DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW

Wissal Gamraoui

DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW

Abstract

Green bonds have emerged as a crucial financial innovation for channeling proceeds toward environmentally responsible projects. Nevertheless, their adoption in emerging economies remains limited and studies regarding the key determinants of their performance in these contexts are relatively scarce. This article suggests a critical review of the literature and highlights four principal categories influencing the performance of green bonds: macroeconomic factors, financial and asset class dynamics, bonds characteristics and social and behavioral preferences. However, several obstacles continue to limit market development, such as the lack of standardized regulations, high cost of issuance, greenwashing risks, etc. The literature indicates that the public-sector intervention is crucial to enhance market confidence and boost the growth of green bonds as an instrument for sustainable development in emerging countries.

Keywords

References

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Details

Primary Language

English

Subjects

Applied Microeconometrics

Journal Section

Research Article

Authors

Wissal Gamraoui ^*
0009-0000-0061-1395
Morocco

Publication Date

May 17, 2026

Submission Date

December 18, 2025

Acceptance Date

January 13, 2026

Published in Issue

Year 2026 Number: Special Issue in Honor of Prof. Dr. Mine Çınar

IZ

https://izlik.org/JA72SZ39XU

Cite

RIS / Bibtex

APA

Gamraoui, W. (2026). DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW. Journal of Research in Economics, Special Issue in Honor of Prof. Dr. Mine Çınar, 29-53. https://izlik.org/JA72SZ39XU

AMA

1.Gamraoui W. DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW. JORE. 2026;(Special Issue in Honor of Prof. Dr. Mine Çınar):29-53. https://izlik.org/JA72SZ39XU

Chicago

Gamraoui, Wissal. 2026. “DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW”. Journal of Research in Economics, no. Special Issue in Honor of Prof. Dr. Mine Çınar: 29-53. https://izlik.org/JA72SZ39XU.

EndNote

Gamraoui W (May 1, 2026) DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW. Journal of Research in Economics Special Issue in Honor of Prof. Dr. Mine Çınar 29–53.

IEEE

[1]W. Gamraoui, “DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW”, JORE, no. Special Issue in Honor of Prof. Dr. Mine Çınar, pp. 29–53, May 2026, [Online]. Available: https://izlik.org/JA72SZ39XU

ISNAD

Gamraoui, Wissal. “DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW”. Journal of Research in Economics. Special Issue in Honor of Prof. Dr. Mine Çınar (May 1, 2026): 29-53. https://izlik.org/JA72SZ39XU.

JAMA

1.Gamraoui W. DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW. JORE. 2026;:29–53.

MLA

Gamraoui, Wissal. “DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW”. Journal of Research in Economics, no. Special Issue in Honor of Prof. Dr. Mine Çınar, May 2026, pp. 29-53, https://izlik.org/JA72SZ39XU.

Vancouver

1.Wissal Gamraoui. DETERMINANTS OF GREEN BONDS PERFORMANCE IN EMERGING MARKETS: A CRITICAL LITTERATURE REVIEW. JORE [Internet]. 2026 May 1;(Special Issue in Honor of Prof. Dr. Mine Çınar):29-53. Available from: https://izlik.org/JA72SZ39XU