نوع مقاله : مقاله پژوهشی
عنوان مقاله English
نویسندگان English
This study analyzes the role of new risk transfer instruments, including Cat Bonds and Sidecar contracts, in financial policymaking. The present study uses a qualitative approach and systematic synthesis (metasynthesis) and reviews related studies in the period 2000 to 2025 based on the seven-stage model of Sandelowski and Barroso. Out of 119 initial studies, 56 were selected as eligible for the final analysis. The extracted factors were classified into five main categories, including legal and regulatory factors, technical and risk management, market and technology, finance and investment, and behavioral and psychological factors, by identifying 27 factors that can help formulate strategies to increase the financial resilience of the government and capital market institutions and improve the efficiency of macroeconomic policies. The results show that "stock exchange structure", "risk management" and "capital market capacity" are the most important from the economic and financial policymaking perspectives, respectively. Therefore, understanding these factors, with respect to their degree of impact, can not only help investors and market regulators in the targeted design of these bonds in Iran, but also lead to optimal risk allocation, increased financial resilience of the government and capital market institutions, and improved efficiency of fiscal policies in the macroeconomics. These three factors can be essential prerequisites for attracting domestic and international institutional investors and deepening the capital market, which in turn prevents the concentration of systematic risk from climate shocks in the government balance sheet or the insurance sector.
کلیدواژهها English