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The role of property rights in determining the environmental quality-income relationship

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  • Bhattacharya, Haimanti
  • Lueck, Dean
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    Abstract

    This paper examines the role of property rights in shaping the relationship between environmental quality and income. It develops an analytical framework that integrates the effects of property rights evolution, natural resource attributes, agent characteristics, and production technology on the environment-income relationship. The substantive strength of this framework lies in its ability to rationalize a wide range of environment-income relationships. The model shows that the U-shaped environment-income relationship, which is consistent with the Environmental Kuznets Curve (EKC) hypothesis, can arise only under specific model conditions. Thus the framework provides an additional explanation for non-universality of EKC. We provide evidence in support of our framework from case studies of various natural resources.

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    Bibliographic Info

    Article provided by Elsevier in its journal Ecological Economics.

    Volume (Year): 68 (2009)
    Issue (Month): 10 (August)
    Pages: 2511-2524

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    Handle: RePEc:eee:ecolec:v:68:y:2009:i:10:p:2511-2524

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    Web page: http://www.elsevier.com/locate/ecolecon

    Related research

    Keywords: Environment and income Property rights;

    References

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    1. Birdyshaw, Edward & Ellis, Christopher, 2007. "Privatizing an open-access resource and environmental degradation," Ecological Economics, Elsevier, vol. 61(2-3), pages 469-477, March.
    2. David I. Stern, 2003. "The Rise and Fall of the Environmental Kuznets Curve," Rensselaer Working Papers in Economics 0302, Rensselaer Polytechnic Institute, Department of Economics.
    3. Shafik, Nemat & Bandyopadhyay, Sushenjit, 1992. "Economic growth and environmental quality : time series and cross-country evidence," Policy Research Working Paper Series 904, The World Bank.
    4. Grafton, R.Q. & Squires, D. & Fox, K.J., 1998. "Private Property and Economic Efficiency: A Study of a Common-Pool Resource," Working Papers 9804e, University of Ottawa, Department of Economics.
    5. Gary D. Libecap & James L. Smith, 2002. "The economic evolution of petroleum property rights in the United States," ICER Working Papers 25-2002, ICER - International Centre for Economic Research.
    6. Deacon, Robert & Norman, Catherine S, 2004. "Does the Environmental Kuznets Curve Describe How Individual Countries Behave?," University of California at Santa Barbara, Economics Working Paper Series qt6gm8164w, Department of Economics, UC Santa Barbara.
    7. Umbeck, John, 1977. "The California gold rush: A study of emerging property rights," Explorations in Economic History, Elsevier, vol. 14(3), pages 197-226, July.
    8. Dean Lueck & Thomas J. Miceli, 2004. "Property Law," Working papers 2004-04, University of Connecticut, Department of Economics.
    9. Bohn, Henning & Deacon, Robert, 1997. "Ownership Risk, Investment, and the Use of Natural Resources," Discussion Papers dp-97-20, Resources For the Future.
    10. Anderson, Terry L & Hill, Peter J, 1975. "The Evolution of Property Rights: A Study of the American West," Journal of Law and Economics, University of Chicago Press, vol. 18(1), pages 163-79, April.
    11. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
    12. Brian R. Copeland & M. Scott Taylor, 2009. "Trade, Tragedy, and the Commons," American Economic Review, American Economic Association, vol. 99(3), pages 725-49, June.
    13. Johnson, Ronald N. & Libecap, Gary D., 1980. "Efficient markets and great lakes timber: A conservation issue reexamined," Explorations in Economic History, Elsevier, vol. 17(4), pages 372-385, October.
    14. Dinda, Soumyananda, 2005. "A theoretical basis for the environmental Kuznets curve," Ecological Economics, Elsevier, vol. 53(3), pages 403-413, May.
    15. Anthony Scott, 1955. "The Fishery: The Objectives of Sole Ownership," Journal of Political Economy, University of Chicago Press, vol. 63, pages 116.
    16. Lopez Ramon, 1994. "The Environment as a Factor of Production: The Effects of Economic Growth and Trade Liberalization," Journal of Environmental Economics and Management, Elsevier, vol. 27(2), pages 163-184, September.
    17. Theodore Panayotou, 2000. "Economic Growth and the Environment," CID Working Papers 56, Center for International Development at Harvard University.
    18. Libecap, Gary D & Wiggins, Steven N, 1985. "The Influence of Private Contractual Failure on Regulation: The Case of Oil Field Unitization," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 690-714, August.
    19. Andreoni, James & Levinson, Arik, 2001. "The simple analytics of the environmental Kuznets curve," Journal of Public Economics, Elsevier, vol. 80(2), pages 269-286, May.
    20. Gene M. Grossman & Alan B. Krueger, 1994. "Economic Growth and the Environment," NBER Working Papers 4634, National Bureau of Economic Research, Inc.
    21. Buchanan, James M & Yoon, Yong J, 2000. "Symmetric Tragedies: Commons and Anticommons," Journal of Law and Economics, University of Chicago Press, vol. 43(1), pages 1-13, April.
    22. Selden Thomas M. & Song Daqing, 1995. "Neoclassical Growth, the J Curve for Abatement, and the Inverted U Curve for Pollution," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 162-168, September.
    23. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
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    Cited by:
    1. Halkos, George & Tzeremes, Nickolaos, 2012. "Carbon dioxide emissions and governance: A nonparametric analysis for the G-20," MPRA Paper 40387, University Library of Munich, Germany.

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