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Legal families and environmental protection: Is there a causal relationship?

  • Di Vita, Giuseppe

In this paper we build on the analysis of La Porta et al. [La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and finance. Journal of Political Economy, 106(6), 1113-1155], to investigate the importance of legal families in explaining the dissimilar levels of environmental quality indicators among countries with different legal systems. 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 regressions analyses were performed, using as dependent variables three different kinds of pollutants (CO2, fine suspended particulates and waste), and including as an explanation some financial variables never before considered in this kind of study.

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Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 31 (2009)
Issue (Month): 5 (September)
Pages: 694-707

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Handle: RePEc:eee:jpolmo:v:31:y:2009:i:5:p:694-707
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  3. 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.
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  13. Edward L. Glaeser & Andrei Shleifer, 2001. "Legal Origins," Harvard Institute of Economic Research Working Papers 1920, Harvard - Institute of Economic Research.
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  17. 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.
  18. 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.
  19. Beck, Thorsten & Levine, Ross & Loayza, Norman, 1999. "Finance and the sources of growth," Policy Research Working Paper Series 2057, The World Bank.
  20. 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.
  21. Unruh, G. C. & Moomaw, W. R., 1998. "An alternative analysis of apparent EKC-type transitions," Ecological Economics, Elsevier, vol. 25(2), pages 221-229, May.
  22. Binder, Seth & Neumayer, Eric, 2005. "Environmental pressure group strength and air pollution: An empirical analysis," Ecological Economics, Elsevier, vol. 55(4), pages 527-538, December.
  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. Panayotou T, 1993. "Empirical tests and policy analysis of environmental degradation at different stages of economic development," ILO Working Papers 292778, International Labour Organization.
  25. Islam, N. & Vincent, J., 1999. "Unveiling the Income-Environment Relationship: An Exploration into the Determinants of Environmental Quality," Papers 701, Harvard - Institute for International Development.
  26. 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.
  27. Theodore Panayotou, 2000. "Economic Growth and the Environment," CID Working Papers 56, Center for International Development at Harvard University.
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