The environmental and macroeconomic effects of socially responsible investment

Arbeitspapier

We analyze the effects of socially responsible investment and public abatement on environmental quality and the economy in a continuous-time dynamic growth model featuring optimizing households and firms. Environmental quality is modelled as a renewable resource. Consumers can invest in government bonds or firm equity. Since investors feel partly responsible for environmental pollution when holding firm equity, they require a premium on the return to equity. We show that socially responsible investment behaviour by households partially offsets the positive effects on environmental quality of public abatement policies.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 2349

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies ; Corporate Culture; Diversity; Social Responsibility ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; One, Two, and Multisector Growth Models ; Renewable Resources and Conservation: Demand and Supply; Prices
• Thema: Socially responsible investment ; economic growth ; environmental economics ; resource dynamics ; stock market ; Ethische Geldanlage ; Kapitalanlage ; Umweltbewusstsein ; Umweltpolitik ; Umweltschutzinvestition ; Wirtschaftspolitische Wirkungsanalyse ; Umweltschutz ; Erneuerbare Ressourcen ; Wachstumstheorie ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Dam, Lammertjan ; Heijdra, Ben J.
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2008

Weitere Informationen

• Handle: http://hdl.handle.net/10419/26394
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