Thematic analysis on the study of Interest Rate Swap markets

The study tries to show the status of research on interest rate swaps (IRS) market particularly related to interest rate swaps market in India and the world. The result of extensive literature search using various search engines helped us to find around 98 papers related to interest rates swaps out of which two papers were only related to India. Abstract analysis of those papers that are published in various journals helped us to identify and group into nine major themes out of which twelve papers have discussed more than one theme. Year wise publication on interest rate swaps market showed both increasing and decreasing trend except in the year 2004 and 2013 which witness highest number of papers published. Interlinkage, impact of and on interest rates swaps, accounting treatments etc. were the least discussed themes. Overall, the finding of the study revealed that extensive study on interest rates swaps market in Indian context need to be undertaken as India is an emerging IRS market. The results, findings, and theory of those study conducted and developed in advanced and developed economy may not hold good in India.