Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth: = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité
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: | |
|---|---|
| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2014
|
| Series: | OECD Economics Department Working Papers
no.1179 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| 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. |
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| 520 | |a 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. | ||
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| spelling | Albrizio, Silvia VerfasserIn aut Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité Silvia, Albrizio, Tomasz, Koźluk and 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. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1179 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 MitwirkendeR ctb Zipperer, Vera MitwirkendeR ctb |
| spellingShingle | Albrizio, Silvia Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité Environment Economics |
| title | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité |
| 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 = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité |
| title_exact_search | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité |
| title_full | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité Silvia, Albrizio, Tomasz, Koźluk and Vera, Zipperer |
| title_fullStr | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité Silvia, Albrizio, Tomasz, Koźluk and Vera, Zipperer |
| title_full_unstemmed | Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité Silvia, Albrizio, Tomasz, Koźluk and 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 donnees empiriques sur les effets de la severite des politiques environnementales sur la croissance de la productivite |
| title_sub | = Données empiriques sur les effets de la sévérité des politiques environnementales sur la croissance de la productivité |
| topic | Environment Economics |
| topic_facet | Environment Economics |
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