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Environmental Regulation and the Spatial Distribution of Capital and Resources

Author

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  • Chiles Jr., Ted W.

    (Auburn University Montgomery)

  • Clark, Joy

    (Auburn University Montgomery)

Abstract

This paper explores the impact of the Endangered Species Act on the profits of firms in the paper and pulp industries. In 1989, the federal courts enjoined timber-cutting contracts in old-growth forest areas that might contain northern spotted owl. This action was perceived to decrease substantially the profits of firms with a high spatial concentration of mills in the Northwest. The empirical evidence does not support this hypothesis. These same firms are shown to benefit from the environmental regulation because the value of privately held timber increased in the Northwest.

Suggested Citation

  • Chiles Jr., Ted W. & Clark, Joy, 1999. "Environmental Regulation and the Spatial Distribution of Capital and Resources," The Review of Regional Studies, Southern Regional Science Association, vol. 29(1), pages 51-62, Summer.
    • Handle: RePEc:rre:publsh:v:29:y:1999:i:1:p:51-62
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    References listed on IDEAS

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    1. Brian C. Murray & David N. Wear, 1998. "Federal Timber Restrictions and Interregional Arbitrage in U.S. Lumber," Land Economics, University of Wisconsin Press, vol. 74(1), pages 76-91.
    2. Adam B. Jaffe et al., 1995. "Environmental Regulation and the Competitiveness of U.S. Manufacturing: What Does the Evidence Tell Us?," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 132-163, March.
    3. Hartman, Richard, 1976. "The Harvesting Decision When a Standing Forest Has Value," Economic Inquiry, Western Economic Association International, vol. 14(1), pages 52-58, March.
    4. Oliver E. Williamson, 1968. "Wage Rates as a Barrier to Entry: The Pennington Case in Perspective," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 82(1), pages 85-116.
    5. Addison, John T & Hirsch, Barry T, 1989. "Union Effects on Productivity, Profits, and Growth: Has the Long Run Arrived?," Journal of Labor Economics, University of Chicago Press, vol. 7(1), pages 72-105, January.
    6. Merwin W. Mitchell & Joe A. Stone, 1992. "Union Effects on Productivity: Evidence from Western U.S. Sawmills," ILR Review, Cornell University, ILR School, vol. 46(1), pages 135-145, October.
    7. Clark, Kim B, 1984. "Unionization and Firm Performance: The Impact on Profits, Growth, and Productivity," American Economic Review, American Economic Association, vol. 74(5), pages 893-919, December.
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    Cited by:

    1. Christopher Knittel & Shulamit Kahn, 2002. "The Impact of the Clean Air Act Amendments of 1990 on Electric Utilitiesand Coal Mines: Evidence from the Stock Market," Working Papers 528, University of California, Davis, Department of Economics.
    2. Nissan, Edward & Carter, George, 2002. "Ranking Regional Air and Water Environmental Degradations," The Review of Regional Studies, Southern Regional Science Association, vol. 32(1), pages 69-85, Winter/Sp.

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