Thinking the green transition: evidence from the automotive industry

Andrea Orame () and Daniele Pianeselli ()
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Andrea Orame: Bank of Italy
Daniele Pianeselli: Bank of Italy

No 767, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: We study the European automotive industry in the 2013-2018 period. Volkswagen's Dieselgate scandal and the Paris Agreement, both in 2015, substantially caused a technological shock prompting firms to produce low-emissions cars. By using patent and mergers and acquisitions (M&A) data, we test how firms reacted to that shock. We provide evidence that Italian firms intensified their internal R&D activity but, unlike the rest of Europe, they did not increase their M&A activity. This can potentially reduce the speed of the green transition of Italian firms to the advantage of their competitors.

Keywords: automotive; green transition; technical change; mergers and acquisitions; innovation; patents; electric car (search for similar items in EconPapers)
JEL-codes: G34 L62 O14 O3 (search for similar items in EconPapers)
Date: 2023-04
New Economics Papers: this item is included in nep-com, nep-ene, nep-env, nep-ino, nep-sbm and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_767_23

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