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Sovereign ESG Bond Issuance: A Guidance Note for Sovereign Debt Managers

Lindner, Peter - 2023

to provide issuers and other stakeholders with a comprehensive view of the ESG bond marketplace …

Persistent link: https://www.econbiz.de/10015059620

Green Bond Pricing and Greenwashing under Asymmetric Information

Schmittmann, Jochen M. - 2022

We analyze the corporate green bond market under a rational framework without an innate green preference, using a …, false or exaggerated claims of being green. The extent of greenwashing in the market is a function of the green bond premium …. A swift and gradual implementation of carbon pricing generates a small green bond premium and a low level of …

Persistent link: https://www.econbiz.de/10015059920

Sovereign Green Bonds: A Catalyst for Sustainable Debt Market Development?

Cheng, Gong - 2024

In traditional bond markets, sovereign bonds provide benchmarks and serve as catalysts for the corporate bond market … development. Contrary to the usual sequence of bond market development, sovereign issuers are latecomers to sustainable bond … markets. Yet, our empirical study finds that sovereign green bond issuance can have quantitative and qualitative benefits for …

Persistent link: https://www.econbiz.de/10015080326

Fiscal Determinants of Domestic Sovereign Bond Yields in Emerging Market and Developing Economies

Nose, Manabu - 2025

Economies (EMDEs). This paper investigates the role of fiscal policies in determining domestic bond yields, and how this … deficits results in a persistent increase in 10-year domestic bond yield by around 36 basis points over 2.5 years, with larger … effects observed during the COVID-19 pandemic. This contrasts with external bond spreads which are more sensitive to external …

Persistent link: https://www.econbiz.de/10015411343

Credit Booms and Lending Standards : Evidence From the Subprime Mortgage Market

Dell'Ariccia, Giovanni - 2008

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...

Persistent link: https://www.econbiz.de/10014409025

A U.S. Financial Conditions Index : Putting Credit Where Credit is Due

Swiston, Andrew - 2008

the existence of a credit channel of monetary policy. Shocks to corporate bond yields, equity prices, and real exchange …

Persistent link: https://www.econbiz.de/10014409040

A Theory of International Crisis Lending and IMF Conditionality

Zettelmeyer, Jeromin - 2008

We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the...

Persistent link: https://www.econbiz.de/10012677672

The Systemic Regulation of Credit Rating Agencies and Rated Markets

Sy, Amadou N. R. - 2009

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is...

Persistent link: https://www.econbiz.de/10012677795

Who Benefits from Capital Account Liberalization? Evidence from Firm-Level Credit Ratings Data

Prati, Alessandro - 2009

We provide new firm-level evidence on the effects of capital account liberalization. Based on corporate foreign-currency credit ratings data and a novel capital account restrictions index, we find that capital controls can substantially limit access to, and raise the cost of, foreign currency...

Persistent link: https://www.econbiz.de/10012677885

Quantitative Easing and Credit Rating Agencies

Abidi, Nordine - 2022

probability for a bond of becoming eligible for outright purchases. We show that after the launch of the policy, rating activity …

Persistent link: https://www.econbiz.de/10015060375