Identification of the Success Factors of the Green Bond Market for Sustainable Development in the COVID-19 Era

Rasoulinezhad, Ehsan

doi:10.46557/001c.29979

Cited by 6 publications

(2 citation statements)

References 21 publications

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“…In other study, Loffler et al (2021) analyzed about 182,000 bonds from 650 international issuers and confirmed that economic stability and government's policies are two important elements to have a successful GB market. Rasoulinezhad (2022) identified the chief elements to expand the GB efficient market to make positive influence on economic activities. The major findings revealed that through a transparent regulations and marketbased mechanism, the GB market can provide suitable conditions to promote economic performances and productivity.…”

Section: Literature Reviewmentioning

confidence: 99%

Economic effects of green bond market development in Asian economies

Quang

2022

JRF

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PurposeIn the recent decades, the green projects have suffered from serious lack of investment, highlighting the major role of green financing to attract private investors to these projects. The main purpose of this paper is to explore the economic impacts of green bond (GB) market in 37 Asian economies.Design/methodology/approachTo empirically analyze the impacts of issued GBs on different macroeconomic variables of 37 Asian countries, the co-integration and causality approaches are employed to analyze the data for the period of 2002–2018.FindingsThe primary findings indicated the presence of a unidirectional causal direction running from inflation rate, inward FDI, governance indicator, and human development index to issued GBs for the sample of Asian economies that were analyzed. Regarding Group I (higher and upper-middle income Asian countries), there are bi-directional relationships between the GB and other variables, indicating that the policies of governments in each variable influence other variables, whereas for Group II (low and lower-middle income Asian countries), there are uni-directional relationships running from HDI, governance indicator, and inflation rate to GBs, but only bi-directional causal relationships.Practical implicationsIn Asian economies with a lower per capita income, implementing policies to enhance the efficiency of issued GBs so that they have a positive impact on economic activities and human development may be an appropriate strategy with major policy implications. In this way, financial system improvement, financing rural electrification and the transition to electric vehicles through GBs are recommended, while for the case of high- and upper-middle-income economies in Asia, simplifying capital flows from abroad to the GB market can be considered a practical policy.Originality/valueThis study contributes to current green finance research by studying the effects of several variables on the GB market for the instance of Asian countries with low and lower-middle incomes, as well as high-upper middle incomes.

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Section: Literature Reviewmentioning

confidence: 99%

Economic effects of green bond market development in Asian economies

Quang

2022

JRF

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“…One of the reasons for this is the use of inappropriate policies and tools in improving energy efficiency and developing projects related to this index. Many researchers like Tu et al ( 2020 ) and Rasoulinezhad ( 2022 ) have indicated that to develop energy efficiency projects countries should move toward developing the market of green financing instruments such as green bonds. Another group of previous studies (e.g., Yoshino et al 2021 ; Chien et al 2021 ) insists that proper use of green financial policies, such as establishing a green (carbon) tax, can open the way to improve the energy efficiency index in the countries of the world.…”

Section: Introductionmentioning

confidence: 99%

Assessment of environmental tax and green bonds impacts on energy efficiency in the European Union

Zhou

Sun

et al. 2022

Econ Change Restruct

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Owing to the increased greenhouse gas emissions and threat of environmental pollution, scholars have drawn attention to the issue of energy efficiency in recent decades. One of the main practical policies related to energy efficiency is deploying green tax and green financing tools. The main purpose of this paper is to analyze the impacts of issued green bonds and environmental taxes on energy efficiency in the 27 European Union (EU) member states from 2010 to 2021. The major results confirm that green bonds accelerate the process of improvement of the level of energy efficiency in EU members. In the EU, environmental taxation is an efficient fiscal policy to encourage enterprises to conduct different policies and projects to improve their energy efficiency levels. In addition, a 1% increase in the gross domestic product leads to an increase in energy efficiency of the EU by nearly 0.39%. The recommended practical policies are promoting the green bond market through more transparency and marketing among private investors, paying attention to the concept of green economic recovery, and issuing digital green bonds (DGBs).

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