The Evolution of Renewable Energy Policy in OECD Countries: Aggregate Indicators and Determinants

Francesco Nicolli and Francesco Vona

No 2012.51, Working Papers from Fondazione Eni Enrico Mattei

Abstract: This paper proposes different methods to aggregate heterogeneous policies for renewable energy. We compare time-varying indicators built using principal component analysis with average-based indicators. The main goal of the paper is to account for the evolution of both types of policy indicators with a set of common variables. Our empirical results are consistent with predictions of political-economy models of environmental policies as lobbying, income and, to a less extent, inequality have expected effects on policy. The brown lobbying power, proxied by entry barriers in the energy sector, has negative influence on the policy indicators even when taking into account endogeneity in its effect. The results are also robust to dynamic panel specifications and to the exclusion of groups of countries. Interestingly, too, corruption has only an indirect effect on policy mediated by entry

Keywords: Renewable Energy Policy; Political Economy; Product Market Regulation; Lobbying; Policy Indicators (search for similar items in EconPapers)
JEL-codes: D72 O38 Q42 Q48 (search for similar items in EconPapers)
Date: 2012-07
New Economics Papers: this item is included in nep-ene, nep-env and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

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Related works:
Working Paper: The Evolution of Renewable Energy Policy in OECD Countries: Aggregate Indicators and Determinants (2012)
Working Paper: The evolution of renewable energy policy in Oecd countries:aggregate indicators and determinants (2012)
Working Paper: The evolution of renewable energy policy in OECD countries: aggregate indicators and determinants (2012)
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