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Cold start for the green innovation machine. Bruegel Policy Contribution 2009/12, November 23, 2009

Aghion, Philippe and Veugelers, Reinhilde and Serre, Clement. (2009) Cold start for the green innovation machine. Bruegel Policy Contribution 2009/12, November 23, 2009. [Policy Paper]

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    Abstract

    This Policy Contribution accompanies the Policy Brief, "No Green Growth Without Innovation". Written by Senior Non-Resident Fellow Philippe Aghion, Senior Resident Fellow Reinhilde Veugelers and Researcher Clément Serre, this paper discusses the state of green innovation and goes into more depth in discussing the current problems in the area. Examining research and development, patent, and venture capital data, the authors point out that there is momentum for private investment in green technologies. However, they argue that, thus far, the implicit tax rate on energy in the EU27 is too low and fragmented, the carbon price in the EU Emissions Trading System is too volatile, and the public R&D expenditures dedicated to energy and environment are too low. They conclude that immediate state intervention is necessary, at least at the onset, to ensure that the 'green innovation machine' gets properly started.

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    Item Type: Policy Paper
    Commentary on: Aghion, Philippeand Hemous, David and Veugelers, Reinhilde. (2009) No green growth without innovation. Bruegel Policy Brief 2009/07, November 2009. [Policy Paper]
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy
    EU policies and themes > Policies & related activities > environmental policy (including international arena)
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Contributions
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 16 Dec 2009
    Page Range: p. 12
    Last Modified: 15 Feb 2011 18:19
    URI: http://aei.pitt.edu/id/eprint/12219

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