Work

Market-based instruments and sustainable innovation:A systematic literature review and critique

Year: 2022

Type: review

Abstract: This paper describes a systematic literature review of how market-based instruments can influence the development of sustainable innovation. Our analysis of empirical papers published in selected peer-reviewed journals from 1992 to 2021 shows that contextual factors such as geography and industrial sector impact whether market-based instruments successfully stimulate firms to adopt sustainable innovation. Interestingly, while most of our selected papers on East Asia report positive effects of market-based instruments, about half of the papers on Europe report negative or non-significant effects. Moreover, we appear to uncover a link between the research method they use for analysis and the observed effectiveness of market-based instruments. We reflect on the limitations and bias in current methodological approaches and discuss explanations for our findings, implications for policymakers, and avenues for future research.

Source: Journal of Cleaner Production

DOI: 10.1016/j.jclepro.2022.133947

Authors: Maryam Mazaheri, Jaime Bonnin Roca, Arjan Markus, Bob Walrave

Institution: Eindhoven University of Technology

Language: English

Topic: Environmental Sustainability in Business

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $3,850