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How Green Should Environmental Regulators Be?

Author

Listed:
  • Sandeep Kapur

    (Department of Economics, Mathematics & Statistics, Birkbeck)

  • Anthony Heyes

    (Royal Holloway, University of London)

Abstract

The extent to which environmental regulatory institutions are either 'green' or 'brown' impacts not just the intensity of regulation at any moment, but also the incentives for the development of new pollution-control technologies. We set up a strategic model of R&D in which a polluter can deploy technologies developed in-house, or license technologies developed by specialist outsiders. Polluters exert R&D effort and may even develop redundant technologies to improve the terms on which they procure technology from outside. We find that, while regulatory bias has an ambiguous impact on the best-available technology, strategic delegation to systematically biased regulators can improve social welfare.

Suggested Citation

  • Sandeep Kapur & Anthony Heyes, 2010. "How Green Should Environmental Regulators Be?," Birkbeck Working Papers in Economics and Finance 1016, Birkbeck, Department of Economics, Mathematics & Statistics.
    • Handle: RePEc:bbk:bbkefp:1016
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    File URL: https://eprints.bbk.ac.uk/id/eprint/7520
    File Function: First version, 2010
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