Exploring the determinants of green bond market development in Bangladesh

Md. Bokhtiar Hasan (), Md. Mamunur Rashid (), Tapan Sarker () and Muhammad Shafiullah
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Md. Bokhtiar Hasan: Islamic University
Md. Mamunur Rashid: Islamic University
Tapan Sarker: University of Southern Queensland

Eurasian Economic Review, 2024, vol. 14, issue 1, No 9, 213-233

Abstract: Abstract Our study is a pioneering endeavor to comprehensively explore the pivotal factors influencing the growth trajectory of the green bond (GB) market in Bangladesh, aligning with the nation’s Sustainable Development Goals (SDGs) in the aftermath of the COVID-19 pandemic. Leveraging the opinions of fifteen local experts, we employ the Analytic Hierarchy Process (AHP) methodology to discern and prioritize the key determinants. Our findings indicate that infrastructure and financial factors emerge as crucial determinants significantly shaping the developmental landscape of the GB market in Bangladesh. Moreover, within the spectrum of twenty-eight sub-factors examined, legal frameworks, the monetary policy of the Central Bank of Bangladesh, institutional infrastructures, and fiscal policies are identified as direct influencers impacting the expansion of the GB market. Consequently, we advocate for a strategic policy focus on infrastructure and financial facets to foster the growth of Bangladesh’s GB markets, particularly in the post-COVID-19 era.

Keywords: Green bond; Sustainable development goals; Analytic hierarchy process; Post-COVID-19; Bangladesh (search for similar items in EconPapers)
JEL-codes: G01 G18 N10 O10 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s40822-023-00253-9

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