Green Bonds as an Instrument for Financing Ecological Investments in the V4 Countries

Monika Hadaś-Dyduch, Blandyna Puszer, Maria Czech () and Janusz Cichy
Additional contact information
Monika Hadaś-Dyduch: Department of Statistical and Mathematical Methods in Economics, University of Economics in Katowice, 40-287 Katowice, Poland
Blandyna Puszer: Department of Banking and Financial Markets, University of Economics in Katowice, 40-287 Katowice, Poland
Maria Czech: Department of Banking and Financial Markets, University of Economics in Katowice, 40-287 Katowice, Poland
Janusz Cichy: Department of Banking and Financial Markets, University of Economics in Katowice, 40-287 Katowice, Poland

Sustainability, 2022, vol. 14, issue 19, 1-48

Abstract: The aim of this paper is to characterise the green bond market in the Visegrad Group of countries (V4) and to identify the determinants and benefits of issuing green bonds. The specific objective is a spatial–temporal analysis of the green bond yield in V4 countries. The following research methods were used in the paper: a source literature analysis and report analysis, statistical data analysis (from international financial markets), and the Dynamic Time Warping method (DTW). DTW comprises a class of algorithms that are used to compare both equal and unequal time series. The DTW method allows the smallest distance between two time series of different lengths to be found while allowing for the transformation over time of both series. As the method is highly efficient, it is used to provide a thorough spatial–temporal analysis of green bonds. The research process confirmed that green bonds are an instrument with potential in the global debt market. Among the most important stimulants for the issuance of green government bonds are capital mobilisation, the development of the green financial market, investor demand, and reputational benefits.

Keywords: green bond; green finance; Visegrad group (V4) countries (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/14/19/12188/pdf (application/pdf)
https://www.mdpi.com/2071-1050/14/19/12188/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:14:y:2022:i:19:p:12188-:d:925595

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().