| Abstract [eng] |
The Prospects and the Market Development of Green Bonds The main purpose of this paper is to analyze the prospects and the market development of green bonds. The work consists of three main parts: the analysis of scientific literature, the research methodology, research results, conclusion, and recommendations. The main issues analysed in the theoretical part are the characteristics of the green bond market, the essence, and the concept of green bond market. Determination of the factors related to the development of green bonds was considered to examine the impact on the prospects of green bond market in Europe and Lithuania. After the literature analysis research design was set up, research methods and indicators were selected. The main purpose of empirical research was to determine the impact of green bond market on the selected countries macroeconomic indicators such as GDP, GDP per capita, inflation rate, market openness, government debt to GDP for the period 2016–2019. For the empirical study, a dynamic statistical analysis method, graphical method, correlation analysis, multiple linear regression analysis and expert assessment have been applied. The correlation analysis showed that there is a statistically significant relationship between the green bond market capitalisation and GDP, GDP per capita, government debt to GDP. Moreover, the expert assessment analysis revealed that the The general economic situation of the countries and the results obtained show that the high standard of living, financial market development, market openness, sustainable policy implementation policy and the number of environmentally friendly initiatives in the country have a significant impact on the development of the green bond market. The conclusions and recommendations summarize the main concepts of literary analysis as well as results of the situation analysis and empirical research. |
