the action mechanism analysis of environmental pressures on the development of environmentally friendly technologies using a neo schumperian model in order to analyze the action mechanism of environmental pressures on the development of environmentally friendly technologies efts this paper constructs a neo schumpeterian simulation model containing firms production pricing pollution abatement investment environmental r d entry exit decision making and consumer choice behavior the objective of this paper is to investigate the influence of consumer demand preferences and environmental policies on firms environmental investment decision making as well as the development of eft results showed that consumers prefer product price a market based instrument mbi combined with an information oriented instrument ioi can promote the development of eft while mbi applied alone will reduce environmental investment under scenarios that consumers prefer product quality a command and control environmental policy cac can promote the development of eft to a greater extent but it inhibits environmental investment and damages the average profit rate of profit of the industry if consumers prefer environmental performance of firms cac or ioi is advantageous to the change of eft however in such a case environmental investment and consumer utility are reduced

day of the week effects and asset returns the number of empirical studies using daily stock returns is rapidly increasing researchers generally assume that the distribution of stock returns is identical for all days of the week a convenient statistical assumption but not a necessary condition of market equilibrium nevertheless there are reasons to suspect that the distribution of returns may vary according to the day of the week the most obvious is the impact of weekends on monday s return since monday s return is calculated over three instead of one calender day the mean and variance may well be higher on monday compared with any other daily return perhaps three times as large previous research has examined the daily distribution of stock returns for a monday effect while fama 1965 does not compare daily mean returns he does report that monday s variance is about 20o greater than other daily returns with a traditional distributional assumption regarding the returns on a financial asset specifies that the expected returns are identical for all days of the week contrary to this plausible assumption this paper discovers that the expected returns on common stocks and treasury bills are not constant across days of the week the most notable evidence is for monday s returns where the mean is unusually low or even negative several explanations of the results are investigated but none proves satisfactory aside from documenting significant day of the week effects the implications of the results for tests of market efficiency are examined while market adjusted returns continue to exhibit day of the week effects these effects are no longer concentrated on monday during the last year we have had many conversations with our colleagues throughout the professions we are particularly thankful to the participants at sessions of the western and american finance associations where preliminary versions of this paper were presented special thanks are due to gene fama gailen hite jon ingersoll robert jarrow merton miller clifford smith and rex thompson the expert research assistance of frank rabinovitch and youngsup yun is gratefully acknowledged 1 the list of papers using daily stock returns is too long to name recent examples include charest 1978 dodd 1980 banz 1981 and reinganum 1981

the effect of contemporaneous reserve accounting on the market for federal funds abstract this paper evaluates the effect of the transition from lagged to contemporaneous reserve accounting for the determination of bank reserve requirements through its impact on the market for federal funds the results indicate that increased target reserve uncertainty resulting from the implementation of the contemporaneous reserve accounting system cra caused an initial increase in intraday federal funds rate variance and daily interest rate differences however subsequent to a learning period intraday variance appears to be less pronounced and daily differentials appear to be narrower than under the previously used lagged reserve accounting system lra these results are attributed to the lengthening of the accounting period from one to two weeks therefore while not costless the new system does not appear to have seriously disrupted the federal funds market

political partisanship and welfare state reform in advanced industrial societies in this article we evaluate two claims made in recent studies of the welfare states of advanced industrial societies first that welfare states have remained quite resilient in the face of demands for retrenchment and second that partisan politics have ceased to play a decisive role in their evolution addressing the first claim we present analysis from a new data set on unemployment insurance and sickness benefit replacement rates for 18 countries for the years 1975 99 we find considerably more evidence of welfare retrenchment during the last two decades than do recent cross national studies second we examine the end of partisanship claim by estimating the effects of government partisanship on changes in income replacement rates in sickness and unemployment programs our results suggest that contrary to claims that partisanship has little impact on welfare state commitments traditional partisanship continues to have a considerable effect on welfare state entitlements in the era of retrenchment

stimulating different types of eco innovation in the uk government policies and firm motivations in this paper we adopt a recent oecd framework and examine the role of external policy tools and internal firm specific factors for stimulating three different types of eco innovations that range on a spectrum of lower to higher technological and environmental impacts end of pipeline pollution control technologies integrated cleaner production technologies and environmental r d using a novel firm level dataset from a defra survey we estimate a tobit model which provides empirical evidence showing that these eco innovations are motivated by different external policy tools and internal firm specific factors our findings indicate that end of pipeline technologies and integrated cleaner production technologies are mainly driven by equipment upgrade motives with a view of improving efficiency while environmental regulations are effective in stimulating the end of pipeline technologies and environmental r d interestingly alongside government induced regulations we find that market factors mainly motivated by cost savings are effective in driving environmental r d finally iso14001 certification is effective in strengthening the positive impact of environmental management systems on both end of pipeline technologies and environmental r d while csr policies have no significant impact on motivating any of the eco innovations

environmental policies and innovation a knowledge based perspective on cooperative approaches the purpose of this article is to analyse to growing interest in the field of the environment for new cooperative approcahes that make use of negotiated instruments such as voluntary agreements using an interpretation framework that puts the emphasis on collective learning and monitoring devices we highlight the value of this type of approach in situations of great uncertainty where a coordinated process of innovation is required to achieve ambitious environmental targets the implementation of this theoretical approach in the end of life vehicles elv case which has been the subject of several voluntary agreements in europe offers a fuller understanding of the characteristics and driving forces of the collective innovation process in action as well as the obstacles that have still to be overcome in particular we explain why monitoring of innovation by the authorities focusing on coordination mechanisms is a crucial issue on which further research should be carried out

