Do sustainability policies finance local economies?
Cristina Bernini and
Augusto Cerqua ()
MPRA Paper from University Library of Munich, Germany
We evaluate whether adopting a well-known transition management instrument in the tourism industry can support a combined goal of sustainability and economic growth. We create a detailed dataset at the municipality level and use a recently developed policy evaluation technique to investigate the causal impact of the Blue Flag program on the local economies of coastal destinations. Estimates show that this eco-label is not effective at enhancing the local economy; findings are homogeneous across destinations. This empirical result is in line with the recent theoretical literature arguing that the transition towards growing a sustainable economy is particularly complex and a single policy does not suffice.
Keywords: sustainability policy; eco-label; transition management; policy evaluation method (search for similar items in EconPapers)
JEL-codes: C23 Q56 Z18 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-env and nep-tur
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:91882
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