Energy prices, technological knowledge and green energy innovation: A dynamic panel analysis of patent counts

Juergen Kruse (kruse@vku.de) and Heike Wetzel
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Juergen Kruse: Energiewirtschaftliches Institut an der Universitaet zu Koeln

No 2014-12, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)

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 OECD 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.

Keywords: Green energy technologies; innovation; patents; demand-pull; technology-push; dynamic count data model (search for similar items in EconPapers)
JEL-codes: C33 O31 Q40 Q42 Q55 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2014-07-31
New Economics Papers: this item is included in nep-cse, nep-ene, nep-env, nep-eur, nep-ino, nep-ipr, nep-pr~ and nep-knm
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:ewikln:2014_012

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