firm incentives to promote technological change in pollution control reply abstract the process of technological change in pollution control is broken into three basic steps innovation diffusion and optimal agency response firm incentives to promote these steps are then examined under five regulatory regimes direct controls emission subsidies emission taxes free marketable permits and auctioned marketable permits on a relative basis emission taxes and auctioned permits provide the highest firm incentives to promote technological change at times free permits generate lower incentives direct controls which are common regulatory tools usually provide the lowest relative firm incentives to promote technological change

inter governmental institutions as promoters of energy policy diffusion in a federal setting this article is about diffusion processes behind the innovation of sub national energy policy measures in a federal system typically for the federal political system in switzerland the elements of the energy policy field are shaped by the principle of subsidiarity the aim is that cantons promote innovative problem solutions and regionally adapted implementation for this reason policy differences between cantons are large and create a need for coordination more concretely i will analyze the impact of inter cantonal institutions on different innovations in the field of energy policy the research question is approached with an event history analysis on three different innovative measures in the swiss cantons from 1990 to 2007 a more comprehensive picture of diffusion in one policy field is drawn with this approach the main contribution of this paper is the finding that intergovernmental institutions promote diffusion in one policy field only for measures with certain characteristics the internal determinants are therefore not a sufficient explanation

tax policy in an era of internationalization explaining the spread of neoliberalism i offer an explanation for the widespread diffusion of neoliberal tax policies in the developed democracies after accounting for the policy influences of commonly experienced domestic and international forces i consider several plausible paths of diffusion of neoliberal tax structure my central argument is that the highly visible 1980s market conforming tax reform in the united states should be especially important in shaping subsequent tax policies in other polities there are substantial reasons to believe however that domestic political and institutional forces will shape policymaker assessment of the benefits and costs of neoliberal reforms the strength of right parties and the degree to which the median voter has moved right should condition adoption of neoliberal tax policy the institutions of national and sector coordinated capitalism should also slow the enactment of neoliberal tax reforms i assess these arguments with empirical models of 1981 98 tax rates on capital in sixteen nations i find that changes in u s tax policy influence subsequent reforms in other polities in the long term all nations move toward the u s neoliberal tax structure analysis also shows however that the short term responsiveness to u s tax reforms is notably greater where uncoordinated market institutions are dominant theory and extensive qualitative and quantitative evidence indicate that pressures to compete for mobile assets as balanced against the economic and political costs of adoption anchor the process of diffusion of neoliberal tax policy there is little evidence for the view that systematic policy learning or social emulation drove tax policy diffusion earlier versions of this article were presented at the center for european studies and weatherhead center for international affairs harvard university center for international studies ucla and yale university as well as the 2002 annual meetings of the american political science association an earlier version was published as minda de gunzburg center for european studies harvard university working paper 120 i thank alex hicks rob franzese torben iversen andy martin cathie jo martin participants in the yale ucla and harvard conferences especially geoffrey garrett helen milner dennis quinn and beth simmons and two anonymous referees and the editors of international organization for helpful comments i also gratefully acknowledge the contribution of sven steinmo that comes by way of our past collaborative work on tax policy

what are the determinants of investment in environmental r d to face the challenges posed by climate change environmental rd yet investment in environmental r d remains below the social optimum the aim of this paper is to analyse the determinants of investment in environmental innovation and to detect the differences if any with the determinants of investment in general innovation in addition this paper examines the relationship between environmental innovation r d expenditure and a range of policy instruments including environmental regulation and other policy measures including r d subsidies and environmental taxes the empirical analysis is carried out for 22 manufacturing sectors in spain for the period 2008 2013 to overcome problems of data availability we construct a comprehensive database from different surveys the main implications from our results are 1 managerial strategy appears as a relevant driver of environmental r d investments 2 the establishment of a policy mix between environmental energy and technological regulatory measures is recommended 3 the promotion of self regulation through actions that encourage companies to follow a policy that affects their energy efficiency and is environmentally friendly

who learns from what in policy diffusion processes the idea that policy makers in different states or countries may learn from one another has fascinated scholars for a long time but little systematic evidence has been produced so far this article improves our understanding of this elusive argument by distinguishing between the policy and political consequences of reforms and by emphasizing the conditional nature of learning processes using a directed dyadic approach and multilevel methods the analysis of unemployment benefits retrenchment in oecd countries demonstrates that policy makers learn selectively from the experience of others right governments tend to be more sensitive to information on the electoral consequences of reforms while left governments are more likely to be influenced by their policy effects

environmental policy incentives to adopt advanced abatement technology abstract we investigate incentives through environmental policy instruments to adopt advanced abatement technology first we study the case where the regulator makes long term commitments to policy levels and does not anticipate arrival of new technology we show that taxes provide stronger incentives than permits auctioned and free permits offer identical incentives and standards may give stronger incentives than permits second we investigate scenarios where the regulator anticipates new technologies we show that with taxes and permits the regulator can induce first best outcomes if he moves after firms have invested whereas this does not always hold if he moves first

