Mendeley出力
＜学術雑誌論文＞
New Financing for Sustainable Development The Case for NNP- or Inclusive Wealth-Linked Bonds
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| 概要 | We propose that national governments could issue bonds whose interest payments are linked to green net national product (gNNP) or, almost equivalently, to inclusive wealth. The main intention of this ...new financial instrument is to entice investors and the national government to invest in human and natural capital for which the corresponding financial assets currently do not exist. As the concept of wealth expands to include human and natural capital, so should the corresponding assets side in the balance sheet of nations. While the argument for gross national product (GNP)–linked bonds focuses on trimming public debt toward fiscal sustainability, the proposed bonds aim to ensure long-term sustainability. The theoretical link associated with welfare economics is also more plausible. Moreover, it could lead to the virtuous cycle of increased government expenditure directed toward inclusive wealth, expanding tax revenue, increased coupon payment to investors, and increased social well-being.続きを見る |
| 目次 | Introduction Literature Review Bond Design Strengths and Weaknesses Example Conclusion |
本文ファイル
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NNPbonds_JED_submit_rev2_shortclean
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782 KB | 461 |
詳細
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| 登録日 | 2017.02.22 |
| 更新日 | 2021.12.13 |