Impact of Renewable Energy Technology on the Economic Growth of the USA

Edwin Garces and Tugrul Daim ()

Journal of the Knowledge Economy, 2012, vol. 3, issue 3, 233-249

Abstract: This paper analyzes the contributions and effects of technological innovation on the US economy. Two effects on multifactor productivity are studied: the effect of the R&D investment and the effect of the R&D investment in renewable energy technologies. A cointegration analysis is used in order to understand the dynamic relationship among variables in the short and long run. A model is built based on GPT theoretical assumptions and uses a data of 33 years of the US economy. The conclusions show that technological innovation positively affects the US economy in the long run. In addition, the R&D investment in renewable energy technology impacts the economy in the short and long run. Thus, renewable energy technologies will play an important role in the future economy. Copyright Springer Science + Business Media, LLC 2012

Keywords: R&D investment; GPT; US economy; OECD; Economic growth; Renewable energy technology (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://hdl.handle.net/10.1007/s13132-010-0032-5 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jknowl:v:3:y:2012:i:3:p:233-249

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/13132

DOI: 10.1007/s13132-010-0032-5

Access Statistics for this article

Journal of the Knowledge Economy is currently edited by Elias G. Carayannis

More articles in Journal of the Knowledge Economy from Springer, Portland International Center for Management of Engineering and Technology (PICMET)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().