barriers to product return management in automotive manufacturing firms in malaysia the increasing of global warming and depletion of natural resources has become a concern for society government and industry there is a growing importance on recovery of used materials and products amongst industry players the malaysian government has conducted many green campaigns and provided incentives for some green practices however the adoption of product return and recovery management is still low amongst automotive manufacturers therefore it is important to understand the obstacles towards product return adoption so that the countermeasures can be thought of to overcome this situation the objective of this paper is to investigate the barriers of product return management amongst automotive manufacturing firms in malaysia a total of 228 automotive manufacturers and assemblers were identified as the sampling frame which was selected based on the census sampling method due to the limited sample size of the study the data was analysed using the partial least squares pls with the measurement model had shown sufficient model fit and the structural model revealed that the data supported the hypothesised model the large effect size and higher than zero values of the predictive capabilities imply that the model has sufficient variance explained for the predictive capability of the hypotheses testing of the study based on the results this study has found that the resource barrier has a significant effect on the level of adoption of product returns specifically the resource barrier and the extent of the manufacturing return adoption were positively related 0 361 p 0 01 resource barrier and the extent of the distribution returns 0 252 p 0 05 and resource barrier and the extent of the customer returns 0 333 p 0 01 the result reflects that automotive manufacturers have a lack of resources to afford the product return implementation as a matter of fact high initial investments in terms of finances human resources and time are required for the product return adoption other variables of the study such as the attitudinal and perception barrier information barrier and technical barrier were found to be insignificant with the adoption of product return management as a conclusion this study discovered that the resource barrier was the major obstacle that impeded the automotive manufacturers in malaysia from adopting the product return management the outcome is expected to help policy makers manufacturers as well as stakeholders in setting appropriate policies and strategies to improve the product return and recovery management adoption

tightening environmental standards the benefit cost or the no cost paradigm ms ff ichael porter and claas van der linde have written a paper that is interesting and to us at least somewhat astonishing it is a defense of environmental regulation indeed an invitation to more stringent regulation that makes essentially no reference to the social benefits of such regulation this approach contrasts starkly with the methods that economists and other policy analysts have traditionally used when assessing environmental or other regulatory programs the traditional approach consists of comparing the beneficial effects of regulation with the costs that must be borne to secure these benefits for environmental regulation the social benefits include the reductions in morbidity or premature mortality that can accompany cleaner air the enhanced recreational opportunities that can result from water quality improvements the increased land values that might attend the cleanup of a hazardous waste site the enhanced vitality of aquatic ecosystems that might follow reductions in agricultural pesticide use or any of the other potentially significant benefits associated with tighter standards from this benefit cost approach emerges the standard tradeoff discussed in virtually every economics textbook porter and van der linde deny the validity of this approach to the analysis of environmental regulation claiming it to be an artifact of what they see as a static mindset in their view economists have failed to appreciate the capacity of

toward a new conception of the environment competitiveness relationship accepting a fixed trade off between environmental regulation and competitiveness unnecessarily raises costs and slows down environmental progress studies finding high environmental compliance costs have traditionally focused on static cost impacts ignoring any offsetting productivity benefits from innovation they typically overestimated compliance costs neglected innovation offsets and disregarded the affected industry s initial competitiveness rather than simply adding to cost properly crafted environmental standards can trigger innovation offsets allowing companies to improve their resource productivity shifting the debate from pollution control to pollution prevention was a step forward it is now necessary to make the next step and focus on resource productivity

a resource based perspective on corporate environmental performance and profitability drawing on the resource based view of the firm we posited that environmental performance and economic performance are positively linked and that industry growth moderates the relationship with the returns to environmental performance higher in high growth industries we tested these hypotheses with an analysis of 243 finns over two years using independently developed environmental ratings results indicate that it pays to be green and that this relationship strengthens with industry growth we conclude by highlighting the study s academic and managerial implications making special reference to the social issues in management literature

the impact of environmental policy instruments on innovation a review of energy and automotive industry studies various types of policy instruments have been implemented to reduce local and global emissions but the impact on innovation of different instruments has received less attention this paper reviews empirical studies of the innovation impact of four main types of policy instruments in two high emitting sectors the conclusions are threefold 1 policy plays a key role for the development and diffusion of environmental innovation in the studied sectors 2 different types of instruments promote different types of innovations general economic instruments has primarily encouraged incremental innovation general regulatory instruments has enforced improvements based on modular innovation and technology specific instruments appears to have been needed to support the development and deployment of radically new technologies 3 all types of policy instruments face challenges in design and implementation understanding the selection impact of the chosen instruments implementing increasing stringency levels committing to an appropriate scale and safeguarding policy stability

the effects of shifts in monetary policy and reserve accounting regimes on bank reserve management behavior in the federal funds market abstract this paper looks at the effects on fed fund rates and fed fund purchasing behavior of large banks resulting from i the 1982 regime switch from non borrowed to borrowed reserve targeting by the fed and ii the 1984 switch from lagged to almost contemporaneous reserve accounting cra whether we analyse changes in the interest rate or quantity dimensions the shift in monetary policy targets appeared to have had a more profound effect on the market for bank reserves than the shift in reserve accounting regime these results therefore tend to support the contention that a shift to cra by itself will have little effect on bank reserve management behavior unless combined with its logical counterpart a total reserves target

why japanese firms choose to certify a study of managerial responses to environmental issues abstract this paper examines empirically the determinants that led large japanese manufacturers to 1 incorporate environmental goals in their decisions 2 obtain environmental certification iso 14001 and 3 become early adopters of environmental certification we estimate two sets of models 1 models based on a profit maximization assumption and 2 models which incorporate utility maximization arguments recognizing that managers values attitudes and beliefs may also influence firms decisions the empirical analysis suggests that while the costs and benefits of voluntary actions to enhance or protect the environment and the capacity to act are significant determinants of voluntary environmental commitment so are the environmental values beliefs and attitudes of managers

