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On the implications of technological innovation for environmental policy

Published online by Cambridge University Press:  23 December 2002

Ian W.H. Parry
Ian W.H. Parry
Affiliation:
Resources for the Future, 1616 P Street NW, Washington, DC 20036. Tel: (202) 328–5151. E-mail: parry@rff.org; Web: www.rff.org/~parry
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Abstract

This paper draws on a number of recent studies to shed light on several policy issues raised by the impact of environmental policies on technological innovation. First, to what extent does induced innovation raise the overall net benefits to society from environmental policies? Second, how does induced innovation affect the appropriate choice among alternative environmental policy instruments? Third, how does it affect the optimal stringency of environmental regulations? Fourth, should environmental policies be supplemented with additional policies to promote innovation, such as research contracts or prizes for new technologies?

Type
Theory and Applications
Information
Environment and Development Economics , Volume 8 , Issue 1 , February 2003 , pp. 57 - 76
Copyright
© 2003 Cambridge University Press

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Footnotes

I am grateful to the US Environmental Protection Agency (Grant CX 82625301) for financial support and to Mike Toman and three referees for very helpful comments.