The report presents the key findings of a comparative assessment of fifty-nine individual credit markets, covering eleven countries in an in-depth market specific analysis. Through these case studies, the report identifies important 'lessons learned', which are of increasing investor interest.
Credit markets are an integral part of the modern global economy. They have played an increasingly important role in helping to sustain global growth since the 2008 financial crisis and as a result, credit markets have experienced rapid growth.
This report aims to deepen the general understanding of the role of credit markets and to develop a staged model of credit market development. The findings show that the scope for growth of credit markets, and thus the associated policy priorities, vary for markets at different stages of development. Emerging credit markets, for example, are in need of systemic macro level programmes of reform whereas for mature credit markets such as the UK, the key to growth is innovation.
This informs the wider debate on how financial services continue to evolve globally. Through the efficient and effective allocation of capital, credit markets are a crucial component in meeting customer needs and maintaining financial stability.
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