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Renewables And Innovation Empirical Assessment And Theoretical Considerations

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Executive Summary

This paper is about structural change in the energy system. In a first step an econometric model is presented and in a second step diffusion of GTs is embedded theoretically. By focusing on different Green Technology industries (GT sector) in Germany, the authors analyze how policy induced demand stimulates innovation. Taking the size of the market as a proxy for demand and patent counts as a proxy for innovation, they find support that the presence of institutions enabling diffusion of GTs is correlated with innovative activity. Public R&D expenditures also play a significant role.

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