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Dynamic impact of the US yield curve on green bonds: Navigating through recent crises
North American Journal of Economics and Finance. 2024. Vol. 74. Article 102223.
We examine the effect of the US yield curve on the global green bond markets at the forefront of the climate change fight. For this purpose, we compute three components (level, slope, and curvature) of the US yield curve based on daily data of the treasury yields with several maturities from January 2009 to June 2022 and employ country-level S&P green bond indices. Our dynamic network analysis shows that the level component of the yield curve is more influential in transmitting return and volatility shocks to green bonds, while curvature is primarily absorptive. The European, the US, and Hong Kong green bonds are the leading players in shock propagation. Both return- and volatility spillovers are time-varying and remain high during periods of systemically important events, especially COVID-19 and the Russia-Ukraine war, supporting the Global Financial Cycle Hypothesis. The war also changes the net behaviors (transmitter versus receiver) of the components and the indices. Investors and issuers of green bonds are advised to keenly observe the shape of the US yield curve and systemic events for better decision-making regarding investment horizons and contagion risk management.
Publication based on the results of:
Lola I. S., Семенова М. Т., Усов Н. А., ИСИЭЗ НИУ ВШЭ, 2026.
Центр конъюнктурных исследований Института статистических исследований и экономики знаний НИУ ВШЭ представляет информационно-аналитический материал «Деловой климат в оптовой торговле во II квартале 2026 г.», подготовленный в рамках Программы фундаментальных исследований НИУ ВШЭ на основе ежеквартальных конъюнктурных опросов руководителей 6,5 тыс. организаций оптовой торговли, проводимых Федеральной службой государственной статистики в 82 субъектах Российской Федерации. Обследования проводятся на ...
Added: July 29, 2026
Lola I. S., Ostapkovich G. V., Asoskov D. et al., ИСИЭЗ НИУ ВШЭ, 2026.
Для расчета индекса экономического настроения (ИЭН ВШЭ) использовались результаты обследований деловой активности российских предприятий и организаций, а также потребительских ожиданий, в мониторинговом режиме проводимых Росстатом. В обследованиях принимают участие 17,5 тыс. руководителей организаций различных секторов экономики (около 6 тыс. крупных и средних предприятий добывающей и обрабатывающей промышленности, 6,2 тыс. строительных фирм, 3,4 тыс. организаций розничной торговли, около ...
Added: July 29, 2026
Lodiagin B., Petrov V., International Journal of Innovative Research and Scientific Studies 2026 Vol. 9 No. 7 P. 127–141
This study compares seven Russian regional airport public-private partnership projects to examine how governance arrangements relate to implementation performance and adaptation under uncertainty. The analysis draws on public documents, project-participant materials, industry reports, and business media available by May 2026. A qualitative multiple-case design combines thematic analysis with cross-case synthesis. The cases range from comparatively ...
Added: July 27, 2026
Pashkov S., Социологический журнал 2026 Т. 32 № 2 С. 32–44
This article discusses the methodological possibilities and specific features of constructing chain indices based on longitudinal sociological data. The relevance of the study stems from the shortage of diverse socio-economic indicators for promptly tracking fluctuations in the expectations and intentions of small business owners under heightened uncertainty. The authors show that the chain index methodology ...
Added: July 27, 2026
Slabolitskiy I. S., Экономический журнал Высшей школы экономики 2026 Т. 30 № 2 С. 215–244
This paper proposes a new approach for modeling and forecasting key indicators of Russia's foreign economic activity based on a block-based architecture of a Bayesian Vector Autoregression model with exogenous variables (BVARX). In conditions of high external uncertainty and the absence of publicly available data on the physical volumes of foreign trade since 2022, the ...
Added: July 24, 2026
Лобоцкий М. Ю., Komarov M. M., Zaramenskikh E., Бизнес-информатика 2026 Т. 20 № 2 С. 7–21
By early 2026, AI agents ceased to be experimental tools and began to be considered as a form of business process automation. Based on the analysis of in-depth interviews, an expert session, a quantitative survey of Russian companies, and sources reflecting Russian and foreign experience in the deployment of AI agents, a fivelevel maturity model ...
