The Porter Hypothesis and the Economic Consequences of Environmental Regulation : A Neo-Schumpeterian Approach - Thomas Roediger-Schluga

The Porter Hypothesis and the Economic Consequences of Environmental Regulation : A Neo-Schumpeterian Approach

By: Thomas Roediger-Schluga

Hardcover

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Combining the public choice literature on political decision making with the Neo-Schumpeterian literature on innovation, this valuable new book develops a conceptual model of how environmental regulation is designed. The author presents a novel perspective on the Porter Hypothesis, arguing that the effect of environmental regulation is too weak to induce technological change. This implies that environmental policy intervention has little, if any, economic consequences which has significant repercussions for environmental decision-making. Since radical technological advance is unpredictable, this implies that environmental regulation induces, at the very most, incremental improvements of existing designs. Moreover, due to the high political costs of disrupting existing industry structures, regulation objectives are often adjusted or the compliance costs reduced through subsidies. Due to this limited inducement effect, the author finds that environmental regulation does not produce outcomes consistent with the Porter Hypothesis, nor does it have any palpable negative economic impact. Using detailed case-study evidence, each step of his argument is skilfully illustrated. The book conc
Industry Reviews
"'The book is right on target about a much-discussed topic: innovation impacts and techno-economic consequences of environmental regulation. Its novelty lies in engaging in empirical case research of the impacts and the political regulatory design process of volatile organic compound (VOC) control in Austria. It is a valuable contribution to the literature on the Porter hypothesis, offering a model for predicting outcomes and offering recommendations for dealing with information asymmetries in the regulatory process.' - Rene Kemp, Maastricht University, The Netherlands"

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