Green Investment and Productivity Dynamics
为18个OECD国家2004-2020年的绿色资本资产提供了可测度的定义，并评估了绿色技术资本对生产率增长的贡献，发现绿色投资能带来中期生产率提升，且更严格的环境规制反而促进生产率增长。
ABSTRACT This paper reviews existing definitions and measurement efforts to capture the extent of green technological investment, and it provides a measurable definition of green capital asset for a sample of 18 OECD countries from 2004 to 2020. A main goal of this paper is to assess the contribution of green technological capital to productivity growth also taking into account the effects of tightening environmental regulations. The econometric results suggest that: (1) an increase in green technological capital stock generates medium‐term productivity gains; (2) stricter environmental regulations boost, rather than hinder, productivity growth. Furthermore, the empirical findings corroborate previous evidence that more stringent nonmarket policies, such as emission limits, can stimulate innovation, thereby contributing to positive productivity returns. The paper provides also some policy insights highlighting the critical role of green technological investment in promoting sustainable growth while mitigating climate change.