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The effect of deregulation on environmental research by electric utilities

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  • Paroma Sanyal

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    Abstract

    This paper analyzes the impact of deregulation and restructuring on public-interest environmental research conducted by electric utilities in the US from 1990 to 2001. I find that deregulation has had a substantial negative impact on such expenditures, which have declined by 40%. However, restructuring has had no significant impact. In addition, the 1990 Clear Air Act Amendments have adversely affected such expenditures, contrary to the positive impact these regulations had on pollution abatement R&D as shown in the literature. Results also suggest that state and firm characteristics and regulator preferences play a strong role in the conduct of such research. Copyright Springer Science+Business Media, LLC 2007

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    File URL: http://hdl.handle.net/10.1007/s11149-007-9023-2
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Regulatory Economics.

    Volume (Year): 31 (2007)
    Issue (Month): 3 (June)
    Pages: 335-353

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    Handle: RePEc:kap:regeco:v:31:y:2007:i:3:p:335-353

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    Web page: http://www.springerlink.com/link.asp?id=100298

    Related research

    Keywords: Electricity deregulation; Environmental R&D; Clean Air Act; O32; L94; L51;

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    1. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107 Elsevier.
    2. Kennedy, Peter E, 1981. "Estimation with Correctly Interpreted Dummy Variables in Semilogarithmic Equations [The Interpretation of Dummy Variables in Semilogarithmic Equations]," American Economic Review, American Economic Association, vol. 71(4), pages 801, September.
    3. Stephen J. Decanio & William E. Watkins, 1998. "Investment In Energy Efficiency: Do The Characteristics Of Firms Matter?," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 95-107, February.
    4. Blumstein, Carl & Bushnell, James, 1994. "A guide to the blue book: Issues in California's electric industry restructuring and reform," The Electricity Journal, Elsevier, vol. 7(7), pages 18-29, September.
    5. Raghuram G. Rajan & Luigi Zingales, 1994. "What Do We Know About Capital Structure? Some Evidence from International Data," NBER Working Papers 4875, National Bureau of Economic Research, Inc.
    6. Seema Arora & Timothy N. Cason, 1999. "Do Community Characteristics Influence Environmental Outcomes? Evidence from the Toxics Release Inventory," Southern Economic Journal, Southern Economic Association, vol. 65(4), pages 691-716, April.
    7. Adam B. Jaffe & Karen Palmer, 1996. "Environmental Regulation and Innovation: A Panel Data Study," NBER Working Papers 5545, National Bureau of Economic Research, Inc.
    8. Adam Jaffe & Richard Newell & Robert Stavins, 2002. "Environmental Policy and Technological Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 41-70, June.
    9. Gollop, Frank M & Roberts, Mark J, 1983. "Environmental Regulations and Productivity Growth: The Case of Fossil-Fueled Electric Power Generation," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 654-74, August.
    10. Bushnell, James & Wolfram, Catherine, 2008. "Electricity Markets," Staff General Research Papers 31547, Iowa State University, Department of Economics.
    11. Lunn, John E, 1986. "An Empirical Analysis of Process and Product Patenting: A Simultaneous Equation Framework," Journal of Industrial Economics, Wiley Blackwell, vol. 34(3), pages 319-30, March.
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    Cited by:
    1. Evens Salies & Lionel Nesta, 2010. "Libéralisation et dépôts de brevets verts des utilités électriques en Europe," Documents de Travail de l'OFCE 2010-21, Observatoire Francais des Conjonctures Economiques (OFCE).
    2. Carley, Sanya, 2011. "Historical analysis of U.S. electricity markets: Reassessing carbon lock-in," Energy Policy, Elsevier, vol. 39(2), pages 720-732, February.
    3. Schmitt, Stephan & Kucsera, Denes, 2013. "The Impact of the Regulatory Reform Process on R&D Investment of European Electricity Utilities," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 80035, Verein für Socialpolitik / German Economic Association.
    4. Evens Salies, 2009. "A test of the Schumpeterian hypothesis in a panel Of European electric utilities," Documents de Travail de l'OFCE 2009-19, Observatoire Francais des Conjonctures Economiques (OFCE).
    5. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09hc033ieaj is not listed on IDEAS
    6. Maria Teresa Costa-Campi & Néstor Duch-Brown & José García-Quevedo, 2013. "R&D drivers and obstacles to innovation in the energy industry," Working Papers 2013/23, Institut d'Economia de Barcelona (IEB).
    7. Nesta, Lionel & Vona, Francesco & Nicolli, Francesco, 2014. "Environmental policies, competition and innovation in renewable energy," Journal of Environmental Economics and Management, Elsevier, vol. 67(3), pages 396-411.
    8. Sterlacchini, Alessandro, 2010. "Energy R&D in private and state-owned utilities: an analysis of the major world electric companies," MPRA Paper 20972, University Library of Munich, Germany.
    9. del Río González, Pablo, 2009. "The empirical analysis of the determinants for environmental technological change: A research agenda," Ecological Economics, Elsevier, vol. 68(3), pages 861-878, January.
    10. David Popp & Richard G. Newell & Adam B. Jaffe, 2009. "Energy, the Environment, and Technological Change," NBER Working Papers 14832, National Bureau of Economic Research, Inc.

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