| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6036 |
| 来源ID | Working Paper 6036 |
| Environmental Regulation, Investment Timing, and Technology Choice | |
| Wayne B. Gray; Ronald J. Shadbegian | |
| 发表日期 | 1997-05-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | We began this project interested in collecting real-world' insight about how environmental regulation affects the paper industry. Based on conversations with people in the industry and visits to paper mills, we formulated several hypotheses related to technology choice in new mills and the investment decision for existing plants. We tested these hypotheses using technology choice data for 686 paper mills and annual investment data for 116 mills. Technology choice is influenced by environmental regulation. New mills in states with strict environmental regulations are less likely to employ the more polluting technologies involving pulping. Differences between air and water pollution regulations also emerge, with the dirtiest technology in each medium avoiding those states with the strictest regulations. The magnitudes of the impacts are sizable, with a one standard deviation increase in stringency associated with several percentage point reductions in the probability of choosing a dirty technology. State regulatory stringency and plant technology have little or no effect on annual investment spending at existing plants. However, pollution abatement investment is significantly related to productive (non-abatement) investment. Plants with high abatement investment spend less on productive capital. The magnitude of the impact corresponds to nearly complete crowding out of productive investment by abatement investment. Examining investment timing, we find that abatement and productive investment tend to be concentrated in the same years, consistent with the high cost of shutting down a paper mill for renovations. |
| 主题 | Environmental and Resource Economics ; Renewable Resources ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w6036 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563541 |
| 推荐引用方式 GB/T 7714 | Wayne B. Gray,Ronald J. Shadbegian. Environmental Regulation, Investment Timing, and Technology Choice. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6036.pdf（968KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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