Foreign Direct Investment and The Pollution Haven Hypothesis: Evidence from Listed Firms
Business has often been arguing against the introduction of a carbon tax because it would induce a pollution haven effect - reducing the competitiveness of domestic production and shifting both production and emissions to countries where fossil fuels are cheaper. In this paper, we shed light on such...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2017
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1379 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Business has often been arguing against the introduction of a carbon tax because it would induce a pollution haven effect - reducing the competitiveness of domestic production and shifting both production and emissions to countries where fossil fuels are cheaper. In this paper, we shed light on such claims by estimating the effect of energy prices on one of the possible channels of the pollution haven effect - foreign direct investment (FDI). Using data for listed firms in 23 OECD countries, we find that the effect of higher domestic energy prices on firms' outward stock of FDI has been significant and positive, but small in magnitude. This effect seems driven by more permanent shocks to energy prices, in particular by those coming from more stringent upstream environmental policies. |
| Beschreibung: | 1 Online-Ressource (37 p.) |
| DOI: | 10.1787/1e8c0031-en |
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| spelling | Garsous, Grégoire VerfasserIn aut Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms Grégoire, Garsous and Tomasz, Kozluk Paris OECD Publishing 2017 1 Online-Ressource (37 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1379 Business has often been arguing against the introduction of a carbon tax because it would induce a pollution haven effect - reducing the competitiveness of domestic production and shifting both production and emissions to countries where fossil fuels are cheaper. In this paper, we shed light on such claims by estimating the effect of energy prices on one of the possible channels of the pollution haven effect - foreign direct investment (FDI). Using data for listed firms in 23 OECD countries, we find that the effect of higher domestic energy prices on firms' outward stock of FDI has been significant and positive, but small in magnitude. This effect seems driven by more permanent shocks to energy prices, in particular by those coming from more stringent upstream environmental policies. Economics Kozluk, Tomasz MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/1e8c0031-en Volltext |
| spellingShingle | Garsous, Grégoire Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms Economics |
| title | Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms |
| title_auth | Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms |
| title_exact_search | Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms |
| title_full | Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms Grégoire, Garsous and Tomasz, Kozluk |
| title_fullStr | Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms Grégoire, Garsous and Tomasz, Kozluk |
| title_full_unstemmed | Foreign Direct Investment and The Pollution Haven Hypothesis Evidence from Listed Firms Grégoire, Garsous and Tomasz, Kozluk |
| title_short | Foreign Direct Investment and The Pollution Haven Hypothesis |
| title_sort | foreign direct investment and the pollution haven hypothesis evidence from listed firms |
| title_sub | Evidence from Listed Firms |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/1e8c0031-en |
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