In this paper, we investigate the environmental regulation-productivity nexus for 18 OECD countries over the years 1990–2015 and discuss its main policy challenges. Our findings support the hypothesis that environmental policies generate positive productivity returns through innovation as suggested by Porter and Van Der Linde (1995). We find that environmental policies have a productivity growth-promoting effect. Both market and non-market based policies exert a positive but differentiated impact both on labour and multifactor productivity growth. As for specific policies, green taxes display the largest effect on multifactor productivity although with potentially negative redistributive effects. We also find that environmental regulation exerts an indirect positive impact on productivity growth fostering capital accumulation especially in high ICT intensive countries.

在本文中，我们调查了1990年至2015年间OECD的18个国家的环境法规与生产率之间的联系，并讨论了其主要的政策挑战。我们的发现支持了这样的假说：如Porter和Van Der Linde（1995）所建议的那样，环境政策通过创新产生了积极的生产率回报。我们发现环境政策具有促进生产力增长的作用。基于市场和基于非市场的政策都对劳动力和多要素生产率的增长产生积极但有区别的影响。至于具体政策，绿色税对多要素生产率的影响最大，尽管可能带来负面的再分配影响。