{
  "title": "The Impact of Environmental Policy on Innovation in Clean Technologies",
  "publication": "IMF Working Papers, August 6, 2021",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- The paper studies the effect of climate change mitigating policies on innovation in clean energy technologies.\n- 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.\n- These effects generally materialized quickly, within 2 to 3 years of the policy change.\n- Effects were driven by individually significant marginal effects of both market-based policies (such as feed-in tariffs and trading schemes) and non-market policies (such as R&D subsidies or emission limits).\n- Looking at electricity innovation in particular, 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."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- The paper’s results call for strong policy efforts to decisively shift innovation towards clean technologies.\n- Both market-based policy tools (e.g., feed-in tariffs, trading schemes) and non-market policy tools (e.g., R&D subsidies, emission limits) have individually significant marginal effects and thus can be part of an effective policy mix."
    },
    {
      "heading": "Study scope and metadata",
      "content": "- Author: Johannes Eugster\n- Date: August 6, 2021\n- Series: IMF Working Papers\n- Working Paper No.: 2021/213\n- Issue: 213\n- Volume: 2021\n- Pages: 32\n- DOI: https://doi.org/10.5089/9781513589930.001\n- ISBN: 9781513589930\n- ISSN: 1018-5941\n- Subject areas: Climate policy, Commodities, Electricity, Environment, Environmental policy, Renewable energy, Technology\n- Keywords: climate change mitigation, Climate change mitigation, Climate policy, effect of climate change, Electricity, environmental policies, Environmental policy, Global, innovation, policy effort, policy point of view, policy tool, Renewable energy\n\nSource: The Impact of Environmental Policy on Innovation in Clean Technologies, Johannes Eugster, August 6, 2021, IMF Working Papers No. 2021/213.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2021/08/06/the-impact-of-environmental-policy-on-innovation-in-clean-technologies-463352"
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    "Authors: Johannes Eugster",
    "Published: August 6, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513589930.001",
    "The 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.",
    "Effects were driven by individually significant marginal effects of both market-based policies (such as feed-in tariffs and trading schemes) and non-market policies (such as R&D subsidies or emission limits).",
    "Looking at electricity innovation in particular, 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.",
    "The paper’s results call for strong policy efforts to decisively shift innovation towards clean technologies.",
    "Both market-based policy tools (e.g., feed-in tariffs, trading schemes) and non-market policy tools (e.g., R&D subsidies, emission limits) have individually significant marginal effects and thus can be part of an effective policy mix.",
    "Author: Johannes Eugster",
    "Date: August 6, 2021",
    "Series: IMF Working Papers",
    "Working Paper No.: 2021/213",
    "Issue: 213",
    "Volume: 2021",
    "Pages: 32",
    "DOI: https://doi.org/10.5089/9781513589930.001",
    "ISBN: 9781513589930",
    "ISSN: 1018-5941",
    "Subject areas: Climate policy, Commodities, Electricity, Environment, Environmental policy, Renewable energy, Technology",
    "Keywords: climate change mitigation, Climate change mitigation, Climate policy, effect of climate change, Electricity, environmental policies, Environmental policy, Global, innovation, policy effort, policy point of view, policy tool, Renewable energy",
    "**Working Paper**"
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