Environmental Regulations and Technological Change in the Offshore Oil and Gas Industry
研究了环境规制如何影响海上油气行业的技术创新，通过前沿生产分析检验了波特假说，发现严格的环境规制能促进创新并提高生产率。
<i>Technological progress can play a key role in raising standards of living while improving environmental quality. Well-designed environmental regulations encourage innovation, while poorly designed regulations can inhibit progress. The Porter hypothesis goes further to suggest that tougher environmental regulations could spur innovation, leading to increased productivity of market outputs. We apply frontier production analysis to measure various components of total factor productivity within a joint production model, which considers both market and environmental outputs. We test the causality between technological innovation and environmental regulation and find support for a recast version of the Porter hypothesis.</i>