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Title: R&D drivers and obstacles to innovation in the energy industry
Author: Costa, M. Teresa (Maria Teresa), 1951-
Garcia-Quevedo, Jose
Duch Brown, Néstor
Keywords: Indústria
Recerca industrial
Gestió de la innovació
Industrial research
Innovation management
Issue Date: Nov-2014
Publisher: Elsevier Ltd
Abstract: The energy industry is facing substantial challenges that require innovation to be fostered. In this paper we analyse the main drivers of R&D investment and obstacles to innovation in this industry. We examine, firstly, whether the stated R&D objectives pursued by firms play a role in their R&D effort. Secondly, we analyse the effects of financial, knowledge and market barriers on the innovation outcomes of the firms. We rely on data from the Technological Innovation Panel (PITEC) for Spanish firms for the period 2004-2010. We use a structural model with three equations corresponding to the decision to carry out R&D or not, the R&D effort and the production of innovations. The results of the econometric estimations show, first, that R&D intensity is positively related to process innovation. Second, the main barriers that hamper innovation in the energy industry are related to market factors while financial and knowledge obstacles are not significant
Note: Versió postprint del document publicat a:
It is part of: Energy Economics, 2014, vol. 46, num. November, p. 20-30
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ISSN: 0140-9883
Appears in Collections:Articles publicats en revistes (Economia)

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