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The samurai bond market

Author

Listed:
  • Frank Packer
  • Elizabeth Reynolds

Abstract

Issuance in the samurai bond market has more than tripled over the past several years. Some observers have attributed this growth to a systematic underestimation of credit risk in the market. A detailed review of credit quality, ratings differences, and initial issue pricing in the samurai bond market, however, turns up little evidence to support this concern.

Suggested Citation

  • Frank Packer & Elizabeth Reynolds, 1997. "The samurai bond market," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 3(Jun).
    • Handle: RePEc:fip:fednci:y:1997:i:jun:n:v.3no.8
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    Citations

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    Cited by:

    1. Marwan Elkhoury, 2007. "Credit Rating Agencies And Their Potential Impact On Developing Countries," UNCTAD Discussion Papers 186, United Nations Conference on Trade and Development.
    2. Jose A. Lopez & Mark M. Spiegel, 2014. "Foreign Entry into Underwriting Services: Evidence from Japan's “Big Bang” Deregulation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(2-3), pages 445-468, March.
    3. Frank Packer, 1999. "Credit risk in Japan's corporate bond market," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 5(Nov).
    4. Behr, Patrick & Güttler, André, 2008. "The informational content of unsolicited ratings," Journal of Banking & Finance, Elsevier, vol. 32(4), pages 587-599, April.

    More about this item

    Keywords

    Bonds; Japan;

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