Determinants of Environmental Expenditure and Investment: Evidence from Sweden
Jūratė Jaraite-Kažukauskė,
Andrius Kazukauskas and
Tommy Lundgren ()
Additional contact information
Tommy Lundgren: CERE, Centre for Environmental and Resource Economics, Postal: Dept of Forest Economics, Swedish University of Agricultural Sciences, S-901 83 Umeå, Sweden, http://www.cere.se
No 2012:7, CERE Working Papers from CERE - the Center for Environmental and Resource Economics
Abstract:
This paper provides new evidence on the determinants of environmental expenditure and investment. Also, by employing the Heckman selection models, we study how environmental expenditure and investment by Swedish industrial firms responded to the national and international policies directed to mitigate air pollution during the period 1999 through 2008. We find that firms that use carbon intensive fuels such as oil and gas are more likely to spend to and invest in the environment. Larger, more profitable and more energy intensive firms are more likely to incur environmental expenditure/investment. Overall, an important finding of our econometric analysis is that environmental regulation both on the national and international levels are highly relevant motivations for environmental expenditure and investment.
Keywords: environmental expenditure and investment; environmental policy; EU ETS; panel data (search for similar items in EconPapers)
JEL-codes: C23 Q52 Q58 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2012-02-17
New Economics Papers: this item is included in nep-ene, nep-env, nep-eur and nep-res
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Citations: View citations in EconPapers (2)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:slucer:2012_007
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