Added: July 24, 2026
Zhuravleva T., Afanasev K., Engelmann J. et al., / Series "SSRN Working Paper Series". 2026.
Extortionary ("harassment") bribery can persist even when widely condemned, consistent with a coordination problem sustained by beliefs about what others do and what others consider acceptable. We study whether a minimal institutional featurethe presence of a third-party monitor empowered to punish-shifts (i) normative expectations about extortion and compliance and (ii) empirical expectations about their prevalence. ...
Added: July 22, 2026
Veselitskaya N., Malekova D. K., European Journal of Futures Research 2026 Vol. 14 P. 1–13
Foresight methods are often treated as transferable tools whose selection depends mainly on the object of analysis, the time horizon or the available data. This article argues that such a view is incomplete because foresight methods are embedded in governance settings and perform different institutional functions across them. The article does not claim that the ...
Added: July 22, 2026
Shekova E., Коваленко Б. Б., Екатерининская А. А. et al., СПб.: Академия русского балета им. А.Я. Вагановой, 2026.
Сборник статей посвящен актуальным проблемам управления творческими коллективами, финансированию государственных балетных театров, особенностям современных проектов и бизнес-планированию в сфере хореографического искусства. ...
Added: July 21, 2026
Tyurkin M., Azamat A., Cham: Springer, 2025.
This chapter explores the role of tokenization in blockchain technologies. Tokenization is a key enabler of the smart circular economy and organizational sustainability. Tokenization involves converting assets or value into digital tokens on a blockchain. This process offers new opportunities to enhance resource efficiency, transparency, and accountability within circular economy initiatives. By leveraging blockchain’s immutable ...
Added: July 20, 2026
Lola I. S., Asoskov D., Зинина Т. С., ИСИЭЗ НИУ ВШЭ, 2026.
Центр конъюнктурных исследований Института статистических исследований и экономики знаний НИУ ВШЭ представляет результаты ежегодного специализированного конъюнктурного мониторинга деловой активности ИТ-отрасли, проведенного в 2025 году. Выборка – около 700 организаций ИТ-отрасли (виды экономической деятельности 62, 63 согласно ОКВЭД2) из 30 субъектов Российской Федерации.
Программа обследования запущена с 2010 г. и основана на международном опыте измерения деловых тенденций ...
Added: July 20, 2026
Заболотнева П. А., Шаркова А. В., Новоселова И. Ю. et al., М.: Издательско-торговая корпорация «Дашков и Ко», 2025.
This monograph presents the author's research findings on improving the effectiveness of entrepreneurial activity. The relevance of the monograph's topic stems from the practical demand for applied research in the field of entrepreneurship development among Russian enterprises operating in the face of new challenges.
The monograph is intended for a wide range of readers, including representatives ...
Added: July 20, 2026
Abankina I., Зиньковский К. В., Креативные индустрии 2025 Т. 1 № 1 С. 53–66
The article presents an analysis of the demand for higher education in various fields of study in the context of public policy, the study is based on data from the HSE research “Monitoring of reception quality” for 2018–2024. The article proves that higher education in the creative industries sector directly depends on the income level ...
Added: July 20, 2026
Abankina I., Зиньковский К. В., Журнал Новой экономической ассоциации 2025 Т. 3 № 68 С. 299–308
The article presents an analysis of the demand and supply in higher education in various fi elds in the context of public policy. By studying the demand from families for various higher education programs, three areas of public policy are identifi ed that directly affect the supply and demand in higher education. The fi rst ...
Added: July 20, 2026
Degterev D. A., Морозенская Е. В., Азия и Африка сегодня 2026 № 7 С. 73–77
Abstract
The International Scientific Conference “Strategies for Industrial Development of African Countries,” attended by representatives of the domestic and international (primarily African) academic community, as well as representatives of Russian government agencies and business circles, was held at the Institute for African Studies of the Russian Academy of Sciences by the Center for Transition Economy Studies ...
Added: July 18, 2026
Авксентьева М. В., Ашихмин Я. И., Ашихмина О. В. et al., М.: ФГБУ "Издательство "Наука", 2023.
