Do environmental regulations matter on Spanish foreign investment? A multisectorial approach
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Editorial
Springer
Materia
FDI Gravity Spain Environment Regulation
Date
2021Referencia bibliográfica
Published version: Cansino, J.M., Carril-Caccia, F., Molina- Parrado, J.C. et al. Do environmental regulations matter on Spanish foreign investment? A multisectorial approach. Environ Sci Pollut Res 28, 57781–57797 (2021). https://doi.org/10.1007/s11356-021-14635-6
Abstract
A gravity model is used to investigate the impact of the stringency and enforcement of the environmental regulation on Spanish investment flows abroad during the period 2008–2018. From the pollution haven hypothesis’ (PHH) perspective, the research tests if offshoring and outsourcing processes from Spanish multinational enterprises (MNEs) were due to movements through FDI of high-polluting industries seeking refuge in countries with a low standard of legal environmental protection framework. The analysis includes FDI into primary, manufacturing, construction, wholesale and retail, professional services, leisure services, utilities, and other services. When no sectoral approach is developed, PHH seems to be not held. However, the multisectoral perspective states that MNEs in primary and manufacturing sectors seek refuge in countries with a low standard of legal environmental protection framework.