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Why do manufacturing industries invest in energy R&D?

María Teresa Costa-Campi () and Jose Garcia-Quevedo ()
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María Teresa Costa-Campi: University of Barcelona & IEB

No 2017/20, Working Papers from Institut d'Economia de Barcelona (IEB)

Abstract: Energy R&D can have major social and economic impacts and is a critical factor in addressing the challenges presented by climate change mitigation policies. As well as the energy utilities themselves, firms in other sectors also invest in energy R&D; however, while various studies have examined the determinants of R&D in the former, there are no analyses of energy R&D drivers in other industries. This paper seeks to fill this gap by examining the determinants of investment in energy R&D in non-energy industries. We focus on manufacturing industries where we can differentiate between energy and non-energy R&D related expenditure. The empirical analysis is carried out for 21 sectors in Spain for the period 2008–2013. To overcome problems of data availability, we construct a comprehensive database from several surveys. The data show the importance of taking into account the efforts devoted to energy R&D by the manufacturing sectors in order to have more complete information about the total investment made in energy R&D. The results of the estimations indicate the importance of the energy R&D developed by firms that supply the energy utilities.

Keywords: Energy R&D; energy demand; energy efficiency; panel data (search for similar items in EconPapers)
JEL-codes: Q40 O30 O38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-sbm
Date: 2017
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