R&D drivers and obstacles to innovation in the energy industry
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...
| Authors: | , , |
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| Format: | article |
| Status: | Versión aceptada para publicación |
| Publication Date: | 2014 |
| Country: | España |
| Institution: | Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya) |
| Repository: | Recercat. Dipósit de la Recerca de Catalunya |
| OAI Identifier: | oai:recercat.cat:2445/109054 |
| Online Access: | https://hdl.handle.net/2445/109054 |
| Access Level: | Open access |
| Keyword: | Indústria Recerca industrial Gestió de la innovació Energia Industry Industrial research Innovation management Energy |
| Summary: | 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 |
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