The Eligibility of Green Bonds as Safe Haven Assets: A Systematic Review
نویسندگان
چکیده
This study follows Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) to examine the existing literature on connectedness of green bonds with other markets as an attempt highlight effectiveness in risk management benefits associated incorporating investment portfolios. An extensive search relevant research papers scope review led identification 31 articles published by February 2022. Our analysis traces evolution studies bonds’ interactions markets, methodologies data frequencies used cross-market relations analysis, role portfolio (diversifier, hedge, safe-haven) normal extreme market conditions. The reports several interesting findings. First, can be a strategic safe-haven avenue investors stocks, dirty energy foreign exchange US China downturns. Second, demonstrated hedging properties against spillovers from Bitcoin, forex, soft commodities, CO2 emission allowance. Third, natural gas, industrial metals, crude oil is limited diversifier different horizons. Fourth, had no diversification or hedge conventional bonds. Fifth, interrelationships between most markets’ understudy were influenced macroeconomic global factors such COVID-19 pandemic, economic policy uncertainty, OVX, VIX. also facilitated future topics. outcome offers insightful information assets allocation. Policy makers benefit this effective legislation advancement acceleration smooth transition net zero economy.
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ژورنال
عنوان ژورنال: Sustainability
سال: 2023
ISSN: ['2071-1050']
DOI: https://doi.org/10.3390/su15086841