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- ISIDORE Id: 10670/1.17ff04...
- hal: hal-03573000
- doi: 10.1016/j.eneco.2022.105895
- PII: S0140-9883(22)00076-7
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info:eu-repo/semantics/altIdentifier/doi/10.1016/j.eneco.2022.105895
http://creativecommons.org/licenses/by-nc/ , info:eu-repo/semantics/OpenAccess
Mots-clés
Environmental debt Public debt CO2 emissions Panel data Welfare Environmental debt O - Economic Development, Innovation, Technological Change, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O44 - Environment and Growth Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q52 - Pollution Control Adoption and Costs • Distributional Effects • Employment Effects E - Macroeconomics and Monetary Economics/E.E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook/E.E6.E62 - Fiscal Policy H - Public Economics/H.H6 - National Budget, Deficit, and Debt/H.H6.H63 - Debt • Debt Management • Sovereign Debt Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q58 - Government PolicySujets proches
Public debt Sovereign debt National debts Government debts Debts, Government Public debtsCiter ce document
Mohamed Boly et al., « Can Public Debt Mitigate Environmental Debt? Theory and Empirical Evidence », HAL SHS (Sciences de l’Homme et de la Société), ID : 10.1016/j.eneco.2022.105895
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Résumé
This paper investigates the relationship between public debt and environmental debt—reflecting CO carbon concentration. First, using an endogenous growth model in which pollution abatement spending can be financed by public debt, we show that public debt and environmental debt are complementary in the long run and usually substitutes in the short run. Second, these predictions are empirically confirmed: in particular, a 1% increase in the public debt ratio leads to an increase of 0.74% in cumulative CO per capita in the long run. Our findings emphasize the difficulty of defining policies that jointly serve both the economic (fiscal) and the environmental goals, due to the short- and long-run conflicting environmental effects of policies that either reduce or do not constrain public debt.
