Many governments have started issuing 'green' bonds tied to expenditures on projects with environmental objectives such as climate change mitigation. While well-intentioned, issuance of a green bond by an investment-grade sovereign has no environmental impact, leaves funding costs unchanged,...

A sovereign green bond presents countries with an opportunity to demonstrate national leadership in the green financing agenda while giving exposure to a new investor base and solidifying a country's commitment to complying with the Paris Climate Change Agreement. While green bonds allow...

Ausgelöst durch das Zusammentreffen niedriger Zinsen in reichen Ländern und einem hohen Finanzierungsbedarf für Infrastruktur in vielen ärmeren Ländern befindet sich die Verschuldung der Länder des Globalen Südens seit Jahren auf einem dramatisch hohen Niveau. Hohe Schuldendienstzahlungen...

In their recent provocative book Why Nations Fail, political scientist Daron Acemoglu and economist James A. Robinson contend that nations fail when they become “extractive” in their exercise of political power. According to the authors, the neoliberal system of market-centred competition...