Environmental Policies and directed technological change

Klaus Gugler, Florian Szücs and Thomas Wiedenhofer

Journal of Environmental Economics and Management, 2024, vol. 124, issue C

Abstract: This article evaluates if and to which extent policy can steer innovation towards eco-friendly technologies. We construct a cross-country dataset on sectoral green innovation and complement it with data on policies designed to address environmental market failures: environmental taxes, regulation, and R&D subsidies. While all of these tools exert a positive effect on green innovation, our IV estimates reveal substantial heterogeneities across policies. Overall, green innovation reacts most strongly to R&D subsidies for renewables, but interaction effects between different policies need to be considered.

Keywords: Climate change; Environmental policies; Directed technological change; Green patents; Regulation; Taxes; R&D (search for similar items in EconPapers)
JEL-codes: Q54 Q55 Q58 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Environmental Policies and Directed Technological Change (2023)
Working Paper: Environmental Policies and Directed Technological Change (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeeman:v:124:y:2024:i:c:s0095069623001341

DOI: 10.1016/j.jeem.2023.102916

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