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Measuring environmental policy stringency: Approaches, validity, and impact on environmental innovation and energy efficiency

Marzio Galeotti (), Silvia Salini and Elena Verdolini

Energy Policy, 2020, vol. 136, issue C

Abstract: Solid tests of the impact of environmental and energy policy on important economic outcomes, such as innovation, productivity, competitiveness and energy and carbon efficiency are impaired by the lack of appropriate empirical proxies for the commitment to, and stringency of, environmental policy. We contribute to the literature by: (1) computing different indicators of environmental policy stringency, (2) testing to what extent they convey similar insights through a statistical comparison exercise, and (3) showing the implications of using one or the other indicator in two illustrative empirical applications focused on environmental innovation and energy efficiency. We conclude by highlighting the implications of our analysis for empirical research focusing on the evaluation of policy impacts, and highlight fruitful future research avenues.

Keywords: Energy policy; Environmental policy; Ranking; Environmental innovation; Energy-GDP relationship (search for similar items in EconPapers)
JEL-codes: C33 O57 Q58 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:136:y:2020:i:c:s0301421519306391

DOI: 10.1016/j.enpol.2019.111052

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