Impact of Country-Level Factors on Green Bonds Issuance: Comparison Between BRICS and G7 Countries

Mani Pouyan, Karlygash Zhangaliyeva and Alimshan Faizulayev ()
Additional contact information
Mani Pouyan: Bang College of Business
Karlygash Zhangaliyeva: Bang College of Business
Alimshan Faizulayev: Bang College of Business

A chapter in Sustainable Development in Banking and Finance, 2024, pp 181-198 from Springer

Abstract: Abstract Sustainable finance products that consider ESG standards have been used in recent years, especially for dealing with the adverse effects of climate change. Investors’ demand and awareness of green finance have made Green bonds (GB) highly used as a debt instrument to finance projects with positive environmental impacts. Although the issuance of green bonds has increased globally, the expansion of the green bond market varies among different countries. Therefore, identifying the factors affecting GB issuance in different countries and comparing them can help better understand this gap. In this research, the impact of several country-level variables on the issuance of green bonds is studied for the G7 and BRICS countries. For this purpose, data related to macroeconomic, social, and environmental variables from 2014 to 2022 were Gathered and analyzed by regression models for panel data, including pooled OLS, fixed effect, and random effect. The results can show significant relationships between green bond issuance and some of the independent variables such as population, ESG risk index, credit rating, inflation rate, and fiscal balance.

Keywords: Sustainable Finance; Green Bonds; G7; BRICS (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:prbchp:978-3-031-65533-3_11

Ordering information: This item can be ordered from
http://www.springer.com/9783031655333

DOI: 10.1007/978-3-031-65533-3_11

Access Statistics for this chapter

More chapters in Springer Proceedings in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().