The impacts of energy insecurity on green innovation: A multi-country study

Hao-Chang Yang, Gen-Fu Feng, Xin Xin Zhao and Chun-Ping Chang

Economic Analysis and Policy, 2022, vol. 74, issue C, 139-154

Abstract: This research illustrates the impact of energy insecurity on green innovation based on green patent data from 1970 to 2018 in 40 sample countries. Through the bootstrap-based bias-corrected FE (BCFE) estimator analysis with the advantages of bootstrap-based bias correction in panels with cross-sectional dependence and in high-order dynamics, we first find that increased insecurity of fossil energy has an incentive impact on green innovation. Second, through sub-sample regression, we find that energy insecurity in non-OECD countries has a more significant positive impact on green innovation than OECD countries. Third, energy insecurity under the leadership of the left-wing party has no impact on green innovation, while the right-wing party exhibits a positive effect. Fourth, for oil-exporting countries and importing countries, the impact of energy insecurity on green innovation is significantly different. Finally, this paper examines the mediator role of energy and environmental policies and energy consumption structure through causal inference and confirms the mechanism for the impact of energy insecurity on green innovation.

Keywords: Energy insecurity; Green innovation; BCFE estimator; Fossil energy (search for similar items in EconPapers)
JEL-codes: O13 O31 P18 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (52)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:74:y:2022:i:c:p:139-154

DOI: 10.1016/j.eap.2022.01.017

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