IDEAS home Printed from https://ideas.repec.org/a/kap/enreec/v11y1998i3p521-538.html
   My bibliography  Save this article

Environmental Financing in European Economies in Transition

Author

Listed:
  • Grzegorz Peszko
  • Tomasz Żylicz*

Abstract

The paper offers a perspective on environmental predicament of economies in transition. Emphasis is put on how these economies finance their environmental needs. It is observed that the demand for environmental financing can be affected both by environmental policy measures (such as internalization of externalities) and by other factors (such as the softness of budget constraints faced by firms). The role of subsidies – in many countries of the Central and Eastern European region provided through special purpose ‘environmental funds’ – is then scrutinized. In particular the question is asked whether such funds crowd out commercial capital from the market. Conditions are discussed that would allow the funds to play their constructive environmental roles without crowding out private financing. Copyright Kluwer Academic Publishers 1998

Suggested Citation

  • Grzegorz Peszko & Tomasz Żylicz*, 1998. "Environmental Financing in European Economies in Transition," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 11(3), pages 521-538, April.
    • Handle: RePEc:kap:enreec:v:11:y:1998:i:3:p:521-538
    DOI: 10.1023/A:1008220017910
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1023/A:1008220017910
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1023/A:1008220017910?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hughes, Gordon, 1991. "Are the Costs of Cleaning Up Eastern Europe Exaggerated? Economic Reform and the Environment," Oxford Review of Economic Policy, Oxford University Press, vol. 7(4), pages 106-136, Winter.
    2. János Kornai, 2014. "The soft budget constraint," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 64(supplemen), pages 25-79, November.
    3. Markowska, Agnieszka & Zylicz, Tomasz, 1999. "Costing an international public good: the case of the Baltic Sea," Ecological Economics, Elsevier, vol. 30(2), pages 301-316, August.
    4. Christoph Böhringer, 1996. "Fossil fuel subsidies and environmental constraints," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 8(3), pages 331-349, October.
    5. Randall Bluffstone & Bruce A. Larson (ed.), 1997. "Controlling Pollution in Transition Economies," Books, Edward Elgar Publishing, number 1123.
    6. Tomasz Żylicz, 1995. "Cost-effectiveness of air pollution abatement in Poland," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 5(2), pages 131-149, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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. 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.
    3. B.Sudhakara Reddy & Hippu Salk Kristle Nathan, 2010. "Energy Infrastructure For A High Humane And Low Carbon Future," Energy Working Papers 23023, East Asian Bureau of Economic Research.
    4. Milkana Mochurova, 2008. "Market-Based Instruments for the Protection of Water Resources in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 112-147.
    5. Stepanenko, Bohdana, 2011. "Теоретичні Основи Формування Фінансового Механізму Розвитку Зеленого Бізнесу [Theoretical Basis Of The Formation Of Green Business’ Financial Mechanism]," MPRA Paper 41127, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    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. Verbic, Miroslav & Slabe-Erker, Renata, 2009. "An econometric analysis of willingness-to-pay for sustainable development: A case study of the Volcji Potok landscape area," Ecological Economics, Elsevier, vol. 68(5), pages 1316-1328, March.
    3. Coria, Jessica & Sterner, Thomas, 2008. "Tradable Permits in Developing Countries: Evidence from Air Pollution in Santiago, Chile," RFF Working Paper Series dp-08-51, Resources for the Future.
    4. Akai, Nobuo & Sato, Motohiro, 2008. "Too big or too small? A synthetic view of the commitment problem of interregional transfers," Journal of Urban Economics, Elsevier, vol. 64(3), pages 551-559, November.
    5. Stavins, Robert, 2001. "Lessons From the American Experiment With Market-Based Environmental Policies," RFF Working Paper Series dp-01-53, Resources for the Future.
    6. Chen, Zhiyuan & Li, Yong & Zhang, Jie, 2016. "The bank–firm relationship: Helping or grabbing?," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 385-403.
    7. Mehrdad Vahabi, 2001. "The Soft Budget Constraint: A Theoretical Clarification," Post-Print hal-00629160, HAL.
    8. Lizal, L., 1999. "Does a Soft Macroeconomic Environment Induce Restructuring on the Microeconomic Level during the Transition Period? Evidence from Investment Behavior of Czech Enterprises," CERGE-EI Working Papers wp147, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    9. Shumei Gao and Mark E. Schaffer & Shumei Gao and Mark E. Schaffer, 1998. "Financial Discipline in the Enterprise Sector in Transition Countries: How Does China Compare?," William Davidson Institute Working Papers Series 124, William Davidson Institute at the University of Michigan.
    10. Peter J. Boettke & Liya Palagashvili, 2015. "Taming Leviathan," Supreme Court Economic Review, University of Chicago Press, vol. 23(1), pages 279-303.
    11. Maria Espinosa & Kamel Louhichi & Angel Perni & Pavel Ciaian, 2020. "EU‐Wide Impacts of the 2013 CAP Direct Payments Reform: A Farm‐Level Analysis," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 42(4), pages 695-715, December.
    12. Sun, Xiaoqi & Liu, Xiaojia, 2020. "Decomposition analysis of debt’s impact on China’s energy consumption," Energy Policy, Elsevier, vol. 146(C).
    13. Behrens, Axel & Wunner, Norbert, 1996. "Optimal transition paths for Eastern Europe: Lessons for labour adjustment," European Journal of Political Economy, Elsevier, vol. 12(1), pages 133-148, April.
    14. Thi Cam Tu Luong & Ann Jorissen & Ine Paeleman, 2019. "Performance Measurement for Sustainability: Does Firm Ownership Matter," Sustainability, MDPI, vol. 11(16), pages 1-35, August.
    15. International Monetary Fund, 2004. "Fiscal Policy and Debt Sustainability: Cardoso's Brazil, 1995-2002," IMF Working Papers 2004/156, International Monetary Fund.
    16. Alberto Cavaliere & Simona Scabrosetti, 2008. "Privatization And Efficiency: From Principals And Agents To Political Economy," Journal of Economic Surveys, Wiley Blackwell, vol. 22(4), pages 685-710, September.
    17. David Moroz, 2005. "Production of Scientific Knowledge and Radical Uncertainty: The Limits of the Normative Approach in Innovation Economics," European Journal of Law and Economics, Springer, vol. 20(3), pages 305-322, November.
    18. Niels Hermes & Marek Hudon, 2018. "Determinants Of The Performance Of Microfinance Institutions: A Systematic Review," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1483-1513, December.
    19. Sangeetha Gunasekar & Jayati Sarkar, 2014. "Does autonomy matter in state owned enterprises? Evidence from performance contracts in India," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2014-034, Indira Gandhi Institute of Development Research, Mumbai, India.
    20. Elofsson, Katarina & Folmer, Henk & Gren, Ing-Marie, 2003. "Management of eutrophicated coastal ecosystems: a synopsis of the literature with emphasis on theory and methodology," Ecological Economics, Elsevier, vol. 47(1), pages 1-11, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:enreec:v:11:y:1998:i:3:p:521-538. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.