沐春风悟商道介绍中央财金系.pptVIP

* * ◎The direct effect of environmental regulations on productivity Referring to Gray and Shadbegian’s (2003) specification and equation (2) Two measures of TFP 1. Levinsohn and Petrin (2003) TFP. 2. simple, value-added * * Table 5 Impacts of PACE on productivity * * Findings 1. The estimated coefficients for both one-year lagged pollution control fees (lnPFA) and capital (lnPACE) are positive and significant at a conventional statistical level in all estimates. → supporting the Porter hypothesis that a stringent environmental regulation is positive related to industrial productivity