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| Tekijä: | Fullerton, D. Kim, S-R. |
| Otsikko: | Environmental investment and policy with distortionary taxes, and endogenous growth |
| Lehti: | Journal of Environmental Economics and Management
2008 : SEP, VOL. 56:2, p. 141-154 |
| Asiasana: | growth pollution income tax environmental policy |
| Kieli: | eng |
| Tiivistelmä: | Recent studies examine public R&D spending affecting abatement knowledge and endogenous growth, distortionary taxes affecting capital formation, pollution taxes affecting environmental degradation and regeneration restoring natural capital. The model presented in this paper combines all those elements. The combination affects prior results. It focuses on two parameters that are the need for distorting taxes and productivity of abatement knowledge relative to pollution. The study reveals five results:(1)These two extensions can reverse prior findings that pollution tax revenue is always enough to pay for public R&D (2)Tax distortions and externalities alter prior to findings that the ratio of public to private capital depends only on output elasticities (3)Dynamics affect prior static findings about other public spending "crowding out" environmental public goods (4)A greater need for public spending can lead to greater increases in distorting taxes or pollution taxes (5)Greater environmental regulation can mean growth is higher or lower, even if welfare is higher. |
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