| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16898 |
| DP16898 Do the SDGs affect sovereign bond spreads? First evidence | |
| Eline Ten Bosch; Mathijs Van Dijk; Dirk Schoenmaker | |
| 发表日期 | 2022-01-14 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We study the relation between a country's performance on the United Nations' Sustainable Development Goals (SDGs) and its sovereign bond spread. Using a novel country-level SDG measure for a global sample of countries, we find a significantly negative relation between SDG performance and credit default swap (CDS) spreads, while controlling for traditional macroeconomic factors. This effect is stronger for longer maturities, in line with the notion that the SDGs represent long-term objectives. The results are most consistent with perceived default risk driving this relation, rather than investor preferences. In sum, our initial evidence suggests that investing in the SDGs provides governments with financial benefits besides ecological and social welfare. |
| 主题 | Development Economics ; Financial Economics ; Public Economics |
| 关键词 | Sustainable development goals Sovereign credit default swaps Sovereign credit spreads Default risk Country sdg performance |
| URL | https://cepr.org/publications/dp16898 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545829 |
| 推荐引用方式 GB/T 7714 | Eline Ten Bosch,Mathijs Van Dijk,Dirk Schoenmaker. DP16898 Do the SDGs affect sovereign bond spreads? First evidence. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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