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101. Perverse and virtuous feedbacks between inequality and innovation: Which role for public institutions and public investment?

Author:
Alberto Botta
Publication Date:
04-2015
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
In this paper, we deal with the complex relationship connecting inequality to innovation, and the ways through which public investment, in particular public participation to R&D initiatives, may affect it. We first stress that multiple different equilibria may exist in the inequality-innovation space. The positive link that part of the economic theory often assumes between (initially) rising inequality and improving innovation performances emerges as only one among many other far less virtuous dynamics. We then analyze the specific case of the US. We put emphasis on the possible perverse effects that the financialization of the US economy may induce on the inequality-innovation nexus. We also note that the US developmental State that is very often neglected by the economic literature may effectively mitigate such undesirable outcomes. According to our interpretation of recent developments in the US economy, the widespread belief in the positive proinnovation effects of fierce cutthroat remuneration systems may prove to be ungrounded.
Topic:
Development, Inequality, Innovation, Financialisation, and Public Investment
Political Geography:
Global Focus

102. Baku Dialogues

Author:
Zaur Shiriyev
Publication Date:
09-2014
Content Type:
Journal Article
Journal:
Baku Dialogues
Institution:
ADA University
Abstract:
“Baku Dialogues” is a series of events featuring leading world personalities who will address subjects of current international interest by presenting their views and participating in discussion of these subjects with interested Azerbaijani and international figures. These presentations and discussions, along with other submissions, will be recorded in the “Baku Dialogues”, ADA University’s new journal of record for academic and policy research.
Topic:
International Security, European Union, Geopolitics, Millennium Development Goals, Entrepreneurship, Innovation, and Economic Development
Political Geography:
China, Europe, Middle East, Palestine, and Global Focus

103. Directing Technical Change from Fossil-Fuel to Renewable Energy Innovation: An Application Using Firm-Level Patent Data

Author:
Joëlle Noailly and Roger Smeets
Publication Date:
01-2014
Content Type:
Working Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
This paper investigates the determinants of directed technical change at the firm level in the electricity generation sector. We use firm-level data on patents filed in renewable (REN) and fossil fuel (FF) technologies by 5,261 European firms over the period 1978-2006. We investigate how energy prices, market size and knowledge stocks affect firms’ incentives to innovate in one technology relative to another and how these factors may thereby induce a shift from FF to REN technology in the electricity generation sector. We separately study small specialized firms, which innovate in only one type of technology during our sample period, and large mixed firms, which innovate in both technologies. We also separate the extensive margin innovation decision (i.e. whether to conduct innovation) from the intensive margin decision (i.e. how much to innovate). Overall, we find that all three factors - energy prices, market sizes and past knowledge stocks - matter to redirect innovation towards REN and away from FF technologies. Yet, we find that these factors have a larger impact on closing the technology gap through the entry (and exit) of small specialized firms, rather than through large mixed firms’ innovation. An implication of our results is that firm dynamics are of direct policy interest to induce the replacement of FF by REN technologies in the electricity generation sector.
Topic:
Innovation, Renewable Energy, Fossil Fuels, Patents, and Firm Dynamics
Political Geography:
Global Focus

104. Knowledge spillovers from renewable energy technologies: Lessons from patent citations

Author:
Joëlle Noailly and Victoria Shestalova
Publication Date:
12-2013
Content Type:
Working Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
This paper studies the knowledge spillovers generated by renewable energy technologies, unraveling the technological fields that benefit from knowledge developed in storage, solar, wind, marine, hydropower, geothermal, waste and biomass energy technologies. Using citation data of patents in renewable technologies at 17 European countries over the 1978-2006 period, the analysis examines the relative importance of knowledge flows within the same specific technological field (intra-technology spillovers), to other technologies in the field of power-generation (inter-technology spillovers), and to technologies unrelated to power-generation (external-technology spillovers). The results show significant differences across various renewable technologies. While wind technologies mainly find applications within their own technological field, a large share of innovations in solar energy and storage technologies find applications outside the field of power generation, suggesting that solar technologies are more general and, therefore, may have a higher value for society. Finally, the knowledge from waste and biomass technologies is mainly exploited by fossil-fuel power-generating technologies. The paper discusses the implications of these results for the design of R&D policies for renewable energy innovation.
Topic:
Science and Technology, Innovation, Renewable Energy, and Patents
Political Geography:
Global Focus