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- Publisher Website: 10.1016/j.jeem.2017.08.012
- Scopus: eid_2-s2.0-85031769749
- WOS: WOS:000454975500032
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Article: Regulation, innovation, and firm selection: The porter hypothesis under monopolistic competition
Title | Regulation, innovation, and firm selection: The porter hypothesis under monopolistic competition |
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Authors | |
Keywords | Pollution Heterogeneous firms Environmental regulations Porter Hypothesis Monopolistic competition |
Issue Date | 2018 |
Publisher | Academic Press. The Journal's web site is located at http://www.elsevier.com/locate/jeem |
Citation | Journal of Environmental Economics and Management, 2018, v. 92, p. 638-658 How to Cite? |
Abstract | The Porter Hypothesis (PH) posits that well-designed environmental regulations can stimulate innovation, which may lead to efficiency gains or even profit increase in regulated firms. In this study, we revisit the PH under monopolistic competition by incorporating two important features in our model and analysis, namely, firm heterogeneity and general equilibrium. We show that the PH holds for high-capability firms, but not for low-capability firms. Heterogeneous responses exist in innovation investment, but the average industry productivity increases. We obtain an interesting finding that adds a new feature to the PH. This finding indicates that strict environmental regulations can encourage firm entry and exit, thereby improving the composition of firms in the regulated industry. |
Persistent Identifier | http://hdl.handle.net/10722/258896 |
ISSN | 2023 Impact Factor: 5.5 2023 SCImago Journal Rankings: 2.813 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Qiu, LD | - |
dc.contributor.author | Zhou, M | - |
dc.contributor.author | Wei, X | - |
dc.date.accessioned | 2018-09-03T03:57:41Z | - |
dc.date.available | 2018-09-03T03:57:41Z | - |
dc.date.issued | 2018 | - |
dc.identifier.citation | Journal of Environmental Economics and Management, 2018, v. 92, p. 638-658 | - |
dc.identifier.issn | 0095-0696 | - |
dc.identifier.uri | http://hdl.handle.net/10722/258896 | - |
dc.description.abstract | The Porter Hypothesis (PH) posits that well-designed environmental regulations can stimulate innovation, which may lead to efficiency gains or even profit increase in regulated firms. In this study, we revisit the PH under monopolistic competition by incorporating two important features in our model and analysis, namely, firm heterogeneity and general equilibrium. We show that the PH holds for high-capability firms, but not for low-capability firms. Heterogeneous responses exist in innovation investment, but the average industry productivity increases. We obtain an interesting finding that adds a new feature to the PH. This finding indicates that strict environmental regulations can encourage firm entry and exit, thereby improving the composition of firms in the regulated industry. | - |
dc.language | eng | - |
dc.publisher | Academic Press. The Journal's web site is located at http://www.elsevier.com/locate/jeem | - |
dc.relation.ispartof | Journal of Environmental Economics and Management | - |
dc.subject | Pollution | - |
dc.subject | Heterogeneous firms | - |
dc.subject | Environmental regulations | - |
dc.subject | Porter Hypothesis | - |
dc.subject | Monopolistic competition | - |
dc.title | Regulation, innovation, and firm selection: The porter hypothesis under monopolistic competition | - |
dc.type | Article | - |
dc.identifier.email | Qiu, LD: larryqiu@hku.hk | - |
dc.identifier.authority | Qiu, LD=rp01093 | - |
dc.identifier.doi | 10.1016/j.jeem.2017.08.012 | - |
dc.identifier.scopus | eid_2-s2.0-85031769749 | - |
dc.identifier.hkuros | 289338 | - |
dc.identifier.volume | 92 | - |
dc.identifier.isi | WOS:000454975500032 | - |
dc.publisher.place | United States | - |
dc.identifier.issnl | 0095-0696 | - |