Crisis Breeds Innovation: The 2022 Energy Crisis and Green Technology Adoption

Paulo Bastos, Jacob Greenspon, Katherine Stapleton and Daria Taglioni

No 10777, Policy Research Working Paper Series from The World Bank

Abstract: This paper studies how the 2022 energy crisis, which triggered the largest energy price shock since the 1970s, affected the diffusion of green technologies. It uses a dataset of online job postings in 16 countries to construct measures of green technology-related job openings, using these as a proxy for green technology adoption. It documents the significant growth in green-technology-related openings in 2022. It shows that establishments that had a higher exposure to the price shock, due to their pre-crisis energy intensity and location in countries with a greater dependence on natural gas imports, posted more green technology-related openings from March 2022.

Date: 2024-05-21
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