Transboundary pollution, tax competition and the efficiency of uncoordinated environmental regulation
Abstract
Under capital tax competition, surprisingly, Ogawa and Wildasin (2009) find that uncoordinated policymaking leads to a first‐best outcome even in the presence of transboundary pollution. However, I show that if the level of environmental regulation is endogenized, the regulation level becomes too loose compared with the optimum (“race to the bottom”). Thus, despite the efficiency result of Ogawa and Wildasin (2009), efforts to achieve...
Paper Details
Title
Transboundary pollution, tax competition and the efficiency of uncoordinated environmental regulation
Published Date
Jul 31, 2019
Volume
52
Issue
3
Pages
1165 - 1194
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