Corporate Bond Markets in Argentina
Corporate Bond Markets in Argentina
This chapter analyzes the development of the Argentine corporate bond markets. Econometric and survey results show that only large firms use bond finance. The study also suggests that seeking a ratio of bond market to gross domestic product similar to that of high-income countries is an inappropriate objective. These ratios are misleading as a measure of bond market development, and providing incentives to reach ratios similar to those of the high-income countries would lead to inefficiencies if bond markets were the ideal financing vehicle only for large corporations.
Keywords: Argentine bond markets, corporate debt, gross domestic product, financing, large corporations
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