the driving forces of process eco innovation and its impact on performance insights from slovenia this study endeavors to explore the driving forces of process eco innovation and its effect on company performance by adopting an integrative approach we focus on process eco innovation which pertains to technological and non technological solutions that result in a reduction of material and energy costs for companies in this regard the study sheds light on the drivers and outcomes of process eco innovation adoption using data collected from 223 slovenian companies the results reveal that certain determinants i e competitive pressure customer demand managerial environmental concern command and control instrument and economic incentive instrument are conducive to the deployment of process eco innovation empirical evidence reveals competitive pressure as the most influential driving force of process eco innovation followed by managerial environmental concern and customer demand effectiveness in spurring process eco innovation is also found to be a command and control instrument and an economic incentive instrument while expected benefits do not spur process eco innovation pertaining to the outcomes of process eco innovation adoption we can conclude that it pays to be eco process eco innovation is worthwhile in terms of company profitability growth and competitive benefits these findings suggest several courses of action for both policy makers and companies hence we conclude by providing implications for both

characterizing the policy mix and its impact on eco innovation a patent analysis of energy efficient technologies abstract this paper provides an empirical investigation of the role played by selected characteristics of the policy mix in inducing innovation in energy efficiency technologies an original dataset covering 23 oecd countries over the period 1990 2010 combines the full set of policies in the energy efficiency domain for the residential sector with data on patents applied over the same period in this specific technological sector the econometric results suggest that when the policy mix is characterised by a more balanced use in demand pull and technology push instruments its positive effects on eco innovation tend to be greater moreover a more comprehensive policy mix is shown to be able to enhance innovation activities for the generation of new energy efficient technologies however the simple addition of an indiscriminate number of simultaneous policy instruments may reduce policy mix effectiveness finally the empirical findings confirm previous evidence on the importance of policy spillover effects and suggest that policy similarity between countries may represent an important aspect to be accounted for in policy mix design

when the claim hits bilateral investment treaties and bounded rational learning using the international investment regime as its point of departure the article applies notions of bounded rationality to the study of economic diplomacy through a multimethod approach it shows that developing countries often ignored the risks of bilateral investment treaties bit s until they themselves became subject to an investment treaty claim thus the behavior of developing country governments with regard to the international investment regime is consistent with that routinely observed for individuals in experiments and field studies they tend to ignore high impact low probability risks if they cannot bring specific vivid instances to mind

investigating policy and r d effects on environmental innovation a meta analysis in the last decades a wide research effort has been devoted at the analysis of the determinants of environmental innovation ei whereas agreement seemed to emerge around a cluster of determinants mainly technology push market pull policy push pull and firm specific factors empirical analyses have failed to provide strong confirmation on the relevance of some core variables after a qualitative discussion of this literature we empirically assess it by exploiting meta regression analysis techniques to test the effectiveness of two determinants policy and r d our findings are clear as for the first we show that only certain types of policy have proven to affect ei in particular regulatory stringency as for r d we show that the use of estimation methods is not neutral to the outcome of the primary studies

learning from others the diffusion of hospital financing reforms in oecd countries the increase in health care expenditures is a major problem of all welfare states to counter this trend since the early 1980s most oecd countries have changed the way hospitals are financed although these reforms are certainly linked to country specific factors the authors main argument is that they are in part due to a diffusion process policy change in one country is influenced by previous changes in other countries more specifically the authors argue that policy makers learn from the experience of others using an original data set and event history methods to test arguments their results show that policy change is more likely when the existing policy is ineffective and when the experience of other countries suggests that the reform leads to the desired results in addition the authors find that the effects of learning grow over time and that early adopters tend to be countries with few veto players

using geographic information systems to study interstate competition scholars have proposed two distinct explanations for why policies diffuse across american states 1 policymakers learn by observing the experiences of nearby states and 2 states seek a competitive economic advantage over other states the most common empirical approach for studying interstate influence is modeling an indicator of a state s policy choice as a function of its neighbors policies with each neighbor weighted equally this can appropriately specify one form of learning model but it does not adequately test for interstate competition when a policy diffuses due to competition states responses to other states vary depending on the size and location of specific populations we illustrate with two substantive applications how geographic information systems gis can be used to test for interstate competition we find that lottery adoptions diffuse due to competition rather than to learning but find no evidence of competition in state choices about welfare benefits our empirical approach can also be applied to competition among nations and local jurisdictions

price competition short termism and environmental performance this paper studies the relationships between the intensity of price competition time horizon and environmental performance we hypothesize that more intense price competition discourages environmental performance by inducing short termism in companies we test the hypotheses on a sample of 3152 companies from twelve european countries using structural equation modeling test results show that price competition significantly shortens the time horizon that companies apply in strategic decisions and that long time horizon significantly increases their environmental performance however the net negative effect of the intensity of price competition on environmental performance is small in absolute terms the policy implication is that there is no serious dilemma between fostering environmental performance on one hand and increasing consumer surplus by encouraging price competition on the other hand

