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  • 1
    Online Resource
    Online Resource
    Environmental policies and productivity growth : a critical review of empirical findings (2014)
    Paris : OECD Publishing
    Details
    UID:
    gbv_1771981687
    Format: 1 Online-Ressource (31 p.) , 21 x 28cm.
    Content: The economic effects of environmental policies are of central interest to policymakers. The traditional approach sees environmental policies as a burden on economic activity, at least in the short to medium term, as they raise costs without increasing output and restrict the set of production technologies and outputs. At the same time, the Porter Hypothesis claims that well-designed environmental policies can provide a “free lunch” – encouraging innovation, bringing about gains in profitability and productivity that can outweigh the costs of the policy. This paper reviews the empirical evidence on the link between environmental policy stringency and productivity growth, and the various channels through which such effects can take place. The results are ambiguous, in particular as many of the studies are fragile and context-specific, impeding the generalisation of conclusions. Practical problems related to data, measurement and estimation strategies are discussed, leading to suggestions as to how they can be addressed in future research. These include: improving the measurement of environmental policy stringency; investigating effects of different types of instruments and details of instrument design; exploiting cross-country variation; and the complementary use of different levels of aggregation.
    In: OECD Journal: Economic Studies, Vol. 2014, no. 1, p. 155-185
    In: volume:2014
    In: year:2014
    In: number:1
    In: pages:155-185
    Language: English
    DOI: 10.1787/eco_studies-2014-5jz2drqml75j
    URL: lizenzpflichtig
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  • 2
    Online Resource
    Online Resource
    Empirical Evidence on the Effects of Environmental Policy Stringency on Productivity Growth (2014)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047934828
    Format: 1 Online-Ressource (48 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: 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
    Language: English
    DOI: 10.1787/5jxrjnb36b40-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 3
    Online Resource
    Online Resource
    Do Environmental Policies Matter for Productivity Growth? : Insights from New Cross-Country Measures of Environmental Policies (2014)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047931855
    Format: 1 Online-Ressource (40 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: Environmental policies address wellbeing and sustainability objectives, affecting firm and household behaviour. A newly developed, cross-country composite proxy of environmental policy stringency (EPS) shows that stringency has been increasing across OECD countries over the past two decades. However, the tightening environmental policies have had little effect on aggregate productivity, spurring primarily short-term adjustments. Nevertheless, they have led to various effects within the economy - the most technologically advanced industries and firms have seen a small increase in productivity, possibly being in the best position to adapt. Least productive firms have seen their productivity fall. Part of the effect is likely to have taken place through entry and exit of firms and relocation of activities. Finally, this project provides evidence on the anti-competitive bias of some aspects of environmental policies. The indicator of Burdens on the Economy due to Environmental Policies (BEEP) shows that barriers to entry and competition, and the consideration given to economic effects of environmental policies vary notably across countries, but that this variation is not related to the stringency of policies. Hence, to support both economic and environmental outcomes, stringent environmental policies can and should be implemented with minimum barriers to entry and competition
    Language: English
    DOI: 10.1787/5jxrjncjrcxp-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 4
    Online Resource
    Online Resource
    Productivity Measurement with Natural Capital and Bad Outputs (2014)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047932707
    Format: 1 Online-Ressource (36 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: This paper presents a productivity growth measure that explicitly accounts for natural capital as an input factor and for undesirable goods, or "bads", as an output of the production process. The discussion focuses on the extension of productivity measurement for bad outputs and estimates of their shadow prices, while the inclusion of natural capital is discussed in more depth in a companion paper. As bad outputs are the target of environmental policies, a productivity measure that does not take bad outputs into account will underestimate productivity growth, whenever countries devote some inputs to reducing bad outputs, thus improving the environmental impact of their production processes, rather than to increasing the production of goods and services. An adjusted productivity measures is needed in an analysis of the effect of bad outputs on productivity growth as otherwise the effectiveness of environmental policies in promoting production processes that make more efficient use of the environment will be wrongly assessed. Results suggest that the adjustment of the traditional productivity growth measure for bad outputs is small. While this partly hinges on the fact, that due to a lack of more comprehensive data, only a limited set of bad outputs are considered in this paper, namely CO2, SOX and NOX emissions, the relatively small adjustment of the traditional productivity growth measure is good news for two reasons. First, it implies that ignoring the bad outputs considered in this paper results in a relatively small bias of productivity measurement, and thus analysis based on traditional measures should be relatively reliable in this regard. Second, it also implies that the acceleration in productivity growth that would help to substantially reduce the bad outputs considered in this paper, without reducing output growth, should be possible to achieve
