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The effect of environmental regulations: a restricted cost function for Korean manufacturing industries

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  • LEE, MYUNGHUN

Abstract

Environmental conservation requires society to consider the trade-off between allocating resources to productive activities and pollution control activities. Therefore, it is informative to measure the effect of environmental regulations on firms' productivity. This paper attempts to estimate the impact of environmental regulations on Korean manufacturing industries. Despite being key inputs in the manufacturing process, raw materials have often been excluded from the cost function due to the lack of price data. A restricted cost function is used to improve the reliability of parameter estimates. Empirical results indicate that environmental regulations caused a 12 percent decline in the average annual rate of productivity growth over the period 1982–93.

Suggested Citation

  • Lee, Myunghun, 2007. "The effect of environmental regulations: a restricted cost function for Korean manufacturing industries," Environment and Development Economics, Cambridge University Press, vol. 12(1), pages 91-104, February.
    • Handle: RePEc:cup:endeec:v:12:y:2007:i:01:p:91-104_00
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    Cited by:

    1. Zhao, Yu & Zhong, Honglin & Kong, Fanbin & Zhang, Ning, 2023. "Can China achieve carbon neutrality without power shortage? A substitutability perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 182(C).
    2. Lee, Myunghun, 2008. "Environmental regulations and market power: The case of the Korean manufacturing industries," Ecological Economics, Elsevier, vol. 68(1-2), pages 205-209, December.
    3. Chun Jiang & Qiang Fu, 2019. "A Win-Win Outcome between Corporate Environmental Performance and Corporate Value: From the Perspective of Stakeholders," Sustainability, MDPI, vol. 11(3), pages 1-18, February.
    4. Bongsuk Sung & Woo-Yong Song, 2021. "Are Political Factors More Relevant Than Economic Factors in Firm-Level Renewable Energy Technology Export? Evidence from Path Analysis," Sustainability, MDPI, vol. 13(16), pages 1-16, August.
    5. Yang, Zhenbing & Shao, Shuai & Yang, Lili & Miao, Zhuang, 2018. "Improvement pathway of energy consumption structure in China's industrial sector: From the perspective of directed technical change," Energy Economics, Elsevier, vol. 72(C), pages 166-176.
    6. Yanchao Feng & Xiaohong Wang & Wenchao Du & Jun Liu, 2018. "Effects of Air Pollution Control on Urban Development Quality in Chinese Cities Based on Spatial Durbin Model," IJERPH, MDPI, vol. 15(12), pages 1-21, December.
    7. Douglas A. Carr, 2011. "The Intergovernmental Fiscal Effects of the Clean Air Act," Public Finance Review, , vol. 39(6), pages 810-830, November.
    8. Maohui Ren & Tao Zhou & Di Wang & Chenxi Wang, 2023. "Does Environmental Regulation Promote the Infrastructure Investment Efficiency? Analysis Based on the Spatial Effects," IJERPH, MDPI, vol. 20(4), pages 1-24, February.

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