the globalization of liberalization policy diffusion in the international political economy one of the most important developments over the past three decades has been the spread of liberal economic ideas and policies throughout the world these policies have affected the lives of millions of people yet our most sophisticated political economy models do not adequately capture influences on these policy choices evidence suggests that the adoption of liberal economic practices is highly clustered both temporally and spatially we hypothesize that this clustering might be due to processes of policy diffusion we think of diffusion as resulting from one of two broad sets of forces one in which mounting adoptions of a policy alter the benefits of adopting for others and another in which adoptions provide policy relevant information about the benefits of adopting we develop arguments within these broad classes of mechanisms construct appropriate measures of the relevant concepts and test their effects on liberalization and restriction of the current account the capital account and the exchange rate regime our findings suggest that domestic models of foreign economic policy making are insufficient the evidence shows that policy transitions are influenced by international economic competition as well as the policies of a country s sociocultural peers we interpret the latter influence as a form of channeled learning reflecting governments search for appropriate models for economic policy

the characteristics of energy efficiency measures a neglected dimension abstract the diffusion of cost effective energy efficiency measures eems in firms is often surprisingly slow this phenomenon is usually attributed to a variety of barriers which have been the focus of numerous studies over the last two decades however many studies treat eems homogenously and assume they have few inherent differences apart from their profitability we argue that complementing such analyses by considering the characteristics of eems in a structured manner can enhance the understanding of eem adoption for this purpose we suggest a classification scheme for eems in industry which aims to provide a better understanding of their adoption by industrial firms and to assist in selecting and designing energy efficiency policies the suggested classification scheme is derived from the literature on the adoption of eems and the related fields including the diffusion of innovations eco innovations and advanced manufacturing technology our proposed scheme includes 12 characteristics based on the relative advantage the technical and the information context of the eem applying this classification scheme to six example eems demonstrates that it can help to systematically explain why certain eems diffuse faster than others furthermore it provides a basis for identifying policies able to increase the rate of adoption

economic globalization and the welfare state in affluent democracies 1975 1998 prior scholarship is sharply divided on how or if globalization influences welfare states globalization s effects may be positive causing expansion negative triggering crisis and reduction curvilinear contributing to convergence or insignificant we bring new evidence to bear on this crucial debate with a pooled time series analysis of two measures of the welfare state and 16 indicators of economic globalization for 17 affluent democracies from 1975 to 1998 the analysis suggests that 1 state of the art welfare state models warrant revision in the globalization era 2 most indicators of economic globalization do not have significant effects 3 the few significant globalization effects are in different directions and often inconsistent with extant theories 4 the globalization effects are far smaller than the effects of domestic political and economic factors and 5 these effects are not systematically different for liberal vs nonliberal welfare state regimes european vs non european countries or with four alternative dependent variables increased globalization and a modest convergence of the welfare state have occurred but globalization does not unambiguously cause welfare state expansion crisis and reduction or convergence bisherige befunde der sozialwissenschaftlichen forschung zum kausalen verhaltnis von globalisierung und wohlfahrtsstaat sind nicht eindeutig danach kann globalisierung positive effekte haben und zu einem ausbau an wohlfahrtsstaatlichkeit fuhren eine krise des wohlfahrtsstaates oder leistungsreduktionen herbeifuhren kurvilineare wirkungen aufweisen und zu konvergenz beitragen als auch vollkommen insignifikant sein unsere gepoolte zeitreihenanalyse von wohlfahrtsstaatlichkeit und globalisierung in 17 reichen demokratien 1975 1998 hat folgende befunde zu tage gefordert 1 im zeitalter der globalisierung erscheinen bestehende wohlfahrtsstaatsmodelle revisionsbedurftig 2 die mehrzahl der okonomischen globalisierungsindikatoren weist keine signifikanten effekte auf 3 die wenigen signifikanten effekte zeigen in unterschiedliche richtungen und stimmen haufig nicht mit bestehenden theoretischen annahmen uberein 4 die globalisierungseffekte sind deutlich kleiner als die effekte binnenpolitischer variablen und okonomischer faktoren 5 diese effekte unterscheiden sich in liberalen und nicht liberalen wohlfahrtsregimen bzw europaischen und nicht europaischen landern nicht systematisch von einander im analysezeitraum konnen wir sowohl einen anstieg der verschiedenen globalisierungsindikatoren sowie eine moderate konvergenz der verschiedenen wohlfahrtsstaaten konstatieren jedoch kann der prozess der globalisierung nicht eindeutig als kausale ursache fur die unterschiedlichen entwicklungsrichtungen in den verschiedenen wohlfahrtsstaaten identifiziert werden

does the development of environmental innovation require different resources evidence from spanish manufacturing firms in recent years environmental innovations are getting increasingly at the center both of the scientific debate and of the policy maker agenda adopting the resource based view this paper provides a comprehensive framework for understanding the specific role of internal external and hybrid resources in the environmental innovation development using a dataset of 4829 spanish manufacturing firms and estimating probit models it is found that internal resources have greater importance for environmental innovations moreover green innovators seem to be characterized by more intensive external relationships for hybrid resources acquisition of equipment but not of patents is more relevant finally evidence suggest the relevance of complementing the analysis of the external factors triggering environmental innovations with those of the internal resources the firm has access to in order to fully understand and support the development of environmental innovations

