Green innovations and patenting renewable energy technologies
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Green innovations and patenting renewable energy technologies Esfandiar Maasoumi1 · Almas Heshmati2 · Inhee Lee3 Received: 11 February 2020 / Accepted: 9 November 2020 © Springer-Verlag GmbH Germany, part of Springer Nature 2020
Abstract We examine the impact of regulation and policies on green patent generation and evolution of renewable energy technologies in the OECD countries. Public and private investment, investment in education, research and development, and environmental regulation are considered. There is considerable variation in innovation systems and investments in renewable energy, and in outcomes. We assess the impact of environmental stringency and environmental taxes and regulations on renewable energy patents. The considerable heterogeneity requires emphasis on country effects and a separation of general from specific green innovation outcomes. We account for country-specific innovation factors. A balanced panel of 27 OECD countries is examined between 1990 and 2018. A renewable patent model is estimated by different panel data models and estimation methods. We find considerable sensitivity to model assumptions and inference techniques. The study is suggestive, however, of some renewable energy approaches for achievement of OECD environmental goals. Keywords Green innovations · Patents · Environmental policy · Panel data · Count data · OECD · Factor models · GMM
The authors thank two anonymous referees and the guest editors for their comments and suggestions on an earlier version of this manuscript. This paper is dedicated in honor of our great friend and scholar Badi Baltagi.
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Esfandiar Maasoumi [email protected] Almas Heshmati [email protected] Inhee Lee [email protected]
1
Department of Economics, Emory University, Atlanta, USA
2
Jönköping International Business School, Jönköping University, Jönköping, Sweden
3
Department of Economics, Sogang University, Seoul, Korea
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E. Maasoumi et al.
JEL Classification C23 · C52 · F64 · H23 · O13 · O32 · Q20 · Q55
1 Introduction Deteriorating climate and environmental conditions have necessitated changes in fossil fuel-based energy consumption and production. The United Nations’ Sustainable Development Goals (SDGs; World Bank Group 2019) and the Paris agreement (UNFCCC 2015) point to pressing changes that are needed for a transition to clean and renewable energy sources. This transition involves a number of measures, including investment in developing energy saving technologies, combined with taxes, subsidies, and regulations and their enforcement. Policies for public energy and environmental quality which also consider health have contributed to an increased share of renewable energy and reduction of dependence on carbon-based resources. There is a growing literature on renewable energy and factors contributing to the introduction and application of technologies for achieving the SDGs. These studies have influenced the design of environmental and energy policies and their effects on creating sustainable economies. Developed n
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