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| Author: | Kerr, S. Newell, R.G. |
| Title: | Policy-induced technology adoption: evidence from the U.S. lead phasedown |
| Journal: | Journal of Industrial Economics
2003 : JUN, VOL. 51:2, p. 317-343 |
| Index terms: | Petroleum industry Pollution charges Pollution control Technology USA |
| Language: | eng |
| Abstract: | It is suggested in theory that economic instruments, such as pollution taxes or tradable permits, can provide more efficient technology adoption incentives than conventional regulatory standards. This issue is explored for an important industry undergoing dramatic decreases in allowed pollution - the U.S. petroleum industry's phasedown of lead in gasoline. A duration model applied to a panel of refiners from 1971-1995 is used and it is found that the pattern of technology adoption is consistent with an economic response to market incentives, plant characteristics, and alternative policies. |
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