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The role of Polish environmental funds: Too generous or too restrictive?

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  • ANDERSON, GLEN D.
  • ZYLICZ, TOMASZ

Abstract

In many countries, and particularly in the economies in transition in Central and Eastern Europe, public environmental funds play an important role in financing environmental investments. These funds provide subsidized financing through grants and soft loans in response to market failures that limit environmental investors' access to capital markets or poorly account for the benefits of environmental improvements. The principal question explored in the paper is whether environmental funds are too generous or too selective in co-financing environmental projects. The authors conducted a survey of applicants whose applications to Polish environmental funds were rejected following appraisal by the funds in 1994. Applicants were contacted to determine whether they had been able to close the financing 'gap' by the end of 1995 that had resulted from the rejection of their application by the Fund. Survey results indicate that a large majority of respondents have secured substitute gap financing and proceeded with their planned investments, suggesting that the fund's assistance was not essential for these projects to be implemented. Generally, the financing gap had been closed by financing from another environmental fund, from own resources, and less frequently from the same fund (after resubmitting a modified proposal). Only in few instances have proposed projects been abandoned.

Suggested Citation

  • Anderson, Glen D. & Zylicz, Tomasz, 1999. "The role of Polish environmental funds: Too generous or too restrictive?," Environment and Development Economics, Cambridge University Press, vol. 4(4), pages 413-448, October.
    • Handle: RePEc:cup:endeec:v:4:y:1999:i:04:p:413-448_00
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    Cited by:

    1. Tokunaga, Masahiro, 2020. "Regime Change and Environmental Reform: A Systematic Review of Research on Central and Eastern Europe," CEI Working Paper Series 2019-10, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    2. Ingmar Homeyer & Axel Klaphake & Hans-Dieter Sohn, 2001. "EU accession: Negotiating “environmental dumping”?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 36(2), pages 87-97, March.
    3. Agnieszka Mazurek-Czarnecka & Ksymena Rosiek & Marcin Salamaga & Krzysztof Wąsowicz & Renata Żaba-Nieroda, 2022. "Study on Support Mechanisms for Renewable Energy Sources in Poland," Energies, MDPI, vol. 15(12), pages 1-38, June.
    4. repec:ebl:ecbull:v:17:y:2006:i:5:p:1-9 is not listed on IDEAS
    5. Stavins, Robert N., 2003. "Experience with market-based environmental policy instruments," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 1, chapter 9, pages 355-435, Elsevier.
    6. Shuichi Ohori, 2006. "Environmental tax and trade liberalization in a mixed duopoly," KIER Working Papers 622, Kyoto University, Institute of Economic Research.
    7. Shuichi Ohori, 2006. "Trade liberalization, consumption externalities and the environment: a mixed duopoly approach," Economics Bulletin, AccessEcon, vol. 17(5), pages 1-9.
    8. Shuichi Ohori, 2006. "Optimal Environmental Tax and Level of Privatization in an International Duopoly," Journal of Regulatory Economics, Springer, vol. 29(2), pages 225-233, March.

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