Environmental policies,competition and innovation in renewable energy |
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Authors: | Lionel Nesta Francesco Vona Francesco Nicolli |
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Institution: | 1. OFCE Sciences Po, SKEMA Business School, GREDEG UMR CNRS 7321, 60 rue Dostoïevski BP 85, 06902 Sophia-Antipolis Cedex, France;2. University of Ferrara, Italy |
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Abstract: | We investigate the effect of environmental policies on innovation under different levels of competition. Using information regarding renewable energy policies, competition and green patents for OECD countries since the late 1970s, we develop a pre-sample mean count-data econometric specification that accounts for the endogeneity of policies. We find that renewable energy policies are more effective in fostering green innovation in countries with liberalized energy markets. We also find that environmental policies are crucial only in the generation of high-quality green patents, whereas competition enhances the generation of low-quality green patents. |
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Keywords: | Renewable energy technology Environmental policies Competition Endogeneity Pre-sample mean GMM |
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