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Export and patent specialization in low carbon technologies

The low-carbon technology sector is going through a period of disruptive innovation and strongly increased investment, which is likely to continue. Global investment in new renewable power is the largest area of electricity spending. The political momentum to combat climate change was reinforced in the Paris Agreement, when almost every country in the world agreed to aim for carbon neutrality in the second half of the century.

By: and Date: August 7, 2018 Topic: Energy & Climate

This contribution is a chapter of the Global Innovation Index 2018, co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO).

This chapter assesses the potential of countries to excel in technologies deemed essential for the low-carbon transition based on their export and technological specializations. Global trade and patenting patterns over the past two decades are analysed to uncover the persistence and current state of competitive advantages in the low-carbon sector.

Moreover, this chapter investigates countries’ potential to develop a specialization—in terms of both exports and patenting—in certain technologies, based on their strength in related sectors and developments in similar countries. The analysis relies on systematic evidence originating from the regional growth literature triggered by Hidalgo et al. (2007), which found that countries diversify into industries that are closely related to current export strengths.

The chapter explores global dynamics in low-carbon technologies and the persistence of export and technology specialization profiles. Subsequently, it analyses which countries currently specialize in the low-carbon technologies considered and which countries have the potential to develop a competitive edge in the future.

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Working Paper

Greening monetary policy

The author proposes a tilting approach to steer the allocation of the Eurosystem’s assets and collateral towards low-carbon sectors, which would reduce the cost of capital for these sectors relative to high-carbon sectors. Central banks have already started to look at climate-related risks in the context of financial stability. Should they also take the carbon intensity of assets into account in the context of monetary policy?

By: Dirk Schoenmaker Topic: Energy & Climate, European Macroeconomics & Governance Date: February 19, 2019
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Is the European automotive industry ready for the global electric vehicle revolution?

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By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: January 10, 2019
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The electrification of vehicles has become a key trend in the automotive sector, driven by clean energy and climate-change concerns. In a scenario of further proliferation of electric vehicles, the authors here consider how Europe might best attempt to catch and overtake other countries’ manufacturers and suppliers in the development race.

By: Simone Tagliapietra and Reinhilde Veugelers Topic: Innovation & Competition Policy Date: January 9, 2019
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Podcast

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