Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth:
This paper investigates the impact of changes in the stringency of environmental policies on productivity growth in OECD countries. Using a new environmental policy stringency (EPS) index, it estimates a reduced-form model of multi-factor productivity growth, where the effect of countries' envi...
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| Main Author: | |
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| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2014
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | This paper investigates the impact of changes in the stringency of environmental policies on productivity growth in OECD countries. Using a new environmental policy stringency (EPS) index, it estimates a reduced-form model of multi-factor productivity growth, where the effect of countries' environmental policies varies with pollution intensity of the industry and technological advancement. A multi-layer analysis provides insights at the aggregate economy, the industry and the firm level. At the aggregate economy level, a negative effect on productivity growth is found one year ahead of the policy change. This negative "announcement effect" is offset within three years after the implementation. At the industry level, a tightening of environmental policy is associated with a short-term increase in industry-level productivity growth, for the most technologically advanced country-industry pairs. This effect diminishes with the distance to the global productivity frontier, becoming insignificant at larger distances. At the firm level, only the technologically most advanced firms show a positive effect on productivity growth from a tightening of environmental policies, while a third of firms, the less productive ones, experience a productivity slowdown |
| Physical Description: | 1 Online-Ressource (48 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5jxrjnb36b40-en |
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| spelling | Albrizio, Silvia Verfasser aut Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth Silvia Albrizio, Tomasz Koźluk and Vera Zipperer = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité / Silvia Albrizio, Tomasz Koźluk et Vera Zipperer Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité Paris OECD Publishing 2014 1 Online-Ressource (48 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper investigates the impact of changes in the stringency of environmental policies on productivity growth in OECD countries. Using a new environmental policy stringency (EPS) index, it estimates a reduced-form model of multi-factor productivity growth, where the effect of countries' environmental policies varies with pollution intensity of the industry and technological advancement. A multi-layer analysis provides insights at the aggregate economy, the industry and the firm level. At the aggregate economy level, a negative effect on productivity growth is found one year ahead of the policy change. This negative "announcement effect" is offset within three years after the implementation. At the industry level, a tightening of environmental policy is associated with a short-term increase in industry-level productivity growth, for the most technologically advanced country-industry pairs. This effect diminishes with the distance to the global productivity frontier, becoming insignificant at larger distances. At the firm level, only the technologically most advanced firms show a positive effect on productivity growth from a tightening of environmental policies, while a third of firms, the less productive ones, experience a productivity slowdown Environment Economics Koźluk, Tomasz ctb Zipperer, Vera ctb https://doi.org/10.1787/5jxrjnb36b40-en Verlag kostenfrei Volltext |
| spellingShingle | Albrizio, Silvia Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth Environment Economics |
| title | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth |
| title_alt | Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité |
| title_auth | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth |
| title_exact_search | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth |
| title_exact_search_txtP | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth |
| title_full | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth Silvia Albrizio, Tomasz Koźluk and Vera Zipperer = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité / Silvia Albrizio, Tomasz Koźluk et Vera Zipperer |
| title_fullStr | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth Silvia Albrizio, Tomasz Koźluk and Vera Zipperer = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité / Silvia Albrizio, Tomasz Koźluk et Vera Zipperer |
| title_full_unstemmed | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth Silvia Albrizio, Tomasz Koźluk and Vera Zipperer = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité / Silvia Albrizio, Tomasz Koźluk et Vera Zipperer |
| title_short | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth |
| title_sort | empirical evidence on the effects of environmental policy stringency on productivity growth |
| topic | Environment Economics |
| topic_facet | Environment Economics |
| url | https://doi.org/10.1787/5jxrjnb36b40-en |
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