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Legal Families and Environmental Protection: Is there a Causal Relationship?

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  • Giuseppe Di Vita

    (University of Catania)

Abstract

In this paper we build up the analysis of La Porta et al. (1998), to investigate the importance of legal families in explaining the variations in pollution emissions in different countries. 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 regression analyses were performed using as dependent variables three different kinds of pollutants (CO2, fine suspended particulates and waste), including as an explanation some financial variables never before considered in this kind of study.

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Bibliographic Info

Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2007.78.

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Date of creation: Jul 2007
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Handle: RePEc:fem:femwpa:2007.78

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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. Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, . "What Works in Securities Laws?," Working Paper 19491, Harvard University OpenScholar.
  2. Panayotou T, 1993. "Empirical tests and policy analysis of environmental degradation at different stages of economic development," ILO Working Papers 292778, International Labour Organization.
  3. 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.
  4. La Porta, Rafael & Lopez-de-Silanes, Florencio & Schleifer, Andrei & Vishny, Robert, 2001. "Investor Protection and Corporate Governance," Working Paper Series rwp01-017, Harvard University, John F. Kennedy School of Government.
  5. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 1998. "Law and Finance," Scholarly Articles 3451310, Harvard University Department of Economics.
  6. M. Galeotti & A. Lanza, 1999. "Desperately seeking (environmental) Kuznets," Working Paper CRENoS 199901, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  7. 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.
  8. 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.
  9. 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.
  10. 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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  14. 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.
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  17. 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.
  18. Djankov, Simeon & McLiesh, Caralee & Shleifer, Andrei, 2007. "Private credit in 129 countries," Journal of Financial Economics, Elsevier, vol. 84(2), pages 299-329, May.
  19. 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.
  20. Shafik, Nemat, 1994. "Economic Development and Environmental Quality: An Econometric Analysis," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 757-73, Supplemen.
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  22. 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.
  23. 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.
  24. Seth Binder & Eric Neumayer, 2003. "Environmental Pressure Group Strength and Air Pollution: An Empirical Analysis," Others 0312003, EconWPA, revised 25 Oct 2004.
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  27. 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.
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Citations

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Cited by:
  1. 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.
  2. Antoci, Angelo & Borghesi, Simone & Russu, Paolo, 2011. "Environmental protection mechanisms and technological dynamics," MPRA Paper 36597, University Library of Munich, Germany.
  3. Horváthová, Eva, 2010. "Does environmental performance affect financial performance? A meta-analysis," Ecological Economics, Elsevier, vol. 70(1), pages 52-59, November.

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