competing for capital the diffusion of bilateral investment treaties 1960 2000 over the past forty five years bilateral investment treaties bits have become the most important international legal mechanism for the encouragement and governance of foreign direct investment the proliferation of bits during the past two decades in particular has been phenomenal these intergovernmental treaties typically grant extensive rights to foreign investors including protection of contractual rights and the right to international arbitration in the event of an investment dispute how can we explain the widespread adoption of bits we argue that the spread of bits is driven by international competition among potential host countries typically developing countries for foreign direct investment we propose a set of hypotheses that derive from such an explanation and develop a set of empirical tests that rely on network measures of economic competition as well as more indirect evidence of competitive pressures on the host to sign bits the evidence suggests that potential hosts are more likely to sign bits when their competitors have done so we find some evidence that coercion and learning play a role but less support for cultural explanations based on emulation our main finding is that the diffusion of bits is associated with competitive economic pressures among developing countries to capture a share of foreign investment we are agnostic at this point about the benefits of this competition for development for useful comments on earlier drafts of this article we thank bill bernhard bear braumoeller frank dobbin robert franzese jeffry frieden geoffrey garrett tom ginsburg jude hays lisa martin bob pahre mark ramsayer steven ratner susan rose ackerman and john sides for research assistance we thank elizabeth burden raechel groom and alexander noonan

empirical generalizations in eco innovation a meta analytic approach abstract although discussions on eco innovation are ongoing and the concept is evolving its central idea is highly stimulating thus a great number of studies has been conducted in recent years around the world based on different perspectives contexts and outcomes therefore the identification and analysis of factors related to eco innovation are essential if knowledge in this field is to be improved and consolidated this research aimed to advance our understanding of the different dimensions of eco innovation through a meta analytical review of its antecedents or drivers consequents and moderators thus a total of 71 studies was analysed generating 818 effect sizes and 220 582 cumulative samples the main findings revealed that barriers company capabilities environmental regulation market turbulence information sources r d and company size were significant antecedents to eco innovation it was also noted that a significance relationship exists between eco innovation and firm performance regarding the moderating effect it was observed that culture the economic situation of the country and context influence the relationship between eco innovation and performance the results revealed that countries with a lower hdi presented stronger effects between eco innovation and firm performance than countries with a higher hdi these findings were interesting because they could demonstrate that eco innovation tends to promote more competitive advantage in countries with environmental problems and consequently a lower hdi

removing environmental market failure through support mechanisms insights from green start ups in the british french and german energy sectors environmentally relevant market failure related to the lack of value attached to environmentally beneficial economic activity constrains environmental entrepreneurship as reported by dean and mcmullen journal of business venturing 22 50 76 2007 unless this market failure is addressed green start ups will be confined to a green prison as stated in pacheco et al sustainable development and entrepreneurship 25 464 480 2010 unable to grow and disseminate their eco innovations out with environmental niche markets in britain france and germany support mechanisms promote the expansion of renewable power technologies this paper examines environmental entrepreneurs perceptions of the importance and effectiveness of support mechanisms in removing environmental market failure in the energy sectors of these three countries our findings suggest that these support mechanisms are perceived by entrepreneurs as having provided a crucial pecuniary motivation among consumers to adopt eco innovation creating greater market certainty for green start ups however when these support mechanisms are reformed aiming at greater market integration for eco innovation green start ups find this transition from protection to more market exposure as challenging and more suited for incumbent firms

globalization as galton s problem the missing link in the analysis of diffusion patterns in welfare state development most macro cross national studies in political science that analyze the impact of globalization on domestic policies do not sufficiently consider the meth odological consequences of diffusion processes or galton s problem as it is often referred to i argue that globalization is a form of diffusion therefore it requires a shift from an exclusively functional analysis which dominates in almost all estab lished comparative studies in the field to a diffusional analysis i assume that glob alization leads to a shift in focus on the part of political actors from domestic to international issues i test this hypothesis by examining social expenditure rates of sixteen highly developed welfare states the results indicate that globalization has become a highly influential factor since the late 1980s in contrast to the years before in addition to the actual results presented here the methodological approach of ana lyzing globalization as diffusion is relevant to other areas of comparative and inter national politics and may be a tool in future research

do policy mix characteristics matter for low carbon innovation a survey based exploration of renewable power generation technologies in germany abstract policy mixes may play a crucial role in redirecting and accelerating innovation towards low carbon solutions thus addressing a key societal challenge towards this end some argue that the characteristics of such policy mixes matter greatly yet with little empirical evidence backing up such claims in this paper we explore this link between policy mix characteristics and low carbon innovation using the research case of the transition of the german electricity system towards renewable energy our empirical insights are based on an innovation survey administered to german manufacturers of renewable power generation technologies which builds on the community innovation survey for our purposes we adjusted the survey to better capture companies perceptions of policy mixes employing a bivariate tobit model we find evidence that companies perceptions regarding the consistency and credibility of the policy mix are positively associated with their innovation expenditures for renewable energies and this positive link intensifies when considering the mutual interdependence of these policy mix characteristics in contrast neither the comprehensiveness of the instrument mix nor the coherence of policy processes were found to be related to innovation expenditures overall these findings suggest that future research on low carbon and eco innovation should pay greater attention to the characteristics of policy mixes rather than focusing on policy instruments only finally our findings indicate a need to consider how policy may be measured in innovation surveys to generate better informed policy advice regarding the greening of innovation

