Kruse, Juergen and Wetzel, Heike (2016). Energy Prices, Technological Knowledge, and Innovation in Green Energy Technologies: a Dynamic Panel Analysis of European Patent Data. CESifo Econ. Stud., 62 (3). S. 397 - 426. OXFORD: OXFORD UNIV PRESS. ISSN 1612-7501

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Abstract

We examine the effect of energy prices and technological knowledge on innovation in green energy technologies. In doing so, we consider both demand-pull effects, which induce innovative activity by increasing the expected value of innovations, and technology-push effects, which drive innovative activity by extending the technological capability of an economy. Our analysis is conducted using patent data from the European Patent Office on a panel of 26 Organization for Economic Co-operation and Development countries over the period 1978-2009. Utilizing a dynamic count data model for panel data, we analyze 11 distinct green energy technologies. Our results indicate that the existing knowledge stock is a significant driver of green energy innovation for all technologies. Furthermore, the results suggest that energy prices have a positive impact on innovation for some but not all technologies, and that the effect of energy prices and technological knowledge on green energy innovation becomes more pronounced after the Kyoto protocol agreement in 1997 (JEL codes: C33, O31, Q40, Q42, Q55).

Item Type: Journal Article
Creators:
CreatorsEmailORCIDORCID Put Code
Kruse, JuergenUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Wetzel, HeikeUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
URN: urn:nbn:de:hbz:38-264072
DOI: 10.1093/cesifo/ifv021
Journal or Publication Title: CESifo Econ. Stud.
Volume: 62
Number: 3
Page Range: S. 397 - 426
Date: 2016
Publisher: OXFORD UNIV PRESS
Place of Publication: OXFORD
ISSN: 1612-7501
Language: English
Faculty: Unspecified
Divisions: Unspecified
Subjects: no entry
Uncontrolled Keywords:
KeywordsLanguage
COUNT DATA MODELS; TECHNICAL CHANGE; EFFICIENCY GAP; MARKETS; POLICYMultiple languages
EconomicsMultiple languages
Refereed: Yes
URI: http://kups.ub.uni-koeln.de/id/eprint/26407

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