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Environmental Policy and the Direction of Technical Change

Author

Listed:
  • Greaker, Mads

    (Statistics Norway)

  • Heggedal , Tom-Reiel

    (Norwegian Business School)

  • Rosendahl , Knut Einar

    (School of Economics and Business, Norwegian University of Life Sciences)

Abstract

Should governmentsdirectR&Dfrom"dirty"into"clean"technologies?Howim- portantisthiscomparedtocarbonpricing?Weinquireintothis,introducingtwo noveltiescomparedtorecentliterature.WeintroducedecreasingreturnstoR&D,and allowfuturecarbontaxestoin‡uencecurrentR&Ddecisions.Ourresultssuggestthat governmentsshouldprioritizecleanR&D.Dealingwithmajorenvironmentalproblems requires R&Dtoshifttocleantechnology.However,whenmostresearchersworkwith clean technology,bothproductivityspilloversandfuturerisksofbeingreplacedin- crease. Consequently,thewedgebetweenprivateandsocialvalueofaninnovationis largest forcleantechnologies.

Suggested Citation

  • Greaker, Mads & Heggedal , Tom-Reiel & Rosendahl , Knut Einar, 2017. "Environmental Policy and the Direction of Technical Change," Working Paper Series 09-2017, Norwegian University of Life Sciences, School of Economics and Business.
    • Handle: RePEc:hhs:nlsseb:2017_009
    as

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    Keywords

    environment; directedtechnologicalchange; innovationpolicy;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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