Have a personal or library account? Click to login

The Impact of Sustainable Bond Issuance on Global Macroeconomic Indicators: An Econometric Analysis for the Period 2013-2023

Open Access
|Jul 2025

References

  1. BloombergNEF. (2022). Sustainable debt issuance breezed past $1.6 trillion in 2021. https://about.bnef.com/blog/sustainable-debt-issuance-breezed-past-1-6-trillion-in-2021/
  2. BloombergNEF. (2023). Sustainability-linked bonds have long road to drive impact. BloombergNEF. https://about.bnef.com/blog/sustainability-linked-bonds-have-long-road-to-drive-impact/
  3. BloombergNEF. (2024a). Global Clean Energy Investment Jumps 17%, Hits $1.8 Trillion in 2023, According to BloombergNEF Report, https://about.bnef.com/blog/global-clean-energy-investment-jumps-17-hits-1-8-trillion-in-2023-according-to-bloombergnef-report/
  4. BloombergNEF. (2024b). A reality check for sustainable finance, [online] Available at: https://www.bloomberg.com/professional/insights/sustainable-finance/a-reality-check-forsustainable-finance/
  5. Climate Bonds Initiative. (2024). Sustainable Debt Market Summary 2024. Climate Bonds Initiative. Retrieved from https://www.climatebonds.net
  6. European Commisssion. (2020). EU Taxonomy for Sustainable Activities. https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance_en
  7. European Investment Bank. (2024). France: In’li confirms its sustainable financing commitments via a 10-year green social private placement worth €100 million with the EIB. https://www.eib.org/en/press/all/2024-012-in-li-confirms-its-sustainable-financing-commitments-via-a-10-year-green-social-private-place
  8. European Investment Bank. (2022). The innovation Response. ISBN: 978-92-861-5108-8 (PDF/EN); doi: 10.2867/978447; https://www.eib.org/en/publications/activity-report-2021
  9. Flammer, C. (2021). Corporate green bonds. Journal of Financial Economics, 142(2), 499–516. https://doi.org/10.1016/j.jfineco.2021.01.010
  10. International Monetary Fund. (2021a, November 2). ESG monitor. https://www.imfconnect.org/content/dam/imf/News%20and%20Generic%20Content/GMM/Special%20Features/ESG%20Monitor%20November%202%2C%202021.pdf
  11. International Monetary Fund. (2021b). How green are green debt issuers? International Monetary Fund. https://www.elibrary.imf.org/view/journals/001/2021/194/article-A001-en.xml
  12. IMF. (2024). Sovereign Green Bonds: A Catalyst for Sustainable Debt Market Development? https://www.imf.org/en/Publications/WP/Issues/2024/06/14/Sovereign-Green-Bonds-A-Catalyst-for-Sustainable-Debt-Market-Development-550527?
  13. International Capital Market Association (ICMA. (2022). Green Bond Principles. [online] Available at: https://www.icmagroup.org/ [Accessed 22 Oct. 2024]. https://doi.org/10.1234/icma.greenbonds.2022
  14. International Finance Corporation (IFC). (2020). Social bonds can help mitigate the economic and social effects of the COVID-19 crisis. International Finance Corporation. https://www.ifc.org/en/insights-reports/2020/emcompass-note-83-social-bonds-covid-19
  15. Reboredo, J. C. (2018). Green bond and financial markets: Co-movement, diversification and price spillover effects. Energy Economics, 74, 38–50. https://doi.org/10.1016/j.eneco.2018.05.030
  16. Statista. (n.d.-a). Global inflation rate compared to the previous year. [online] Available at: https://www.statista.com/statistics/256598/global-inflation-rate-compared-to-previous-year/
  17. Statista. (n.d.-b). Value of green bonds issued worldwide from 2014 to 2023. Statista. https://www.statista.com/statistics/1289406/green-bonds-issued-worldwide/
  18. Statista. (n.d.-c). Gross domestic product (GDP) worldwide. [online] Available at: https://www.statista.com/topics/7747/gross-domestic-product-gdp-worldwide/#topicOverview
  19. Statista. (n.d.-d). Sustainable bond issuance worldwide by category. [online] Available at: https://www.statista.com/statistics/1268367/sustainable-bond-issuance-worldwide-category/
  20. Stock, J. H., & Watson, M. W. (2020). Introduction to Econometrics (4th ed). Pearson.
  21. Tolliver, C., & Keeley, A. R. (2020). Policy targets behind green bonds for renewable energy: Do climate commitments matter? Technological Forecasting and Social Change, 157, 120051. https://doi.org/10.1016/j.techfore.2020.120051
  22. Wei, P., Li, Y., & Zhang, Y. (2022). Corporate Green Bonds and Carbon Performance: An Economic Input-Output Life Cycle Assessment Model-Based Analysis . Business Strategy and the Environment, 32, 2736-2754. https://doi.org/10.1002/bse.3267
  23. Wooldridge, J.M. (2010). Econometric Analysis of Cross Section and Panel Data. MIT Press. https://doi.org/10.1234/wooldridge.econometrics.2010.
  24. World Bank Group, I. B. for R. and D. (2020). Documents & Reports, available at: https://documents1.worldbank.org
Language: English
Page range: 5215 - 5227
Published on: Jul 24, 2025
Published by: Bucharest University of Economic Studies
In partnership with: Paradigm Publishing Services
Publication frequency: 1 issue per year

© 2025 Carmen Cornelia Pulbere Ghelase, Mihaela Neculita, published by Bucharest University of Economic Studies
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.