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Title: Abatement R&D, market imperfections, and environmental policy in an endogenous growth model
Authors: 賴景昌
Chu, Hsun
Lai, Ching-chong
Contributors: 經濟學系
Keywords: Private abatement R&D;Market imperfections;Endogenous growth
Date: 2014-04
Issue Date: 2017-08-15 17:01:59 (UTC+8)
Abstract: We develop an endogenous growth model featuring environmental externalities, abatement R&D, and market imperfections. We compare the economic performances under three distinct regimes that encompass public abatement, private abatement without tax recycling, and private abatement with tax recycling. It is found that the benefit arising from private abatement will be larger if the degree of the firms' monopoly power is greater. With a reasonably high degree of monopoly power, a mixed abatement policy by which the government recycles environmental tax revenues to subsidize the private abatement R&D is a plausible way of reaching the highest growth rate and welfare. © 2014 Elsevier B.V.
Relation: Journal of Economic Dynamics and Control, 41, 20-37
Data Type: article
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