The effect of countries’ ESG ratings on their sovereign borrowing costs

Patricia Crifo, Marc-Arthur Diaye and Rim Oueghlissi

The Quarterly Review of Economics and Finance, 2017, vol. 66, issue C, 13-20

Abstract: We examine whether the extra-financial performance of countries on environmental, social and governance (ESG) factors matters for sovereign bonds markets. Using a panel regression model over a data set with 23 OECD countries from 2007 to 2012, we show that ESG ratings significantly decrease government bond spreads.

Keywords: Extra-financial ratings; ESG performance; Government bond spreads (search for similar items in EconPapers)
JEL-codes: F34 G11 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (21)

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Working Paper: The effect of countries’ ESG ratings on their sovereign borrowing costs (2017)
Working Paper: The effect of countries’ ESG ratings on their sovereign borrowing costs (2017)
Working Paper: The effect of countries’ ESG ratings on their sovereign borrowing costs (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:66:y:2017:i:c:p:13-20

DOI: 10.1016/j.qref.2017.04.011

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