Work

The Impact of Energy Prices on Green Innovation

Year: 2013

Type: report

Abstract: Based on patent data and industry specific energy prices for 18 OECD countries over 30 years we investigate on an industry level the impact of energy prices on green innovation activities. Our econometric models show that energy prices and green innovation activities are positively related and that energy prices have a significantly positive impact on the share of green innovations in non-green innovations. More concretely, our main model shows that a 10% increase of the average energy prices of the previous five years results in a 2.7% and 4.5% increase of the number of green innovations and the share of green innovations in non-green innovations, respectively. We also find that the impact of energy prices increases with an increasing lag between energy prices and innovation activities. Robustness tests confirm the main results.

Source: Econstor (Econstor)

DOI: 10.3929/ethz-a-009922725

Authors: Ley, Marius, Stucki, Tobias, Wörter, Martin

Institution: ETH Zurich

Language: English

Topic: Environmental Sustainability in Business

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Climate action, Industry, innovation and infrastructure, Affordable and clean energy

Open Access status: green

OpenAlex ID: W102254647

Cites: 44

Cited by: 33

Related to: 10