Promoting Green or Restricting Gray? An Analysis of Green Portfolio Standards
Hiroaki Ino and
Toshihiro Matsumura ()
No 206, Discussion Paper Series from School of Economics, Kwansei Gakuin University
This study theoretically examines green portfolio standards with monetary penalties in an oligopoly market. We find that green portfolio standards are inefficient policy tools if the purpose of the government is to promote green products, whereas they attain firstbest optimality if the purpose is to restrict non-green products. Green portfolio standards may work well under the mixed aims of promoting green and restricting non-green products. Moreover, by applying the principle of our results, we highlight the inefficiency of an employment promotion program for handicapped workers in Japan.
Keywords: green industrial policy; negative externality of gray products; positive externality of green products; renewable portfolio standards; zero emission vehicle program; employment promotion program (search for similar items in EconPapers)
JEL-codes: Q58 Q48 L51 (search for similar items in EconPapers)
Pages: 10 pages
New Economics Papers: this item is included in nep-ene, nep-env and nep-reg
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Journal Article: Promoting green or restricting gray? An analysis of green portfolio standards (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:kgu:wpaper:206
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