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Legal families and environmental protection: Is there a causal relationship?

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  • Di Vita, Giuseppe

Abstract

In this paper we build on the analysis of La Porta et al. [La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and finance. Journal of Political Economy, 106(6), 1113-1155], to investigate the importance of legal families in explaining the dissimilar levels of environmental quality indicators among countries with different legal systems. The main intuition behind our analysis is that the nations in which the rights of shareholders are more protected promote real and financial investment; this increases the speed at which the per capita income corresponding to the declining branch of the Environmental Kutznets Curve (EKC) is achieved. In econometrics different regressions analyses were performed, using as dependent variables three different kinds of pollutants (CO2, fine suspended particulates and waste), and including as an explanation some financial variables never before considered in this kind of study.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 31 (2009)
Issue (Month): 5 (September)
Pages: 694-707

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Handle: RePEc:eee:jpolmo:v:31:y:2009:i:5:p:694-707

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Web page: http://www.elsevier.com/locate/inca/505735

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Keywords: Dummy variables Environmental Kutznets Curve Legal families Panel data Pollution emissions;

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References

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  1. Simeon Djankov & Rafael Porta & Florencio de & Andrei Shleifer, 2002. "Courts: The Lex Mundi Project," Yale School of Management Working Papers ysm277, Yale School of Management, revised 01 Nov 2003.
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  24. Di Vita, Giuseppe, 2008. "Is the discount rate relevant in explaining the Environmental Kuznets Curve?," Journal of Policy Modeling, Elsevier, vol. 30(2), pages 191-207.
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Citations

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Cited by:
  1. Antoci, Angelo & Borghesi, Simone & Russu, Paolo, 2011. "Environmental protection mechanisms and technological dynamics," MPRA Paper 36597, University Library of Munich, Germany.
  2. Horváthová, Eva, 2010. "Does environmental performance affect financial performance? A meta-analysis," Ecological Economics, Elsevier, vol. 70(1), pages 52-59, November.
  3. Castiglione, Concetta & Infante, Davide & Smirnova, Janna, 2012. "Rule of law and its implications for the environmental taxation-income path across European Countries," MPRA Paper 39433, University Library of Munich, Germany.

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