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Schumpeterian competition and environmental R&D

Author

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  • John T. Scott

    (Department of Economics, Dartmouth College, Hanover, NH 03755-3514, USA)

Abstract

Companies' emissions-reducing R&D investments increase in response to Schumpeterian competition-R&D rivalry among large firms-in the context of evolving emissions regulation. Estimation supports a theoretical role for emissions standards: to reduce negative externalities caused by hazardous air emissions, government can set standards that cause firms to accept the uncertainty of R&D. Furthermore, the pressure of R&D competition causes firms to increase their R&D investment. The paper uses primary data about manufacturers' emissions-reducing R&D. Responses to a questionnaire-mailed to the companies in the Business Week R&D Scoreboard sample for 1993-provide the new data about R&D to reduce the toxic air emissions of chemicals targeted in Title III of the 1990 Clean Air Act. The Act stimulated R&D investments by establishing the government's commitment to develop standards-which are still evolving-for the toxic chemicals. © 1997 John Wiley & Sons, Ltd.

Suggested Citation

  • John T. Scott, 1997. "Schumpeterian competition and environmental R&D," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 18(6), pages 455-469.
    • Handle: RePEc:wly:mgtdec:v:18:y:1997:i:6:p:455-469
    DOI: 10.1002/(SICI)1099-1468(199709)18:6<455::AID-MDE847>3.0.CO;2-M
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    Cited by:

    1. John Scott, 2000. "The Directions for Technological Change: Alternative Economic Majorities and Opportunity Costs," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 17(1), pages 1-16, August.
    2. Lin, Boqiang & Wesseh, Presley K., 2020. "On the economics of carbon pricing: Insights from econometric modeling with industry-level data," Energy Economics, Elsevier, vol. 86(C).
    3. Fabrizio, Kira R. & Poczter, Sharon & Zelner, Bennet A., 2017. "Does innovation policy attract international competition? Evidence from energy storage," Research Policy, Elsevier, vol. 46(6), pages 1106-1117.
    4. Gosens, Jorrit & Lu, Yonglong, 2014. "Prospects for global market expansion of China’s wind turbine manufacturing industry," Energy Policy, Elsevier, vol. 67(C), pages 301-318.
    5. Patricia Laurens & Christian Le Bas & Stéphane Lhuillery & Antoine Schoen, 2017. "The determinants of cleaner energy innovations of the world’s largest firms: the impact of firm learning and knowledge capital," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 26(4), pages 311-333, May.
    6. Scott Marchi & James Hamilton, 2006. "Assessing the Accuracy of Self-Reported Data: an Evaluation of the Toxics Release Inventory," Journal of Risk and Uncertainty, Springer, vol. 32(1), pages 57-76, January.

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