Volz, Ulrich
Author
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Greater climate vulnerability appears to have a sizable positive effect on sovereign bond yields, while greater resilience to climate change has an offsetting effect.
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Vulnerability to the direct effects of climate change matter more than climate risk resilience in the implications for sovereign borrowing costs.
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While the ultimate resolution of COVID-19 may lead to a market correction as uncertainty declines, there may be some permanent effects on financial markets and capital flows.
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There are multiple ways by which central banks and monetary authorities can actively address climate-related financial risks and support the scaling up of sustainable finance.
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Current account surplus shocks emanating from the People's Republic of China, Japan, and Germany have strong positive effects on regional growth.
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Progressive integration of clearly defined environmental, social, and governance factors through regulatory measures offers economic benefits.
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Central banks are in a powerful position to support the development of green finance models and enforce adequate pricing of environmental and carbon risk by financial institutions.
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The People's Republic of China’s financial system has become more complex and interconnected but foreign participation remains low.
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Aligning the financial sector with sustainable development is key to achieving green transformation in Asia.
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Developed countries’ long-term interest rates have influenced long-term government bond yields in emerging Asia.
Pages
Editor
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Governments must climate-proof their economies and public finances or potentially face an ever-worsening spiral of climate vulnerability and unsustainable debt burdens.
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This handbook brings together leading scholars, policy makers, and practitioners to provide a comprehensive and cutting-edge guide to Asia’s financial institutions, markets, and systems.