Environmental regulation and investment: Evidence from European industry data

Leiter, Andrea M.; Parolini, Arno; Winner, Hannes

doi:10.1016/j.ecolecon.2010.11.013

Cited by 247 publications

(132 citation statements)

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“…Their empirical results support for the presence of inverted-U relationship between income per capita and CO 2 emissions per capita. Leiter et al (2011) explored the relationship between environmental regulation and investment using the European industry data. Their analysis revealed that environmental regulations increase investment in European countries.…”

Section: Accepted Manuscriptmentioning

confidence: 99%

Does foreign direct investment impede environmental quality in high-, middle-, and low-income countries?

et al. 2015

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Section: Accepted Manuscriptmentioning

confidence: 99%

Does foreign direct investment impede environmental quality in high-, middle-, and low-income countries?

et al. 2015

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“…Early nologies rather than solely short-term fuel-switching and energy conservation. Early research into Europe's Emissions Trading System suggests that such long-term investresearch into Europe's Emissions Trading System suggests that such long-term investments may be limited (Leiter, Paolini, and Winner 2011). However, carbon markets ments may be limited (Leiter, Paolini, and Winner 2011).…”

Section: Lessons From the Early Carbon Markets Emissions Fall But Homentioning

confidence: 99%

Carbon Markets 15 Years after Kyoto: Lessons Learned, New Challenges

Newell

Pizer

Raimi

2013

Journal of Economic Perspectives

164

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Carbon markets are substantial and they are expanding. There are many lessons from market experiences over the past eight years: there should be fewer free allowances, better management of market-sensitive information, and a recognition that trading systems require adjustments that have consequences for market participants and market confidence. Moreover, the emerging market architecture features separate emissions trading systems serving distinct jurisdictions and a variety of other types of policies exist alongside the carbon markets. This situation is in sharp contrast to the top-down, integrated global trading architecture envisioned 15 years ago by the designers of the Kyoto Protocol and raises a suite of new questions. In this new architecture, jurisdictions with emissions trading have to decide how, whether, and when to link with one another. Stakeholders and policymakers must confront how to measure the comparability of efforts among markets as well as relative to a variety of other policy approaches. International negotiators must in turn work out a global agreement that can accommodate and support increasingly bottom-up approaches to carbon markets and climate change mitigation.

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“…However, they also detect an overall negative effect on productivity due to the process of diverting those investments from production activities. In the same way, Arimura et al (2007) recognize that a positive and significant relationship can occur between the stringency of environmental regulations and investment in R&D. Leiter et al (2011) underlines how environmental regulations, measured by industry's total current expenditures or a country-industry's revenue from environmental taxes, can affect different types of investments such as gross investment in tangible goods, machinery, construction and productive investments. Their findings apply to 9 manufacturing industries examined for 21 European countries over the period 1998-2007. the form of upstream firms and sectors, as a crucial source of technology to cope with environmental regulations.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In the first place, with the exception of the paper by Leiter et al (2011), environmental taxes, and in particular, in our case energy taxes, are scarcely investigated as types of regulations potentially inducing PH hypothesis to hold. In the second place, we examine the two versions of the PH: that is, we study the effect of energy taxes on innovation to examine the weak version of the PH and we investigate the extent to which environmental taxes affect productivity (directly and through innovation) to test the strong version of the PH.…”

Section: Introductionmentioning

confidence: 99%

The Effect of Within-Sector, Upstream and Downstream Energy Taxes on Innovation and Productivity

Franco

2014

SSRN Journal

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The aim of the paper is to investigate the effect of environmental stringency on innovation and productivity using a cross-country panel made up of 7 European countries for 13 manufacturing sectors over the years [2001][2002][2003][2004][2005][2006][2007]. This research topic goes under the heading of Porter Hypothesis (PH) of which different versions have been tested. We take into consideration both the strong and the weak versions while adding some peculiarities to the analysis. Firstly, we assess the role played by a specific environmental regulation, that is energy taxes, that have rarely been empirically tested as factors that can favour PH hypothesis to be verified. Secondly, we do not consider, within the same framework, only the effect of energy taxes in the same sector (within-sector), but also the role played by energy taxes in upstream and downstream sectors in terms of input-output relationship. Thirdly, we test these relationships also 'indirectly' by verifying whether innovation can be one of the channel through which higher sectoral productivity can be reached.The main findings suggest that downstream stringency is the most relevant driver for innovation and that most of the effect of regulation on productivity is direct, while the part of the effect mediated by induced innovation is not statistically significant.

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Environmental regulation and investment: Evidence from European industry data

Cited by 247 publications

References 32 publications

Does foreign direct investment impede environmental quality in high-, middle-, and low-income countries?

Does foreign direct investment impede environmental quality in high-, middle-, and low-income countries?

Carbon Markets 15 Years after Kyoto: Lessons Learned, New Challenges

The Effect of Within-Sector, Upstream and Downstream Energy Taxes on Innovation and Productivity

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