...out valueless, ex post. Given the weak primary market and virtually nonexistent secondary market, the corporate bond market in Vietnam reflects our perception of the relationshipbased and rent-seeking behavior in the financial markets. For the corporate bonds to really work, they critically need a higher level of liquidity to become truly tradable financial assets. JEL Classifications: G32, G38, O16 Keywords: Vietnam; Corporate Bond; Interest Rate; Transition Economy; Debt Market CEB Working Paper N° 10/001 January 2010 Université Libre de Bruxelles - Solvay Brussels School of Economics and Management Centre Emile Bernheim ULB CP145/01 50, avenue F.D. Roosevelt 1050 Brussels BELGIUM e-mail: ceb@admin.ulb.ac.be Tel. : +32 (0)2/650.48.64 Fax : +32 (0)2/650.41.88 Corporate Bond Market in the Transition Economy of...
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