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This paper discusses the need for corporate debt market in the financial structure of a country with a view to find a rationale through the use of cost-benefits analysis framework. An analysis of the corporate debt market of Pakistan has been included to develop models, identify problem areas / factors inhibiting its growth and recommend measures for facilitating solid, sound and strong market in the country. It also includes a financial market maturity model that can be applied to the developing and emerging economies of the world.

Abdul Majid Yousfani, Syed Asad Hussain. (2004) Development of TFC Market in Pakistan: Challenges and Prospects, Journal of Independent Studies and Research-Management, Social Sciences and Economics, Volume-02, Issue-2.
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