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Green tangible investment strategies and export performance: A firm-level investigation

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  • Antonietti, Roberto
  • Marzucchi, Alberto

Abstract

In this paper we empirically investigate the relationship between investments in environmentally oriented equipment and firms' export performance. We adopt a two-stage model where we first estimate the impact of green tangible investment strategies (GTIS) on the level of productive efficiency (TFP), and then assess whether induced productivity influences the propensity and the intensity of exports. We rely on a rich firm-level dataset on Italian manufacturing. Our results show that firms with higher productivity, induced among other factors by green investments combining environmental and increased revenue objectives, achieve a higher export performance. In particular, GTIS-enhanced TFP affects the probability of exporting in foreign markets characterized by more stringent environmental regulation. Our evidence supports a ‘green-based’ firm heterogeneity argument.

Suggested Citation

  • Antonietti, Roberto & Marzucchi, Alberto, 2014. "Green tangible investment strategies and export performance: A firm-level investigation," Ecological Economics, Elsevier, vol. 108(C), pages 150-161.
    • Handle: RePEc:eee:ecolec:v:108:y:2014:i:c:p:150-161
    DOI: 10.1016/j.ecolecon.2014.10.017
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    Keywords

    Green tangible investment strategy; Total Factor Productivity; Export; Firm heterogeneity;
    All these keywords.

    JEL classification:

    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F18 - International Economics - - Trade - - - Trade and Environment

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