    Language: English
    DOI: 10.1787/5jz0wh5t0ztd-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 5
    Online Resource
    Online Resource
    Exploring the relationship between environmentally related taxes and inequality in income sources : An empirical cross-country analysis (2016)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047934948
    Format: 1 Online-Ressource (36 Seiten) , 21 x 29.7cm
    Series Statement: OECD Environment Working Papers
    Content: This paper presents the first empirical analysis of the macroeconomic relationship between environmentally related taxes and inequality in income sources. The analysis also investigates whether this relationship differs between countries which have implemented environmental tax reforms (ETRs) and ones which have not. Following earlier empirical literature, income inequality is measured by the disposable-income-based Gini coefficient. The analysis is based on a panel of all 34 OECD countries spanning the period from 1995 to 2011. Information about the implementation of ETRS in the examined period is collected through a review of relevant academic and policy literature. Empirical results from econometric models reveal that, on average, there is no statistically significant relationship between the overall share of environmentally related tax revenues in GDP and inequality in income sources. However, the relationship varies with the taxed activity under consideration and the existence of an explicit mechanism to redistribute environmentally related tax revenues. In countries where such mechanisms are absent, energy tax revenues (% of GDP) are shown to have a positive, although modest, relationship with income inequality. In contrast, in countries where energy tax revenues are, at least partially, used to reduce tax burden on income and labour, there is a negative relationship between energy taxes and inequality in income sources. On the contrary, no significant relationship is identified between motor vehicle and other transport tax revenues and income inequality, while revenues from other environmentally related taxes, such as waste and air pollution taxes, are negatively associated with income inequality, regardless of the existence of an explicit revenue recycling mechanism
    Language: English
    DOI: 10.1787/5jm3mbfzkrzp-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 6
    Online Resource
    Online Resource
    The Price of Oil - Will it Start Rising Again? (2013)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047934692
    Format: 1 Online-Ressource (45 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: Following a sharp drop amidst the global economic crisis and a subsequent recovery, the spot price of crude oil has been broadly stable for the past couple of years. This paper discusses the factors that drive oil demand and supply and, hence, the price of the resource. A set of oil demand equations is estimated for OECD and non-OECD countries, which is then combined with assumptions about the behaviour of supply to analyse the impact of a range of macroeconomic and policy scenarios on the future oil price path. The scenario analysis suggests that a return of world growth to slightly below pre-crisis rates would be consistent with an increase in the price of Brent crude to far above early-2012 levels by 2020. This increase would be mostly driven by higher demand from non-OECD economies - in particular China and India. The expected rise in the oil price is unlikely to be smooth. Sudden changes in the supply or demand of oil can have very large effects on the price in the short run
    Language: English
    DOI: 10.1787/5k49q186vxnp-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 7
    Online Resource
    Online Resource
    Environmental Policies and Productivity Growth : A Critical Review of Empirical Findings (2013)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047931273
    Format: 1 Online-Ressource (37 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: The economic effects of environmental policies are of central interest to policymakers. The traditional approach sees environmental policies as a burden on economic activity, at least in the short to medium term, as they raise costs without increasing output and restrict the set of production technologies and outputs. In contrast, the Porter Hypothesis claims that well-designed environmental policies can provide a 'free lunch' - encouraging innovation, bringing about gains in profitability and productivity that can outweigh the costs of the policy. This paper reviews the empirical evidence on the link between environmental policy stringency and productivity growth, and the various channels through which such effects can take place. The results are ambiguous, in particular as many of the studies are fragile and context-specific, impeding the generalisation of conclusions. Practical problems related to data, measurement and estimation strategies are discussed, leading to suggestions how they can be addressed in future research. These include: improving the measurement of environmental policy stringency; investigating into effects of different types of instruments and details of instrument design; exploiting cross-country variation; and the complementary use of different levels of aggregation
    Language: English
    DOI: 10.1787/5k3w725lhgf6-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 8
    Online Resource
    Online Resource
    Productivity Measurement with Natural Capital (2013)
    Paris : OECD Publishing
    Details
    UID:
    b3kat_BV047934805
    Format: 1 Online-Ressource (28 Seiten) , 21 x 29.7cm
    Series Statement: OECD Economics Department Working Papers
