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R. N. Stavins, ‘‘Experience with Market-Based Environmental Policy Instruments,’’ In: K. -G. Maler and J. R. Vincent, Eds., Handbook of Environmental Economics, vol. 1, North-Holland, Amsterdam, 2003, pp. 355-435.

has been cited by the following article:

• TITLE: Energy Efficiency Regulation and R&D Activity:A Study of the Top Runner Program in Japan

  AUTHORS: Mitsutsugu Hamamoto

  KEYWORDS: Top Runner Standards, Energy Efficiency, R&D

  JOURNAL NAME: Low Carbon Economy, Vol.2 No.2, June 24, 2011

  ABSTRACT: The Top Runner Program, a new approach to enhancing the energy efficiency of appliances and vehicles, has been in-troduced in Japan. In this paper an empirical analysis of the impact of the program and the labeling systems on firms’ R&D efforts is carried out. The results show that the Top Runner Program and the labeling system for appliances led to increases in R&D expenditures by appliance producers. The program combined with the labeling system caused a 9.5% increase in appliance producers’ R&D expenditures. However, the Top Runner Program and the labeling system for motor vehicles had little or even a negative effect on the innovative activity of motor vehicle manufacturers. R&D ex-penditures by motor vehicle producers may have increased in response to the exhaust gas regulation for diesel-powered vehicles rather than the energy efficiency regulation.