摘要：Expansion of green bond markets as an appropriate way to lower environmental pollutionis one of the most debatable issues among scholars. However, the expansion of this market is nota simple matter and depends on several factors. The main purpose of this study is to carry out amulti-dimensional analysis using the analytic hierarchy process (AHP) method to find and prioritizefactors influencing the development of green bond markets. As a case, we do our analysis for Vietnamthat, since the last years, has been trying to expand green bond market as an effective investmentchannel to finance low-carbon projects. The main findings revealed that legal infrastructure, officialinterest rate of green bonds, and economic stability are the most important factors directly affectinggreen bond market expansion. Therefore, economic and legal requirements should be addressed bypolicy makers. As major policy implications, we recommend an affordable price of green bonds andimprovement of economic and financial stability to accelerate the development of green bond markets.
关键词：green bonds; market expansion; analytic hierarchy process