redefining innovation eco innovation research and the contribution from ecological economics while innovation processes toward sustainable development eco innovations have received increasing attention during the past years theoretical and methodological approaches to analyze these processes are poorly developed against this background the term eco innovation is introduced in this paper addressing explicitly three kinds of changes towards sustainable development technological social and institutional innovation secondly the potential contribution of neoclassical and co evolutionary approaches from environmental and innovation economics to eco innovation research is discussed three peculiarities of eco innovation are identified the double externality problem the regulatory push pull effect and the increasing importance of social and institutional innovation while the first two are widely ignored in innovation economics the third is at the least not elaborated appropriately the consideration of these peculiarities may help to overcome market failure by establishing a specific eco innovation policy and to avoid a technology bias through a broader understanding of innovation finally perspectives for a specific contribution of ecological economics to eco innovation research are drawn it is argued that methodological pluralism as established in ecological economics would be very beneficial for eco innovation research a theoretical framework integrating elements from both neoclassical and evolutionary approaches should be pursued in order to consider the complexity of factors influencing innovation decisions as well as the specific role of regulatory instruments and the experience gathered in ecological economics integrating ecological social and economic aspects of sustainable development is highly useful for opening up innovation research to social and institutional changes 2000 elsevier science b v all rights reserved

evolutionary policies for sustainable development adaptive flexibility and risk minimising abstract an evolutionary perspective on policies to foster sustainable development is presented it is argued that policies suggested by the traditional economic theory of environmental policy can stimulate unsustainable socio economic structures and patterns in addition they are unable to remove undesired locked in systems and technologies drawing on evolutionary thinking characterised by diversity selection innovation path dependence and bounded rationality an alternative partly complementary theory of environmental policy is suggested specific attention is given to the role of strategies that are aimed at increasing diversity and adaptive flexibility and at reducing risk

the institutional environment for infrastructure investment the empirical evidence that links political institutions to economic outcomes has grown dramatically in recent years however virtually all of this analysis is undertaken using data from the past three decades this paper extends this empirical framework by performing a two century long historical analysis of the determinants of infrastructure investment in a panel of over 100 countries the results demonstrate that political environments that limit the feasibility of policy change are an important determinant of investment in infrastructure copyright 2002 oxford university press

globalization pressures and the state the worldwide spread of central bank independence the authors examine the impact of globalization on state structures in the specific instance of the central bank following the world system world society and neoinstitutional perspectives in sociology they assume that states are in cultural political and economic competition with each other thereby seeking to maintain their position and status frequently by adopting organizational forms or practices that make them isomorphic with their environment the authors predict that countries boost the independence of their central bank from the political power as their exposure to foreign trade investment and multilateral lending increases they also model the cross national dynamic process of diffusion of central bank independence by examining the impact of cohesive and role equivalent trade relationships between countries they find support for their hypotheses with information on 71 countries between 1990 and 2000

relationships between eco innovation and financial performance evidence from publicly traded companies in poland and hungary while the analysis of the linkages between eco innovative activities and financial performance is a popular topic in the existing body of literature many questions about these relationships especially in transition economies in central and eastern europe cee remain unanswered in this paper we explore four types of eco innovation product process market and sources of supply and their impact on accounting based measurers of financial performance using the data on polish and hungarian publicly traded companies from the years 2006 2013 our results indicated that eco innovators were generally characterized by higher returns on assets and equity and lower earnings retention additionally companies that introduce eco innovation were also significantly larger more likely to face lower financial risk exposure and more likely to possess greater free cash flow than conventional firms the findings suggest that strong asset and financial capabilities are relevant pre conditions for the development of eco innovativeness and that there is a need for environmental policy to create clear incentives for smes to increase activities in that area overall this study extends the understanding of financial performance implications of innovation by focussing on the area of environmental innovation

analysis on china s eco innovations regulation context intertemporal change and regional differences abstract eco innovation is recognized as a determinant of success or failure of environmental protection efforts in the long run this paper attempts to examine china s eco innovation gains in response to the energy saving and emissions reduction eser policy enforced during 2006 2010 we first construct an integrated analysis framework to evaluate the changes of energy and environmental performance used as the proxy of eco innovation and then the intertemporal change of china s eco innovation gains as well as the regional differences is investigated the results indicate that china had accelerated its process of eco innovations during 2006 2010 when a series of eser policies were enforced the developments and wide adoptions of advanced energy saving and environmentally friendly technologies serve as the primary driving forces while upgrading management skills and organizational designs contribute relatively little furthermore the realizing paths of cross region eco innovations in china are obviously discrepant

inter and intra firm effects in the diffusion of new process technology using primarily the example of computerised numerically controlled machine tools cnc in the uk metalworking and engineering industry it is shown that even many years after the date of first use of a new technology although the larger proportion of firms may be using that technology because the extent of intra firm diffusion is limited the proportion of total industry output produced on that technology may be quite small using backward projection techniques it is further shown that intra firm diffusion tends to lag behind inter firm diffusion over the whole of the diffusion process and inter firm diffusion patterns and extent may thus be poor indicators of overall diffusion although intra firm diffusion is therefore crucial to the understanding of overall diffusion patterns the existing literature relating to it has severe limitations and there are no associated policy results it is argued that much greater emphasis should be placed on intra firm issues in future diffusion research it is also suggested that discussions of intra firm policy could usefully proceed within the context of already established general diffusion policy principles

dynamic incentives by environmental policy instruments a survey abstract in this paper i survey and discuss recent developments on the incentives provided by environmental policy instruments for both adoption and development of advanced abatement technology a main conclusion to be drawn from the literature is that under competitive conditions market based instruments usually perform better than command and control moreover taxes may provide stronger long term incentives than tradable permits if the regulator is myopic if the government can anticipate new technology or is able to react on it optimally regulatory policies by virtue of administered prices taxes and policies by setting quantities issuing tradable permits are almost equivalent the literature also shows that under competitive conditions there is no difference between auctioning permits and grandfathering moreover timing and commitment of environmental policy is not crucial for adoption under competitive conditions commitment has positive incentive effects however if an r d sector has market power in the presence of market imperfections the ranking of the different policy instruments is ambiguous

