This paper empirically identifies social learning and neighborhood effects in schooling investments in a new technology regime. The estimates of learning-investment rule from farm household panel data at the onset of the Green Revolution in India, show that (1) agents learn about schooling returns from income realizations of their neighbors and (2) schooling distribution of the parents’ generat...

We extend a well known differential oligopoly game to encompass the possibility for production to generate a negative environmental externality, regulated through Pigouvian taxation and price caps. We show that, if the price cap is set so as to fix the tolerable maximum amount of emissions, the resulting equilibrium investment in green R&D is indeed concave in the structure of the industry. Our...

When expanding abroad, a multinational bank faces a trade-o¤ between accessing a foreign country via cross border lending or a …nancial foreign direct investment, i.e. green…eld or acquisition entry. We analyze the entry mode choice of multinational banks and explicitly derive the entry mode pattern in the banking industry. Moreover, we show that in less developed banking markets, a trend towar...

Using a simple arbitrage argument, positivists claim that the interest rate provides the right basis to fix the discount rate to evaluate green investment projects. The real interest rate observed in the U.S. during the XXth century has been around 1% and 2%. On the contrary, ethicists estimate the discount rate by the marginal rate of substitution between current and future consumption. From c...

The aim of this research is to investigate China’s urban green total factor productivity (TFP) under the background of progressing urbanization and intensifying environmental pollution, and found out its main influencing factors. In this paper, green TFP of 285 prefecture-level cities in China from 2005 to 2012 was estimated through Malmquist productivity index. Results showed that the annual g...

Ethical investments are a now a considerable sector in the investment market, with the Financial Times running the headline “Green and ethical investment comes of age” (Shepherd, [1]). Claudia Quiroz (lead fund manager for Cheviot Climate Assets Fund) predicts a strong future for ethical investment, with sustainable investment becoming a growing theme (Hoskin [2]). Much previous research in the...