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Exploring the determinants of green bond market development in Bangladesh

Author

Listed:
  • Md. Bokhtiar Hasan

    (Islamic University)

  • Md. Mamunur Rashid

    (Islamic University)

  • Tapan Sarker

    (University of Southern Queensland)

  • Muhammad Shafiullah

    (Brac University)

Abstract

Our study is a pioneering endeavor to comprehensively explore the pivotal factors influencing the growth trajectory of the green bond (GB) market in Bangladesh, aligning with the nation’s Sustainable Development Goals (SDGs) in the aftermath of the COVID-19 pandemic. Leveraging the opinions of fifteen local experts, we employ the Analytic Hierarchy Process (AHP) methodology to discern and prioritize the key determinants. Our findings indicate that infrastructure and financial factors emerge as crucial determinants significantly shaping the developmental landscape of the GB market in Bangladesh. Moreover, within the spectrum of twenty-eight sub-factors examined, legal frameworks, the monetary policy of the Central Bank of Bangladesh, institutional infrastructures, and fiscal policies are identified as direct influencers impacting the expansion of the GB market. Consequently, we advocate for a strategic policy focus on infrastructure and financial facets to foster the growth of Bangladesh’s GB markets, particularly in the post-COVID-19 era.

Suggested Citation

  • Md. Bokhtiar Hasan & Md. Mamunur Rashid & Tapan Sarker & Muhammad Shafiullah, 2024. "Exploring the determinants of green bond market development in Bangladesh," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 14(1), pages 213-233, March.
    • Handle: RePEc:spr:eurase:v:14:y:2024:i:1:d:10.1007_s40822-023-00253-9
    DOI: 10.1007/s40822-023-00253-9
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    Keywords

    Green bond; Sustainable development goals; Analytic hierarchy process; Post-COVID-19; Bangladesh;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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