What are the Determinants of Investment in Environmental R&D?

IRPN: Innovation & Environmental Economics (Topic) Pub Date : 2016-05-25 DOI:10.2139/ssrn.2958827

M. Costa-Campi, J. García‐Quevedo, E. Martínez‐Ros

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引用次数: 123

Abstract

To face the challenges posed by climate change, environmental RD yet, investment in environmental R&D remains below the social optimum. The aim of this paper is to analyse the determinants of investment in environmental innovation and to detect the differences, if any, with the determinants of investment in general innovation. In addition, this paper examines the relationship between environmental innovation R&D expenditure and a range of policy instruments, including environmental regulation and other policy measures including R&D subsidies and environmental taxes. The empirical analysis is carried out for 22 manufacturing sectors in Spain for the period 2008–2013. To overcome problems of data availability, we construct a comprehensive database from different surveys. The main implications from our results are (1). Managerial strategy appears as a relevant driver of environmental R&D investments. (2) The establishment of a policy mix between environmental, energy and technological regulatory measures is recommended. (3) The promotion of self-regulation through actions that encourage companies to follow a policy that affects their energy efficiency and is environmentally friendly.

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环境研发投资的决定因素是什么?

面对气候变化、环境研发带来的挑战，环境研发投入仍低于社会最优水平。本文的目的是分析环境创新投资的决定因素，并检测差异，如果有的话，与一般创新投资的决定因素。此外，本文还考察了环境创新研发支出与一系列政策工具之间的关系，包括环境监管和其他政策措施，包括研发补贴和环境税。本文对2008-2013年西班牙22个制造业部门进行了实证分析。为了克服数据可用性的问题，我们从不同的调查中构建了一个综合数据库。研究结果的主要含义是:(1)管理战略似乎是环境研发投资的相关驱动因素。(2)建议在环境、能源和技术监管措施之间建立政策组合。(3)通过鼓励公司遵循影响其能源效率和环境友好型政策的行动，促进自我监管。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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IRPN: Innovation & Environmental Economics (Topic)

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