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Regulatory ‘balancing’ and the efficiency of green R&D

  • Anthony Heyes
  • Catherine Liston-Heyes

We identify and analyse several dynamic implications of setting environmental standards such as to ‘balance’ marginal costs and benefits. The adoption of such a regulatory approach is shown to effect (i) the speed of improvement of abatement technologies; (ii) the ‘direction’ (in a sense to be defined) of that improvement; (iii) its source and the distribution of the rents from it; and (iv) the rate of development of defensive (averting) technologies. Existing views are thoroughly synthesised in the context of a simple diagrammatic model, several new results are derived and at least one conventional wisdom questioned. The message of the analysis for legislators and regulators is that cost-benefit balancing should be done with care. Copyright Kluwer Academic Publishers 1997

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Article provided by Springer & European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

Volume (Year): 9 (1997)
Issue (Month): 4 (June)
Pages: 493-507

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Handle: RePEc:kap:enreec:v:9:y:1997:i:4:p:493-507
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  1. Milliman, Scott R. & Prince, Raymond, 1989. "Firm incentives to promote technological change in pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 247-265, November.
  2. Luken, Ralph A & Fraas, Arthur G, 1993. "The U.S. Regulatory Analysis Framework: A Review," Oxford Review of Economic Policy, Oxford University Press, vol. 9(4), pages 96-111, Winter.
  3. McCain, Roger A, 1978. "Endogenous Bias in Technical Progress and Environmental Policy," American Economic Review, American Economic Association, vol. 68(4), pages 538-46, September.
  4. Yao, Dennis A., 1988. "Strategic responses to automobile emissions control: A game-theoretic analysis," Journal of Environmental Economics and Management, Elsevier, vol. 15(4), pages 419-438, December.
  5. Downing, Paul B. & White, Lawrence J., 1986. "Innovation in pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 13(1), pages 18-29, March.
  6. Susse Georg & Inge Røpke & Ulrik Jørgensen, 1992. "Clean technology — Innovation and environmental regulation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(6), pages 533-550, November.
  7. Pearce, David & Brisson, Inger, 1993. "BATNEEC: The Economics of Technology-Based Environmental Standards with a UK Case Illustration," Oxford Review of Economic Policy, Oxford University Press, vol. 9(4), pages 24-40, Winter.
  8. Mendelsohn, Robert, 1984. "Endogenous technical change and environmental regulation," Journal of Environmental Economics and Management, Elsevier, vol. 11(3), pages 202-207, September.
  9. Bartik, Timothy J., 1988. "Evaluating the benefits of non-marginal reductions in pollution using information on defensive expenditures," Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 111-127, March.
  10. Murdoch, James C. & Thayer, Mark A., 1990. "The benefits of reducing the incidence of nonmelanoma skin cancers: A defensive expenditures approach," Journal of Environmental Economics and Management, Elsevier, vol. 18(2), pages 107-119, March.
  11. René Kemp & Xander Olsthoorn & Frans Oosterhuis & Harmen Verbruggen, 1992. "Supply and demand factors of Cleaner technologies: Some empirical evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(6), pages 615-634, November.
  12. Laffont, Jean-Jacques & Tirole, Jean, 1994. "A Note on Environmental Innovation," IDEI Working Papers 41, Institut d'Économie Industrielle (IDEI), Toulouse.
  13. Harford, Jon D., 1984. "Averting behavior and the benefits of reduced soiling," Journal of Environmental Economics and Management, Elsevier, vol. 11(3), pages 296-302, September.
  14. Brown, Deborah & Smith, Martha, 1984. "Crop substitution in the estimation of economic benefits due to ozone reduction," Journal of Environmental Economics and Management, Elsevier, vol. 11(4), pages 347-362, December.
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