Intern SARD/SAPF - 1317 (South Asia Department) - ADB - Manila, Philippines

Closing Date: 13 February 2013 , 5:00 p.m. (1700 Manila Time, 0900 GMT)

Job Purpose:

Internship Topic
Developing the Local Currency Bond Market – The Case of India


Summary of Job Description
The candidate will review the experience of the two Asian emerging markets with well established local currency bond markets, namely Korea and Malaysia and focus on what are the critical steps required in India to develop this market. While there are important pre-conditions already in place in India including macro stability, and increasingly deep and liquid government securities markets, the corporate debt market has as yet not taken off. The candidate will focus on identifying the missing elements from an applied policy perspective and some of the next steps that can lead to the development of this market. More importantly, it will review how ADB can develop strategic and catalytic transactions that can serve to spur and develop the bond market building on the Partial Credit Guarantee for Credit Enhancement of Project Bonds.

Expected Outcomes

In addition to a research paper (to be published in the SARD Working Paper Series) and a Bank-wide presentation (could be in form of a brown bag seminar) the recommendations should assist in framing a follow-on transaction that can develop project bonds as a new asset class in India.
This work will be closely coordinated with INRM and will build on preliminary discussions between INRM and Finance Minister’s Chief Economic Advisor who outlined his strong support and keen interest in pursuing this research agenda.

Educational Requirements:

Candidates must:

• be enrolled in a PhD program with strong background in financial economics with adequate research experience, at a school in one of the ADB member countries, both prior to and after the internship assignment; and
• be engaged in academic study in a field directly related to ADB's work.

Relevant Experience And Other Requirements:

• Familiarity with empirical works in the areas of finance and economics with a close focus on capital market development.
• The candidate should have adequate training in applying latest econometric tools.

Core Competencies:

Candidates must be able to:

• exhibit professionalism in the conduct of his/her project tasks.
• analyze data and recommend solutions.
• be self-directed.
• build professional relationships to achieve results.
• prioritize work to achieve assignment outcomes.
• experience in statistical packages.

Immediate Reporting Relationships / Other Information:

Other Information

• Position reports to assigned Professional Staff Supervisor.
• Candidates must be a national of one of ADB’s member countries.
• Past interns are ineligible to apply in subsequent years.
• Close relatives of ADB personnel are ineligible to apply but ADB spouses may apply if the eligibility requirements are met.
• Internship duration is 14 weeks.
• Assignment is from April to July 2013.

[ADDITIONAL REQUIREMENTS]
1. Submit your CV by uploading in “Documents” section in the application; and
2. Answer essay questions below in Ms WORD or PDF document, maximum of 1500 words per question. Upload in "Documents" portion in
the application.
ESSAY QUESTIONS
(1) Describe one example of your experience that demonstrated your interest in working in ADB.
(2) Highlight your qualifications that will help accomplish this internship assignment (e.g., course work, research, work experience,
etc.).
Non-submission of CV and essays will deem application INCOMPLETE and WILL NOT BE PROCESSED FURTHER.

Important Instructions

Queries can be directed at adbintern.org

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