Energy transition: The race between technology and political backlash

Pierre-Olivier Gourinchas, Gregor Schwerhoff and Antonio Spilimbergo
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Antonio Spilimbergo: International Monetary Fund

No WP24-4, Working Paper Series from Peterson Institute for International Economics

Abstract: The green transition faces old and new challenges. Old challenges include insufficient domestic action and challenging international coordination. New challenges include the quest for energy security and the rising threat of geoeconomic fragmentation, the political backlash against climate policies, and a slowing growth prospect. At the same time, technological progress has been faster than expected. The success of the green transition depends on the outcome of the race between technological progress and rising inward-looking policies. Energy security and green transition are mutually reinforcing provided clear policy directions are given. The challenge is to pursue collaboration to exploit technological progress in a world at risk of fragmentation.

Keywords: climate policy; energy security; innovation (search for similar items in EconPapers)
JEL-codes: O38 Q43 Q54 (search for similar items in EconPapers)
Date: 2024-04
New Economics Papers: this item is included in nep-ene, nep-env and nep-ino
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