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Unexpected Outcomes: Intra-Firm Poll...

Rijal, Binish.

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Unexpected Outcomes: Intra-Firm Pollution Leakage in the United States and Interest Rate Formation in Nepal's Informal Credit Sector.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Unexpected Outcomes: Intra-Firm Pollution Leakage in the United States and Interest Rate Formation in Nepal's Informal Credit Sector./
Author:	Rijal, Binish.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2018,
Description:	171 p.
Notes:	Source: Dissertations Abstracts International, Volume: 80-08, Section: A.
Contained By:	Dissertations Abstracts International80-08A.
Subject:	Environmental economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13422207
ISBN:	9780438834583

Unexpected Outcomes: Intra-Firm Pollution Leakage in the United States and Interest Rate Formation in Nepal's Informal Credit Sector.
Rijal, Binish.

Unexpected Outcomes: Intra-Firm Pollution Leakage in the United States and Interest Rate Formation in Nepal's Informal Credit Sector. - Ann Arbor : ProQuest Dissertations & Theses, 2018 - 171 p.

Source: Dissertations Abstracts International, Volume: 80-08, Section: A.

Thesis (Ph.D.)--State University of New York at Binghamton, 2018.

This item must not be added to any third party search indexes.

The first chapter examines the sign and the magnitude of intra-firm pollution leakage associated with the High Priority Violations Policy (HPVP) under the Clean Air Act. We find that on average, a compliant facility increased its toxic air emissions by about 34% (2,055 lbs.) if it had at least one other sister facility, within the same 6-digit NAICS industry code and belonging to the same parent firm, concurrently under violation. We also find that substitution of pollution from a sister facility under violation increases the risk of violation among currently compliant facilities. The second chapter examines pollution leakage triggered by a facility's participation in Pollution Prevention (P2). On average, we find that a non-participant facility increased its toxic releases by about 7 percent if it had a sister facility within the same 6-digit NAICS industry code concurrently under P2 participation. We find a distinct time pattern in the estimated magnitude of pollution leakage: non-participant facilities increase their toxic releases when their sister facilities enter P2 participation, but this effect disappears over time eventually resulting in decrease of toxic emissions. The final chapter exploits the district-level variation in violence intensity during the "People's War" in Nepal between 1996 - 2006, and the subsequent signing of the peace treaty, to evaluate the relationship between default risk and the informal interest rates. We show that following the signing of the peace treaty in 2006, the informal interest rates increased by about 12 percentage points in the districts that had experienced more violence during the Civil War as compared to the districts that had experienced less violence. Our findings also demonstrate that there were no corresponding statistically significant increases in the default rates to support the lender's risk hypothesis. We find that the increase in the informal interest rates are likely driven by the increase in farm investments and consumption of durables following the ending of the War. Together, these results provide new evidence that the high interest rates in the informal credit sector of developing countries may not entirely be driven by high default risks, and hence the high risk premiums.

ISBN: 9780438834583Subjects--Topical Terms:

535179
Environmental economics.

Unexpected Outcomes: Intra-Firm Pollution Leakage in the United States and Interest Rate Formation in Nepal's Informal Credit Sector.
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500 $a Source: Dissertations Abstracts International, Volume: 80-08, Section: A.
500 $a Publisher info.: Dissertation/Thesis.
500 $a Advisor: Khanna, Neha.
502 $a Thesis (Ph.D.)--State University of New York at Binghamton, 2018.
506 $a This item must not be added to any third party search indexes.
506 $a This item must not be sold to any third party vendors.
520 $a The first chapter examines the sign and the magnitude of intra-firm pollution leakage associated with the High Priority Violations Policy (HPVP) under the Clean Air Act. We find that on average, a compliant facility increased its toxic air emissions by about 34% (2,055 lbs.) if it had at least one other sister facility, within the same 6-digit NAICS industry code and belonging to the same parent firm, concurrently under violation. We also find that substitution of pollution from a sister facility under violation increases the risk of violation among currently compliant facilities. The second chapter examines pollution leakage triggered by a facility's participation in Pollution Prevention (P2). On average, we find that a non-participant facility increased its toxic releases by about 7 percent if it had a sister facility within the same 6-digit NAICS industry code concurrently under P2 participation. We find a distinct time pattern in the estimated magnitude of pollution leakage: non-participant facilities increase their toxic releases when their sister facilities enter P2 participation, but this effect disappears over time eventually resulting in decrease of toxic emissions. The final chapter exploits the district-level variation in violence intensity during the "People's War" in Nepal between 1996 - 2006, and the subsequent signing of the peace treaty, to evaluate the relationship between default risk and the informal interest rates. We show that following the signing of the peace treaty in 2006, the informal interest rates increased by about 12 percentage points in the districts that had experienced more violence during the Civil War as compared to the districts that had experienced less violence. Our findings also demonstrate that there were no corresponding statistically significant increases in the default rates to support the lender's risk hypothesis. We find that the increase in the informal interest rates are likely driven by the increase in farm investments and consumption of durables following the ending of the War. Together, these results provide new evidence that the high interest rates in the informal credit sector of developing countries may not entirely be driven by high default risks, and hence the high risk premiums.
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