This chapter analyzes the development of the Argentine corporate bond markets. Econometric and survey results show that only large firms use bond finance. The study also suggests that seeking a ratio of bond market to gross domestic product similar to that of high-income countries is an inappropriate objective. These ratios are misleading as a measure of bond market development, and providing incentives to reach ratios similar to those of the high-income countries would lead to inefficiencies if bond markets were the ideal financing vehicle only for large corporations.