Environmental Policies and Innovation in Renewable Energy

  • Bettarelli L
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Abstract

This paper investigates the effect of Climate Change Policies (CCPs) on green innovation, for a sample of 40 advanced and emerging market economies and 5 economic sectors, during the period 2000-2021. Our results suggest that CCPs increase green patents, with the effect increasing gradually over time. The effect is larger for non-market-based policies—such as R&D subsidies—and technology-support instruments, in countries with greater competitiveness and during periods of stronger economic activity—that is, higher GDP growth, lower uncertainty and financial stress. The results based on a difference-in-differences approach suggest that the positive effect of stricter CCPs on green innovation is stronger in sectors with limited financial constraints.

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APA

Bettarelli, L. (2023). Environmental Policies and Innovation in Renewable Energy. IMF Working Papers, 2023(180), 1. https://doi.org/10.5089/9798400251658.001

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