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

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Author Info
Di Vita, Giuseppe

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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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File URL: http://www.sciencedirect.com/science/article/B6V82-4VPV590-1/2/bbef3103dce18a3bf9c0f02fa737bb7a
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Publisher 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 listed on IDEAS
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  1. Shafik, Nemat, 1994. "Economic Development and Environmental Quality: An Econometric Analysis," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 757-73, Supplemen. [Downloadable!] (restricted)
  2. Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Harvard Institute of Economic Research Working Papers 1788, Harvard - Institute of Economic Research.
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  3. Giuseppe Di Vita, 2003. "Is the Discount Rate Relevant in Explaining the Environmental Kuznets Curve?," Working Papers 2003.83, Fondazione Eni Enrico Mattei. [Downloadable!]
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  4. Di Vita, Giuseppe, 2008. "Capital accumulation, interest rate, and the income-pollution pattern. A simple model," Economic Modelling, Elsevier, vol. 25(2), pages 225-235, March. [Downloadable!] (restricted)
  5. Rafael Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 2006. "What Works in Securities Laws?," Journal of Finance, American Finance Association, vol. 61(1), pages 1-32, 02. [Downloadable!] (restricted)
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  6. Douglas Holtz-Eakin & Thomas M. Selden, 1992. "Stoking the Fires? Co2 Emissions and Economic Growth," NBER Working Papers 4248, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. Islam, N. & Vincent, J., 1999. "Unveiling the Income-Environment Relationship: An Exploration into the Determinants of Environmental Quality," Papers 701, Harvard - Institute for International Development.
  8. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300. [Downloadable!] (restricted)
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  9. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, 09. [Downloadable!]
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  10. M. Galeotti & Alessandro Lanza, 1999. "Desperately seeking (environmental) Kuznets," Working Paper CRENoS 199901, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
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  11. Jean-Paul Chavas, 2004. "On Impatience, Economic Growth and the Environmental Kuznets Curve: A Dynamic Analysis of Resource Management," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(2), pages 123-152, June. [Downloadable!] (restricted)
  12. Werner Antweiler & Brian R. Copeland & M. Scott Taylor, 2001. "Is Free Trade Good for the Environment?," American Economic Review, American Economic Association, vol. 91(4), pages 877-908, September. [Downloadable!] (restricted)
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  13. repec:ilo:ilaoep:238 is not listed on IDEAS
  14. Djankov, Simeon & McLiesh, Caralee & Shleifer, Andrei, 2007. "Private credit in 129 countries," Journal of Financial Economics, Elsevier, vol. 84(2), pages 299-329, May. [Downloadable!] (restricted)
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  15. Panayotou, Theodore, 1997. "Demystifying the environmental Kuznets curve: turning a black box into a policy tool," Environment and Development Economics, Cambridge University Press, vol. 2(04), pages 465-484, November. [Downloadable!]
  16. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December. [Downloadable!] (restricted)
    Other versions:
  17. CARSON, RICHARd T. & JEON, YONGIL & McCUBBIN, DONALD R., 1997. "The relationship between air pollution emissions and income: US Data," Environment and Development Economics, Cambridge University Press, vol. 2(04), pages 433-450, November. [Downloadable!]
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  18. Cole, M.A. & Rayner, A.J. & Bates, J.M., 1997. "The environmental Kuznets curve: an empirical analysis," Environment and Development Economics, Cambridge University Press, vol. 2(04), pages 401-416, November. [Downloadable!]
  19. Dinda, Soumyananda, 2004. "Environmental Kuznets Curve Hypothesis: A Survey," Ecological Economics, Elsevier, vol. 49(4), pages 431-455, August. [Downloadable!] (restricted)
  20. Mathias M Siems, 2006. "Legal origins: reconciling law and finance and comparative law," ESRC Centre for Business Research - Working Papers wp321, ESRC Centre for Business Research. [Downloadable!]
  21. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000. "Investor protection and corporate governance," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 3-27. [Downloadable!] (restricted)
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  22. Theodore Panayotou, 2000. "Economic Growth and the Environment," CID Working Papers 56, Center for International Development at Harvard University. [Downloadable!]
  23. Unruh, G. C. & Moomaw, W. R., 1998. "An alternative analysis of apparent EKC-type transitions," Ecological Economics, Elsevier, vol. 25(2), pages 221-229, May. [Downloadable!] (restricted)
  24. Binder, Seth & Neumayer, Eric, 2005. "Environmental pressure group strength and air pollution: An empirical analysis," Ecological Economics, Elsevier, vol. 55(4), pages 527-538, December. [Downloadable!] (restricted)
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  25. Edward L. Glaeser & Andrei Shleifer, 2002. "Legal Origins," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1193-1229, November. [Downloadable!] (restricted)
    Other versions:
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