Deregulation in an energy market and its impact on R&D for low-carbon energy technology |
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Authors: | Minoru Nakada |
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Institution: | Faculty of Economics, Shiga University, 1-1-1 Bamba Hikone Shiga, 522-8522 Japan |
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Abstract: | This paper analyzes the impact of deregulation in an energy market on R&D activities for new energy technology when climate policy is implemented. A model of growth with vertical innovation is modified by including an oligopolistic energy supply sector for demonstrating to what extent deregulation in the energy supply sector will affect R&D activities for low-carbon energy technology, provided that carbon taxation is implemented. The analysis shows that, when the elasticity of substitution between input factors is less than unity, deregulation will drive energy R&D activities and reduce CO2 accumulation if the energy market is highly concentrated in the beginning. |
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Keywords: | Deregulation R& D behavior Environmental policy |
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