Environmental regulation and productivity: testing the porter hypothesis |
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Authors: | Paul Lanoie Michel Patry Richard Lajeunesse |
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Institution: | 1. école des Hautes études Commerciales, 3000 C?te Sainte-Catherine, Montreal, Canada, H3T 2A7 2. CIRANO, Montreal, Canada
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Abstract: | Abstract This paper provides an empirical analysis of the relationship between the stringency of environmental regulation and total
factor productivity (TFP) growth in the Quebec manufacturing sector. This allows us to investigate more fully the Porter hypothesis
in three directions. First, the dynamic aspect of the hypothesis is captured through the use of lagged regulatory variables.
Second, we argue that the hypothesis is more relevant for more polluting sectors. Third, we argue that the hypothesis is more
relevant for sectors which are more exposed to international competition. Our empirical results suggest that: (1) the contemporaneous
impact of environmental regulation on productivity is negative; (2) the opposite result is observed with lagged regulatory
variables, which is consistent with Michel Porter’s conjecture; and (3) this effect is stronger in a subgroup of industries
which are more exposed to international competition.
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Keywords: | Porter hypothesis Environmental regulation Productivity |
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