英文摘要 |
This paper develops a dynamic optimizing macro model that highlights pollution externalities (on welfare and production) and market imperfections, and uses it to discuss the growth impact of both the ex-ante and the ex-post environmental policies. We show that the ex-ante environmental polices will deter the rate of economic growth; while the ex-post environmental policy may stimulate the economic growth rate. More interestingly, the beneficial effects of the ex-post environmental policies on the economic growth rate will become larger the looser the degree of the ex-ante environmental polices. |