do eco innovations harm productivity growth through crowding out results of an extended cdm model for italy abstract this paper discusses the results for italy of a cdm model crepon et al 1998 further extended with the objective of evaluating drivers and productivity effects of environmental innovations the particular nature of environmental innovations especially as regards the need of government intervention to create market opportunities is likely to affect the way through which they are pursued innovation equation within the cdm model and their effect on productivity productivity equation the contribution of the paper is manifold first the drivers of environmental innovations measured with environmental patents are investigated by using mainly administrative data instead of survey data second i investigate the extent to which firms with big polluting plants tend to bias their innovation strategies towards environmental technologies third the return of environmental innovations is compared to the one of other innovations to indirectly assess the presence of a crowding out effect of environmental innovations at the expenses of other possibly more profitable innovations results based on administrative data aida by bureau van dijk and patent data from patstat of italian manufacturing firms show that innovation efforts of polluting firms is significantly biased towards environmental innovations and that environmental innovations tend to crowd out other more profitable at least in the short run innovations

a study of allocative efficiency of pm2 5 emission rights based on a zero sum gains data envelopment model abstract it is an urgent task for china to control haze emission in environmental treatment emission right trading is a feasible way to achieve the reduction of pollutant emission on the premise that the total pollutant emission amount is under control and the allocation of initial emission rights based on the target total amount is the key to emission right trading in this paper via the input oriented zsg dea model the inter provincial allocative efficiency of pm2 5 emission rights is investigated under the condition that the target total amount is fixed the results showed that 1 after initial emission rights were allocated in accordance with the zsg dea model pm2 5 emission amounts of all provinces would be in a new common dea frontier so as to realize the overall pareto optimality with a set total amount 2 two factors namely land areas and atmospheric environmental capacities of all provinces were considered in the actual allocation to avoid the homogenization of all evaluated units found in the previous evaluation literature on allocative efficiency thereby making the evaluation results more in line with the actual situations in all provinces such an investigation approach can provide guidance on the allocation of initial emission rights in emission right trading and the research results can offer empirical support for haze reducing work load conducted by central and local governments of china

evolutionary approaches for sustainable innovation policies from niche to paradigm fostering technological innovation is considered as an important element of policies towards sustainable development in the past 10 years evolutionary policy approaches have been increasingly advocated for several reasons they seem well equipped to underpin sustainable innovation policies they focus on dynamics of change and their drivers they allow for a substantive perspective on technologies beyond mere input output relations taking into account trajectories and different characteristics of innovation and they are able to describe circumstances under which established technologies might persist even when they are to some extent inferior to their new competitors lock in however the policy effectiveness of evolutionary approaches in cases in which radical or systemic changes are involved is not yet proven in this paper we assess the theoretical rationale instrumental aspects and the coping with policy constraints of three evolutionary policy approaches which have also been used in empirical studies strategic niche management transition management and time strategies each approach has its strengths and specific problems and all three have to be further developed and tested out but they hold promise for contributing to non incremental change with economic and environmental benefits by shaping processes of variation selection and retention with the outcomes feeding back into policy they may also be used in other areas in which innovation direction is important for instance health care or food

the international diffusion of public sector downsizing network emulation and theory driven learning we examine change in the size of the public sector between 1980 and 1997 across twenty six organization for economic cooperation and development oecd member nations with particular attention to diffusion dynamics general method of moments gmm analyses demonstrate imitation of shifts in government employment within the united states and mutual influence among nations that are geographically proximate and that trade extensively disaggregated analyses show that downsizing is contagious while upsizing is not proximate downsizers but not upsizers are imitated and states act on evidence that downsizing is economically beneficial while ignoring evidence that it is harmful we argue that these asymme tries in emulation and learning are a product of the dominance of neoliberal and managerialist discourses that legitimate and theorize shrinking the public sector the twentieth century as a whole and particularly the three decades after world war ii witnessed steady growth in government size and responsibility states devel oped extensive social safety nets actively managed aggregate demand and regu lated a widening swath of economic and social life this trajectory of expansion was linked to powerful forces of economic development and demographic change and anchored in a broad political consensus 1 the 1980s and 1990s saw a sea change in the rate of public sector growth brit ish prime minister margaret thatcher and u s president ronald reagan led the way with privatization outsourcing and load shedding of public responsibilities but the shift in direction was not limited to radicals on the right country reports

what drives eco innovators a critical review of the empirical literature based on econometric methods abstract the aim of this paper is to provide a critical review of the literature on the econometric analyses of firm level determinants to eco innovation the review reveals some gaps in knowledge first an integrated theoretical framework which merges the insights from different approaches is missing second the influence of some variables is still unsettled demand pull and cost savings whereas others have hardly been included in previous analyses internal and international factors third studies on the drivers to eco innovation versus general innovation are relatively scarce with respect to those on the drivers to eco innovation in general fourth analyses of the relevance of different determinants to eco innovation for distinct eco innovator and eco innovation types have largely been missing fifth studies on middle income and developing countries are still scarce sixth the econometric analyses have relied on microeconometric methods based on cross section data mostly logit and probit models whereas the use of panel data is virtually absent seventh detailed econometric analyses on the distinct drivers and barriers to eco innovation in different sectors and regions have not been performed so far finally whether the position of the firm in the value chain and the market structure influence the propensity to eco innovate are largely unexplored topics