Вип. 14. Економічні студії

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Parametric Estimation of Environmental Efficiencies and Shadow Prices of Environmental Pollutants: Cross-Country Approach
(2004) Salnykov, Mikhail; Zelenyuk, Valentyn
This paper has a main purpose of estimation of environmental efficiencies of economies and shadow prices of environmental pollutants for post-communist countries and comparison of them to the respective indicators of other countries. The obtained values of efficiencies can be used as sustainability indicators in determining the international development priorities. Shadow prices estimates can be used as reference values in setting rates of environmental taxation and international environmental trade rates. We approach the problem by using a Shephard-type directional distance function estimated by Translog specification for calculating efficiencies and its duality to the revenue function for estimating the respective shadow prices. Our findings point on inefficient allocation of pollution among the countries as well as provide estimates of economically justified reference values for environmental taxation and international environmental trade rates.