    Content: Traditional measures of multi-factor productivity (MFP) growth generally do not recognise natural capital as inputs into the production process. Since productivity growth is measured as the residual between output and input growth, it will pick up the growth in unmeasured inputs, which can lead to a bias. The purpose of this paper is to gain a better understanding of the role of natural capital for productivity measurement and as a source of economic growth. To this aim, aggregate economy productivity measures mostly from the OECD Productivity Database are extended by incorporating natural capital as an additional input factor into the production function. More specifically, this paper considers oil, gas and various minerals as natural capital inputs, drawing on data from the World Bank. Results suggest that failing to account for natural capital tends to lead to an underestimation of productivity growth in countries where the use of natural capital in production is declining because of a dwindling natural capital stock. In return, productivity growth is sometimes overestimated in times of natural resource booms, if natural capital is not taken into account as an input factor. The direction of the adjustment to productivity growth depends on the rate of change of natural capital extraction relative to the rate of change of other inputs. The extended framework also makes the contribution of natural capital to economic growth explicit. This can be useful for countries relying on nonrenewable resources to better understand the need to develop other sources of growth, for example by investing in human or productive capital, to prepare for times when resources endowments become scarce. While the measurement of natural capital remains very incomplete, leaving out natural forests, water and soil, the measurement framework can readily be applied to more encompassing data on the natural capital stock, once it becomes available
    Language: English
    DOI: 10.1787/5k3xnhsz0vtg-en
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext  (URL des Erstveröffentlichers)
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  • 9
    Online Resource
    Online Resource
    Exploring the relationship between environmentally related taxes and inequality in income sources : an empirical cross-country analysis (2016)
    Paris : OECD Publishing
    Details
    UID:
    gbv_877872775
    Format: 1 Online-Ressource (circa 37 Seiten) , Illustrationen
    Series Statement: OECD environment working papers no. 100
    Content: This paper presents the first empirical analysis of the macroeconomic relationship between environmentally related taxes and inequality in income sources. The analysis also investigates whether this relationship differs between countries which have implemented environmental tax reforms (ETRs) and ones which have not. Following earlier empirical literature, income inequality is measured by the disposable-income-based Gini coefficient. The analysis is based on a panel of all 34 OECD countries spanning the period from 1995 to 2011. Information about the implementation of ETRS in the examined period is collected through a review of relevant academic and policy literature. Empirical results from econometric models reveal that, on average, there is no statistically significant relationship between the overall share of environmentally related tax revenues in GDP and inequality in income sources. However, the relationship varies with the taxed activity under consideration and the existence of an explicit mechanism to redistribute environmentally related tax revenues. In countries where such mechanisms are absent, energy tax revenues (% of GDP) are shown to have a positive, although modest, relationship with income inequality. In contrast, in countries where energy tax revenues are, at least partially, used to reduce tax burden on income and labour, there is a negative relationship between energy taxes and inequality in income sources. On the contrary, no significant relationship is identified between motor vehicle and other transport tax revenues and income inequality, while revenues from other environmentally related taxes, such as waste and air pollution taxes, are negatively associated with income inequality, regardless of the existence of an explicit revenue recycling mechanism.
    Note: Zusammenfassung in französischer Sprache
    Language: English
    Keywords: Arbeitspapier ; Graue Literatur
    DOI: 10.1787/5jm3mbfzkrzp-en
    URL: Volltext
    URL: lizenzpflichtig
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    UB Potsdam
  • 10
    Online Resource
    Online Resource
    Do Environmental Policies Matter for Productivity Growth? : Insights from New Cross-Country Measures of Environmental Policies (2014)
    Paris : OECD Publishing
    Details
    UID:
    gbv_1656842793
    Format: Online-Ressource (41 p.)
    Series Statement: OECD Economics Department Working Papers no.1176
    Content: Environmental policies address wellbeing and sustainability objectives, affecting firm and household behaviour. A newly developed, cross-country composite proxy of environmental policy stringency (EPS) shows that stringency has been increasing across OECD countries over the past two decades. However, the tightening environmental policies have had little effect on aggregate productivity, spurring primarily short-term adjustments. Nevertheless, they have led to various effects within the economy - the most technologically advanced industries and firms have seen a small increase in productivity, possibly being in the best position to adapt. Least productive firms have seen their productivity fall. Part of the effect is likely to have taken place through entry and exit of firms and relocation of activities. Finally, this project provides evidence on the anti-competitive bias of some aspects of environmental policies. The indicator of Burdens on the Economy due to Environmental Policies (BEEP) shows that barriers to entry and competition, and the consideration given to economic effects of environmental policies vary notably across countries, but that this variation is not related to the stringency of policies. Hence, to support both economic and environmental outcomes, stringent environmental policies can and should be implemented with minimum barriers to entry and competition.
    Language: English
    DOI: 10.1787/5jxrjncjrcxp-en
    URL: Volltext
    URL: lizenzpflichtig
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    Stabi Berlin
    UB Potsdam
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