Innovation in Green Energy Technologies and the Economic Performance of Firms
No 2016-2, EWI Working Papers from Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)
In this article, I empirically analyze and compare the impact of innovation in green and non-green energy technologies on the economic performance of ﬁrms. My analysis is conducted on a panel of 8,619 patenting ﬁrms including 968 green energy patenters from 22 European countries over the period 2003 to 2010. I measure economic ﬁrm performance in terms of productivity and use a panel data model based on an extended Cobb-Douglas production function. My results show that green energy innovation has a statistically signiﬁcant negative impact on economic ﬁrm performance. In contrast, non-green energy innovation is shown to have a statistically signiﬁcant positive impact on economic ﬁrm performance. These ﬁndings suggest that private economic returns in terms of productivity are lower for green energy than for non-green energy innovation.
Keywords: green energy technologies; innovation; performance; patents; technological change (search for similar items in EconPapers)
JEL-codes: C33 L25 O31 Q40 Q55 (search for similar items in EconPapers)
Pages: 29 pages
New Economics Papers: this item is included in nep-eff, nep-ene, nep-env, nep-eur, nep-ino, nep-knm, nep-sbm and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ewikln:2016_002
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