Arbeitspapier
Is the government always greener?
This research focuses on the cost of financing green projects on the primary bond market and tests for a potential price differential between green bonds issued by government entities and those issued by supranational and private sector issuers. Our findings indicate that government entities benefit from more favorable pricing conditions worldwide. This advantage is growing over time and particularly pronounced for sovereigns and municipal authorities. Our analysis also reveals that country-specific factors, such as strong political commitment to address climate change, low income level and high degree of indebtedness are significant predictors of the pricing spread across bonds.
- Sprache
-
Englisch
- Erschienen in
-
Series: CFS Working Paper Series ; No. 718
- Klassifikation
-
Wirtschaft
International Financial Markets
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
National Debt; Debt Management; Sovereign Debt
Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
- Thema
-
Green bonds
Sovereign debt
Yield spread
Greenium
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Di Tommaso, Caterina
Perdichizzi, Salvatore
Vigne, Samuel
Zaghini, Andrea
- Ereignis
-
Veröffentlichung
- (wer)
-
Goethe University Frankfurt, Center for Financial Studies (CFS)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2024
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Di Tommaso, Caterina
- Perdichizzi, Salvatore
- Vigne, Samuel
- Zaghini, Andrea
- Goethe University Frankfurt, Center for Financial Studies (CFS)
Entstanden
- 2024
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