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Environmental Regulation, Investment Timing, and Technology Choice
Abstract
We test whether environmental regulation affects investment decisions, using Census data for individual paper mills. New mills in states with strict environmental regulations choose cleaner production technologies, with differences in air and water pollution regulation also influencing technology choice. Examining investment allocation across existing plants, we find that abatement and productive investment tend to be scheduled together. However, plants with high abatement investment over the entire period spend significantly less on productive capital. This seems to reflect both environmental investment ‘crowding out’ productive investment within a plant, and firms shifting investment towards plants facing less stringent abatement requirements.
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Citations
Cited by
The Porter Hypothesis at 20: Can Environmental Regulation Enhance Innovation and Competitiveness?
Ambec, S., Cohen, M. A., Elgie, S., & Lanoie, P. (2013) · Review of Environmental Economics and Policy · doi:10.1093/reep/res016 · Cited by 1,928
Does It Pay to Be Green? A Systematic Overview
Stefan, A., & Paul, L. (2008) · Academy of Management Perspectives · doi:10.5465/amp.2008.35590353 · Cited by 1,759
Environmental Policy and Technological Change
Jaffe, A. B., Newell, R. G., & Stavins, R. N. (2002) · Environmental and Resource Economics · doi:10.1023/a:1015519401088 · Cited by 1,050
Environmental regulation and investment: Evidence from European industry data
Leiter, A. M., Parolini, A., & Winner, H. (2011) · Ecological Economics · doi:10.1016/j.ecolecon.2010.11.013 · Cited by 314
Profiting from Regulation: Evidence from the European Carbon Market
Bushnell, J. B., Chong, H., & Mansur, E. T. (2013) · American Economic Journal: Economic Policy · doi:10.1257/pol.5.4.78 · Cited by 199
Metadata
- Authors
- Gray, W. B., & Shadbegian, R. J.
- Venue
- The Journal of Industrial Economics
- Publisher
- Wiley
- Published
- 1998-06
- Volume
- 46
- Issue
- 2
- Pages
- 235-256
- ISSN
- 0022-1821 (ISSN-L)
- 1467-6451
- OpenAlex
- W2889782506
- Cited by
- 349
- References
- 0
- FWCI
- 6.67
- Type
- journal article
- Language
- en
- Open access
- closed
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- Gray, W. B., & Shadbegian, R. J. (1998). Environmental Regulation, Investment Timing, and Technology Choice. The Journal of Industrial Economics. https://doi.org/10.1111/1467-6451.00070
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