EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/26394
  
Title:The environmental and macroeconomic effects of socially responsible investment PDF Logo
Authors:Dam, Lammertjan
Heijdra, Ben J.
Issue Date:2008
Series/Report no.:CESifo working paper 2349
Abstract: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.
Subjects:Socially responsible investment
economic growth
environmental economics
resource dynamics
stock market
JEL:H23
M14
O16
O41
Q21
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

Files in This Item:
File Description SizeFormat
572271727.PDF266 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/26394

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.