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<p>This paper examines the proportional impact of the Spanish Environmental Investment (EI) tax incentive between 2008 and 2014 using confidential data on firms’ expenditures on environmental protection (SIEEP). Taking advantage of the fact that the treatment variable—tax credit—is continuous and the tax incentive has been going through a modification thus changing its tax credit rates, I implement an instrumental variable (IV) approach to study the general effectiveness of the tax credit on green investment and employment. I find that an increase in the EI tax credit did increase both green investment and employment, particularly the technologies reducing air pollution. The indirect effect, which is particularly high is the one on the level of employees dedicated to environmental protection activities. This shows that green tax credits may have unintended positive effects.</p>

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Environmental investment tax credit: the proportional effects

  • 期刊论文

  • 发表日期：

    2025年3月1日

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  • K. B. Tchorzewska

摘要

This paper examines the proportional impact of the Spanish Environmental Investment (EI) tax incentive between 2008 and 2014 using confidential data on firms’ expenditures on environmental protection (SIEEP). Taking advantage of the fact that the treatment variable—tax credit—is continuous and the tax incentive has been going through a modification thus changing its tax credit rates, I implement an instrumental variable (IV) approach to study the general effectiveness of the tax credit on green investment and employment. I find that an increase in the EI tax credit did increase both green investment and employment, particularly the technologies reducing air pollution. The indirect effect, which is particularly high is the one on the level of employees dedicated to environmental protection activities. This shows that green tax credits may have unintended positive effects.