Explaining Trade Flows in Renewable Energy Products: The Role of Technological Development
Mai Miyamoto () and
Kenji Takeuchi ()
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Mai Miyamoto: Graduate School of Economics, Kobe University
No 1819, Discussion Papers from Graduate School of Economics, Kobe University
This study investigates the trade flows of renewable energy products, focusing on the role of technological development. We estimate a gravity model that explains the trade flows among 35 OECD countries from 1996 to 2010 using patent counts as a proxy for technology level. We compare the pattern of the trade flows between two representative renewable energy products: those related to wind and solar electricity generation. The results suggest that technological level is correlated with trade flows and this correlation is weaker in the model for solar products than that for wind products. When we include China in the sample in estimation, the technological level of solar energy is no longer correlated with the exports of solar power products.
Keywords: Renewable energy products; Trade; Technological development; Patent; Gravity model (search for similar items in EconPapers)
JEL-codes: F14 O33 Q55 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene, nep-env, nep-ino, nep-int and nep-reg
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