Предложены основные направления совершенствования планирования, организации и оплаты медицинской помощи, лекарственного обеспечения, информатизации и оценки технологий здравоохранения. Рекомендованы такие мероприятия, как конкретизация программы государственных гарантий бесплатного оказания гражданам медицинской помощи, создание системы общедоступного лекарственного обеспечения, использование клинико-статистических групп для оплаты медицинской помощи при ряде хронических неинфекционных заболеваний в амбулаторных условиях, формирование механизма привлечения соплатежей при ...
Added: July 16, 2026
Emelyanova O., Восток. Афро-азиатские общества: история и современность 2024 No. 1 P. 153–164
Food security in Japan has been under observation of analytics in both Japan and abroad as it is one of the key national security issues. Leading academic researchers of this issue in Japan include Suzuki N., Takeya T.,Yamamoto R. and Oguchi H. However, the main focus of their analysis is the social aspect. The English ...
Added: July 16, 2026
Aleshin D., Бирюков Е. С., Булатов А. С. et al., Аспект Пресс, 2025.
Учебное пособие подготовлено коллективом российских экономистов-международников, преимущественно из МГИМО. Оно посвящено анализу особенностей незападных экономических систем, а также участия данных стран в международных экономических отношениях.
Структурно учебное пособие состоит из трех разделов и 23 глав. Первый раздел посвящен различным аспектам методологии анализа незападных экономических систем. Приводятся как современные западные концепции классификации экономических систем, так и критические, а также незападные подходы к развитию (в том числе периферийная ...
Added: July 15, 2026
Degterev D. A., Степанова В. С., Международное право и международные организации 2025 № 3 С. 93–109
The issues of monetary cooperation between France and the member states of the West African Monetary Union (WAMU) have received wide coverage in academic literature. However, the phenomenon of the CFA franc as the "last colonial currency" of Africa is considered mainly in a journalistic vein, in a political and historical context, less often – ...
Added: July 15, 2026
Degterev D. A., Кирикова Т. Н., Россия и мир: научный диалог 2025 № 4 С. 37–57
This study focuses on the African policy of the Trump administration during his second term. The authors analyze why the formal framework for strategic planning in Africa proved too restrictive for the new US administration. Particular attention is paid to the consistent decline in international aid as a part of US African strategy. During Trump’s ...
Added: July 15, 2026
Hanif W., El Khoury R., Gubareva M. et al., International Review of Economics and Finance 2025 No. 103 Article 104416
This study investigates spillovers among the US, Europe, and Asia green economies, carbon allowances and oil price shocks in 2010–2023. We segregate oil shocks in demand-, supply-, and risk-driven price movements. The TVP-VAR methodology is applied to model the dynamic interrelationships among the markets. Our static connectedness outcomes highlight a substantial role of the US and European ...
Added: July 15, 2025
Umar Z., Hadad E., Phiri A. et al., Quarterly Review of Economics and Finance 2025 Vol. 101 Article 101977
This paper studies the return and volatility spillover among the seven largest technology companies (including Apple, Microsoft, Amazon, Alphabet (Google), Meta Platforms (formerly Facebook), Tesla, and Nvidia) referred to as Magnificent seven. We employ a quantile connected approach to study spillover and connectedness under different market conditions. We observe a high degree of interconnectedness in ...
Added: March 14, 2025
Huang S., Bossman A., Gubareva M. et al., Energy Economics 2024 Vol. 131 Article 107382
We explore the influence of oil price and geopolitical risk (GPR) on the international transmission of shocks within African forex markets. To gauge the dynamics of shock transmission, we employ the TVP-VAR connectedness model using daily data spanning over the period 2000–2023. We show that shock transmission between oil-exporting and oil-importing countries heterogeneously depends on ...
Added: February 18, 2024
Umar Z., Riaz Y., Shahab Y. et al., Pacific-Basin Finance Journal 2023 Vol. 80 Article 102056
This paper explores the connectedness between the returns and volatilities of the conventional and Islamic bond markets. We use the level, slope, and curvature of the US yield curve and estimate the connectedness of these factors with the Dow Jones Islamic indices (of 3 to 10 years of maturity) as well as the minimum connectedness portfolio. The ...
Added: June 22, 2023