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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

Bond Markets As Conduits for Capital Flows; How Does Asia Compare?

Luengnaruemitchai, Pipat; Eichengreen, Barry J. - International Monetary Fund (IMF) - 2006

diversification by mutual funds, in turn reflecting a dearth of appropriate assets. Asian Bond Fund 2, by creating a passively managed … portfolio of local currency bonds potentially attractive to mutual fund managers and investors, may help to relax this …

Persistent link: https://www.econbiz.de/10005769016

Asset Securitization and Structured Financing; Future Prospects and Challenges for Countries in Emerging Markets

Alles, Lakshman - International Monetary Fund (IMF) - 2001

This article examines the issues and challenges involved for institutions, policy makers, and law-makers in less developed countries in their efforts to implement asset securitization techniques in their financial markets. Challenges and issues in the areas of market development, legislation,...

Persistent link: https://www.econbiz.de/10005769057

Sovereign Borrowing Cost and the IMF's Data Standards Initiatives

Cady, John; Pellechio, Anthony J. - International Monetary Fund (IMF) - 2006

The effects of the IMF's data standards initiatives on sovereign borrowing costs in private capital markets are investigated for 26 emerging market and developing countries. Stable and significant panel econometric estimates indicate that subscription to the Special Data Dissemination Standard...

Persistent link: https://www.econbiz.de/10005769280

The Contingent Claims Approach to Corporate Vulnerability Analysis; Estimating Default Risk and Economy-Wide Risk Transfer

Xiao, Yingbin; Gray, Dale F.; Lim, Cheng Hoon; Gapen, … - International Monetary Fund (IMF) - 2004

In this paper, we examine the ability of the contingent claims approach (CCA) to identify corporate sector and economy-wide vulnerabilities. We apply the Moody's MfRisk model, which uses aggregated CCA principles, to assess vulnerabilities retroactively in two historical country cases. The...

Persistent link: https://www.econbiz.de/10005599251

Emerging Market Spreads; Then Versus Now

Yafeh, Yishay; Mauro, Paolo; Sussman, Nathan - International Monetary Fund (IMF) - 2000

This paper analyzes yield spreads on sovereign debt issued by emerging markets using modern data from the 1990s and newly-collected historical data on debt traded in London during 1870–1913, a previous “golden era” for international capital market integration. Applying several empirical...

Persistent link: https://www.econbiz.de/10005599377

Catalyzing Capital Flows; Do IMF-Supported Programs Work As Commitment Devices?

Saravia, Diego; Mody, Ashoka - International Monetary Fund (IMF) - 2003

international bond markets and whether they improve spreads paid on the bonds issued. We find that IMF-supported programs do not …

Persistent link: https://www.econbiz.de/10005599390