India's Bond Market - Developments and Challenges Ahead

While India boasts a world-class equity market and increasingly important bank assets, its bond market has not kept up. The government bond market remains illiquid. The corporate bond market, in addition, remains restrictive to participants and largely arbitrage-driven. Securitization, which once had the jump on other Asian markets, has failed to take off. To meet the needs of its firms and investors, the bond market must therefore evolve. This will mean creating new market sectors such as exchange-traded interest rate and foreign exchange derivatives contracts. It will mean relaxing exchange restrictions, easing investment mandates on contractual savings institutions, reforming the stamp duty tax, and revamping disclosure requirements for corporate public offers. This paper reviews the development and outlook of the Indian bond market. It looks at the market participants-including life insurance, pension funds, mutual funds and foreign investors-and it discusses the importance to development of learning from the innovations and experiences of others

aquatic habitat analysis of an opportunistic human pathogen in a small peri-urban river

International audienc

Expertise hydro-géomorphologique en vue du diagnostic fonctionnel des habitas, de la restauration du transit sédimentaire et des lônes, volet 1, 2, 3 et 4

2004-2005, 170 p

Expertise hydro-géomorphologique en vue du diagnostic fonctionnel des habitas, de la restauration du transit sédimentaire et des lônes, volet 1, 2, 3 et 4

2004-2005, 170 p

Gravel reintroduction for restoring bedload dynamics of sediment-starved reaches: insights from two French rivers

International audienc

Modèles d'incertitudes associés aux estimations des caractéristiques physiques des tronçons de cours d'eau à large échelle

[Departement_IRSTEA]Eaux [TR1_IRSTEA]QUASAREInternational audienceSpatially comprehensive estimates of the physical characteristics of river segments over large areas are required in many large-scale analyses of river systems and for the management of multiple basins. Remote sensing and modeling are often used to estimate river characteristics over large areas, but the uncertainties associated with these estimates and their dependence on the physical characteristics of the segments and their catchments are seldom quantified. Using test data with varying degrees of independence, we derived analytical models of the uncertainty associated with estimates of upstream catchment area (CA), segment slope, and mean annual discharge for all river segments of a digital representation of the hydrographic network of France. Although there were strong relationships between our test data and estimates at the scale of France, there were also large relative local uncertainties, which varied with the physical characteristics of the segments and their catchments. Discharge and CA were relatively uncertain where discharge was low and catchments were small. Discharge uncertainty also increased in catchments with large rainfall events and low minimum temperature. The uncertainty of segment slope was strongly related to segment length. Our uncertainty models were consistent across large regions of France, suggesting some degree of generality. Their analytical formulation should facilitate their use in large-scale ecological studies and simulation models

Gravel reintroduction for restoring bedload dynamics of sediment-starved reaches: insights from two French rivers

International audienc

Uncertainty models for estimates of physical characteristics of river segments over large areas

International audienc