to develop the corporate bond market in chapter
seven. The annexes cover the latest corporate bond offerings
in Turkey and examine the expected transaction costs. Survey
details of the survey are also in the annex, and details on
selected emerging market corporate bond markets and market
issues relating to the legal, regulatory and tax frameworks
for the bond market. |
| format |
Economic & Sector Work :: Other Financial Sector Study |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Turkey - Corporate Bond Market Development : Priorities and Challenges |
| title_short |
Turkey - Corporate Bond Market Development : Priorities and Challenges |
| title_full |
Turkey - Corporate Bond Market Development : Priorities and Challenges |
| title_fullStr |
Turkey - Corporate Bond Market Development : Priorities and Challenges |
| title_full_unstemmed |
Turkey - Corporate Bond Market Development : Priorities and Challenges |
| title_sort |
turkey - corporate bond market development : priorities and challenges |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2012/02/16264383/turkey-corporate-bond-market-development-priorities-challenges http://hdl.handle.net/10986/12439 |
| _version_ |
1764419824840081408 |
| spelling |
okr-10986-124392021-04-23T14:03:01Z Turkey - Corporate Bond Market Development : Priorities and Challenges World Bank ACCOUNT RECEIVABLES ACCOUNTING ALTERNATIVE FUNDING ASSET MANAGEMENT BALANCE SHEET BANK CREDIT BANK FINANCING BANK LENDING BANK LOANS BANK REGULATIONS BANKING ASSETS BANKING CRISIS BANKING REGULATION BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BENCHMARK BONDS BENCHMARK YIELD BENCHMARK YIELD CURVE BLUE CHIP BOND HOLDERS BROKER BROKERAGE BROKERAGE FIRMS CAPITAL ADEQUACY CAPITAL GAINS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK COLLATERAL COLLECTIVE INVESTMENT COMMERCIAL BANKING CONSUMER CREDIT CORPORATE BOND CORPORATE BOND MARKET CORPORATE BOND MARKET DEVELOPMENT CORPORATE BOND MARKETS CORPORATE BONDS CORPORATE DEBT CORPORATE MARKET CREDIT RATING CREDITORS CURRENCY RISK CURRENCY RISKS CURRENT ACCOUNT DEFICIT CUSTODY DEBENTURES DEBT DEBT INSTRUMENTS DEBT ISSUANCE DEBT STOCK DEPOSITS DERIVATIVE DERIVATIVE MARKETS DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES MARKET DEVELOPMENT BANK DEVELOPMENT OF BOND MARKETS DIVERSIFIED INVESTOR DIVERSIFIED INVESTOR BASE DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BORROWING DOMESTIC BORROWINGS DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC INTEREST RATES DOMESTIC MARKET EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET DEBT EQUITY MARKET EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXTERNAL BORROWING FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR DEVELOPMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL DEFICIT FIXED ASSETS FIXED INCOME FIXED RATE BONDS FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FUND MANAGERS FUTURES GLOBAL BOND GLOBAL BOND MARKETS GOVERNMENT BOND GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT DEBT SECURITIES GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDING INFLATION INFLATION RATE INITIAL PUBLIC OFFERING INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISKS INTEREST RATES INTERNATIONAL DEBT INTERNATIONAL FINANCE INTERNATIONAL INTEREST INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENT INVESTABLE FUNDS INVESTMENT BANKS INVESTMENT CLIMATE INVESTMENT IN GOVERNMENT SECURITIES INVESTOR BASE INVESTOR BASES INVESTOR CONFIDENCE INVESTOR PROTECTION INVESTORS IN GOVERNMENT SECURITIES IPO LEVEL PLAYING FIELD LIQUID BOND MARKET LIQUIDITY LOAN LOCAL BANK LOCAL CURRENCY LOCAL MARKET LONG-TERM FINANCE MACROECONOMIC CONDITION MACROECONOMIC CONDITIONS MACROECONOMIC INSTABILITY MARK-TO-MARKET MARKET CAPITALIZATION MARKET DEEPENING MARKET INFRASTRUCTURE MARKET INFRASTRUCTURES MARKET INTERMEDIARY MARKET MAKING MARKET PARTICIPANTS MARKET REFORMS MARKET SIZE MARKET-MAKING MATURITIES MATURITY MATURITY MISMATCH MONETARY FUND MUTUAL FUND MUTUAL FUND INDUSTRY MUTUAL FUNDS NATIONAL SAVING OUTSTANDING DEBT PENSION PENSION FUND PENSION FUNDS PENSION SYSTEM PORTFOLIO PORTFOLIO MANAGEMENT PRIMARY DEALERS PRIMARY MARKET PRIVATE DEBT PUBLIC DEBT PUBLIC DEBT MANAGEMENT REAL ESTATE INVESTMENT REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY STRUCTURE RESERVE RESERVE REQUIREMENTS RETAIL INVESTOR RETURNS RISK MANAGEMENT SAVINGS RATE SAVINGS RATES SECONDARY MARKET SECONDARY MARKET TRADING SECONDARY MARKETS SECURITIES SECURITIES MARKET SECURITIES MARKETS SMALL INVESTOR SOVEREIGN BENCHMARK SOVEREIGN DEBT SOVEREIGN DEBT MARKET SOVEREIGN RATING SOVEREIGN YIELD STOCK EXCHANGE STOCK MARKET STOCKS SUPERVISORY AUTHORITY TAX TAX FRAMEWORK TAX FRAMEWORKS TAX RATES TAX SYSTEM TRADING TRANSACTION TRANSACTION COSTS TREASURY TREATY VALUE OF ASSETS YIELD CURVE The study is in response to a request by the Capital Markets Board of Turkey to assist them in developing the corporate bond market in line with best practices globally. The objective of this study is to carry out an assessment of the status of the corporate bond market in Turkey. The study identifies key impediments and solutions to sustainable development, and it presents a roadmap to address the key impediments to the development of a dynamic and robust corporate bond market. This study provides a comprehensive review of the Turkish corporate bond market: chapter two provides an overview of the Turkish economy and financial sector; chapter three discusses key impediments to the vibrant development of the corporate bond; chapter four looks at the Turkish bond market within global bond markets and gives a review of the Turkish government bond market; chapter five discusses issues relating to the investor base, factors constraining the growth of a broad and diversified investor base are highlighted; chapter six provides an overview of derivatives market in Turkey and discusses its important role in enhancing liquidity in the secondary markets for government and corporate bonds. The study concludes with a recommended roadmap to develop the corporate bond market in chapter seven. The annexes cover the latest corporate bond offerings in Turkey and examine the expected transaction costs. Survey details of the survey are also in the annex, and details on selected emerging market corporate bond markets and market issues relating to the legal, regulatory and tax frameworks for the bond market. 2013-02-20T21:51:11Z 2013-02-20T21:51:11Z 2012-02 http://documents.worldbank.org/curated/en/2012/02/16264383/turkey-corporate-bond-market-development-priorities-challenges http://hdl.handle.net/10986/12439 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Europe and Central Asia Turkey |