Game of Regional Environmental Policy: Europe and US

We analyse a different timing implementation of environmental regulation and compare the effects on the markets from a policy innovation perspective. The paper addresses the question: Should a regulator try to commit to a policy (ex-ante regulation) or rather adapt its policy to a firm’s decisions (...

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Bibliographic Details
Published in:Journal of industry, competition and trade competition and trade, 2019-03, Vol.19 (1), p.1-20
Main Authors: Asproudis, Elias, Khan, Nadeem, Korac-Kakabadse, Nada
Format: Article
Language:English
Subjects:
Economic Policy
Economics
Economics and Finance
Environmental policy
Environmental regulations
European Integration
Industrial Organization
Innovations
International Economics
Markets
Microeconomics
R & D/Technology Policy
Timing issues
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Summary:We analyse a different timing implementation of environmental regulation and compare the effects on the markets from a policy innovation perspective. The paper addresses the question: Should a regulator try to commit to a policy (ex-ante regulation) or rather adapt its policy to a firm’s decisions (ex-post)? The findings are of interest towards improving regulatory effectiveness and economics efficiencies, e.g. for the transatlantic regional relationship between EU and USA. Our findings highlight differences in policy timing between markets may be harmful. The transatlantic regulators should consider the timing of the policy innovation for the achievement of mutual benefits.
ISSN:1566-1679
1573-7012
DOI:10.1007/s10842-018-0274-7