Opting for a Green Certificate: The Impact of Local Attitudes and Economic Conditions

Tobias Dippold (), Jan Mutl and Joachim Zietz
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Tobias Dippold: EBS Universität für Wirtschaft und Recht

Journal of Real Estate Research, 2014, vol. 36, issue 4, 435-474

Abstract: This paper examines the impact of economic conditions and local attitudes on investors’ decisions to opt for a green building certificate. The study is based on property locations in 211 counties and uses a fixed-effects estimator for a panel data set of 10,624 office buildings over 10 years. The results suggest that green building certification is not only responsive to economic conditions but also to the attitudes of the local population. Areas with well-educated people and a political preference for the Democratic Party significantly and positively influence the decision to certify buildings. Higher education levels and Democratic partisanship are associated with the environmental orientation of the population. Hence, in these locations, the population’s environmental concerns may play a key role.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (6)

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