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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
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Financial Spillovers to Emerging Markets during the Global Financial Crisis
Frank, Nathaniel - 2009
emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GARCH model is estimated in …
Persistent link: https://www.econbiz.de/10012677776
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The Capital Markets of Emerging Europe : Institutions, Instruments and Investors
Ong, Li - 2008
Emerging European countries have made large strides in developing their local capital markets since the early-1990s. However, the rate of development has been widely disparate across countries and market segments, underpinned by the varying degrees of progress made in key areas such as...
Persistent link: https://www.econbiz.de/10014409027
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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
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Decomposing Climate Risks in Stock Markets
Yang, Yuanchen - 2023
Climate change poses an unprecedented challenge to the world economy and the global financial system. This paper sets out to understand and quantify the impact of climate mitigation, with a focus on climate-related news, which represents an important information source that investors use to...
Persistent link: https://www.econbiz.de/10015059379
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Stress Testing of Financial Systems; An Overview of Issues, Methodologies, and FSAP Experiences
Peria, Maria Soledad Martinez; Majnoni, Giovanni; … - International Monetary Fund (IMF) - 2001
The paper has three objectives. After a general introduction to some of the concepts and basic techniques of stress testing, the paper gives an overview of some of the conceptual issues involved in evaluating risks at the aggregated level of financial systems. Second, this study provides a basic...
Persistent link: https://www.econbiz.de/10005248173
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Financial Market Risk and U.S. Money Demand
Cook, David; Choi, Woon Gyu - International Monetary Fund (IMF) - 2007
money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond markets. After controlling …
Persistent link: https://www.econbiz.de/10005248246
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Financial Sector Evolution in the Central European Economies; Challenges in Supporting Macroeconomic Stability and Sustainable Growth
Wagner, Nancy L.; Iakova, Dora M. - International Monetary Fund (IMF) - 2001
This paper takes stock of the current state of development of the financial systems in five Central European transition economies (the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia) that are also leading EU accession candidates. It presents both a progress report and an...
Persistent link: https://www.econbiz.de/10005248292
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Pension Reform and Macroeconomic Stability in Latin America
Roldos, Jorge - International Monetary Fund (IMF) - 2007
This paper reviews macroeconomic aspects of pension reforms in Latin America, focusing on financial market stability and fiscal sustainability. Concentration of pension fund portfolios in government bonds remains high, and the lack of new investment alternatives has distorted asset prices....
Persistent link: https://www.econbiz.de/10005248326
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Financial Development and Economic Growth; An Overview
Khan, Mohsin S.; Semlali, A. Senhadji - International Monetary Fund (IMF) - 2000
In recent years there has been substantial theoretical and empirical work on the role that financial markets play in fostering economic growth and development. This paper provides a selective review of the literature, as well as new empirical evidence on the relationship between financial...
Persistent link: https://www.econbiz.de/10005263653