TY - BOOK ID - 136369791 TI - The Impact of Environmental Policy on Innovation in Clean Technologies PY - 2021 SN - 1513594710 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Japan KW - Macroeconomics KW - Economics: General KW - Environmental Policy KW - Investments: Energy KW - Energy KW - Climate KW - Natural Disasters and Their Management KW - Global Warming KW - Management of Technological Innovation and R&D KW - Environmental Economics: Government Policy KW - Innovation KW - Research and Development KW - Technological Change KW - Intellectual Property Rights: General KW - Electric Utilities KW - Alternative Energy Sources KW - Economic & financial crises & disasters KW - Economics of specific sectors KW - Environmental policy & protocols KW - Technology KW - general issues KW - Investment & securities KW - Environmental management KW - Environmental policy KW - Environment KW - Electricity KW - Commodities KW - Climate policy KW - Renewable energy KW - Currency crises KW - Informal sector KW - Economics KW - Electric utilities KW - Renewable energy sources KW - General issues UR - https://www.unicat.be/uniCat?func=search&query=sysid:136369791 AB - This paper studies the effect of climate change mitigating policies on innovation in clean energy technologies. Results suggest that the tightening of environmental policies since the early 1990s have made a statistically and economically significant contribution to the increase in clean innovation. These effects generally materialized quickly, within 2 to 3 years of the policy change, and were driven by individually significant marginal effects of both market-based policies – such as feed-in tariffs and trading schemes – as well as non-market policies, such as R&D subsidies or emission limits. Looking at electricity innovation in particular, the paper finds that the estimated effect on total innovation is positive on net, meaning that increased innovation in clean and grey technologies is not offset by a decrease in innovation in dirty technologies. From a policy point of view, the paper’s results call for strong policy efforts to decisively shift innovation towards clean technologies. ER -