Vietnam’s corporate bond market, 1990-2010: Some reflections

Abstract

Abstract: Corporate bond appeared in 1992-1994 in Vietnamese capital markets. However, it is still not popular to both business sectors and academic circles. This paper explores different dimensions of Vietnamese corporate bond market using a unique and perhaps, most complete data set. State not only intervenes in the bond markets with its powerful budget and policies but also competes directly with enterprises. The dominance of state- owned enterprises and large corporations also prevents small and medium enterprises ...