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Fostering green financing at the subnational level. The case of the Basque Country

Author

Listed:
  • Jorge Fernández Gómez

    (Orkestra-Basque Institute of Competitiveness and. Deusto Business School (University of Deusto))

  • Macarena Larrea Basterra

    (Orkestra-Basque Institute of Competitiveness and. Deusto Business School (University of Deusto))

Abstract

Although the role of the public sector in developing green financing has been analyzed, there is a gap in the literature regarding the specific funtions of subnational (or regional) governments to facilitate financing of clean technologies and sustainability projects. This research aims to contribute to the academic literature on the specific channels and mechanisms through which a regional government can facilitate green financing. To answer this question, this paper studies the role of the public sector at various administration levels (supranational, national and subnational) in facilitating the financing of sustainable investments to delineate best practices. It develops a framework to assess strategies to foster green finance, with a focus on the regional level, and applies it to the specific case of the Basque Country.

Suggested Citation

  • Jorge Fernández Gómez & Macarena Larrea Basterra, 2021. "Fostering green financing at the subnational level. The case of the Basque Country," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 99(01), pages 151-181.
    • Handle: RePEc:ekz:ekonoz:2021109
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    More about this item

    Keywords

    green bonds; green financing; role of governments; subnational governments; sustainable finance;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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