European Business Schools Librarian's Group
Department of Economics Working Papers,
Vienna University of Economics and Business, Department of Economics
Environmental Policies and Directed Technological Change
Klaus Gugler (), Florian Szücs () and Thomas Wiedenhofer ()
Additional contact information
Klaus Gugler: Department of Economics, Vienna University of Economics and Business
Florian Szücs: Department of Economics, Vienna University of Economics and Business
Thomas Wiedenhofer: Department of Economics, Vienna University of Economics and Business
Abstract: This article evaluates if and to which extent policy can steer innovation towards eco-friendly technologies. We construct a cross-country dataset on sectoral green innovation and complement it with data on policies designed to address environmental market failures: environmental taxes, regulation, and R&D subsidies. While all of these tools exert a positive effect on green innovation, our IV estimates reveal substantial heterogeneities across policies. Overall, green innovation reacts most strongly to R&D subsidies for renewables, but interaction effects between different policies need to be considered.
JEL-codes: Q54; Q55; Q58 December 2023
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