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The green economy policy discourse has devoted a lot of attention to the design of public policy addressing low-carbon technologies. In this paper we examine the impacts of public R&D support and feed-in tariff schemes on innovation in the wind energy sector. The analysis is conducted using patent application data for four western European countries over the period 1977–2009. Different model specifications are tested, and the analysis highlights important policy interaction effects. The results indicate that both public R&D support and feed-in tariffs have positively affected patent application counts in the wind power sector. The (marginal) impact on patent applications of increases in feed-tariffs has also become more profound as the wind power technology has matured. There is also some evidence of policy interaction effects in that the impact of public R&D support to wind power is greater at the margin if it is accompanied by the use of feed-in tariff schemes. These results support the notion that technological innovation requires both R&D and learning-by-doing, and for this reason public R&D programs should typically not be designed in isolation from practical applications. The paper ends by outlining some important avenues for future research. [ABSTRACT FROM AUTHOR]

The transition to green economies has been mediated by concrete cases and experiments in a variety of different industrial and social sectors. What is lacking, is research that would synthesize key findings and “lessons learned” across a variety of cases. In this study, we explore ten cases of green economy of different sectors and approaches from five European countries and identify factors that have had critical importance for the success or failure of the cases. Our paper reveals similarities across small and large scale cases and different approaches for implementing green economy. We identified critical factors related to economic viability, public funding, technological development, impact assessments, public policies and regulation, social capital, leadership and coordination as well as public acceptability and image. According to our results, transition to green economies requires negotiation between potential trade-offs among multiple goals, and interests of various stakeholders. The mutual benefits can be communicated through valid impact assessments and the integration of R&D into the practical implementation. Securing the continuity of funding and leadership is crucial in successful experiments and attention should be paid to fostering social capital among stakeholders. Instead of any single critical factor, the practical implementation of green economy is related to a multiplicity of factors and causalities depending on the context. The challenges with the practical implementation of green economy can only be met with patient, careful and far-sighted planning of green economy initiatives as well as continuous learning from past experiences. [ABSTRACT FROM AUTHOR]

This paper examines the risk transmissions across the green economy indices of three major regions which include US, Europe and Asia. The econometric analyses are conducted using DCC-GARCH and TVP-VAR connectedness approach to evaluate potential spillover effects within the context of oil and gold. Results indicate that green economy indices of US-Europe exhibit the greatest time-varying correlations among the three pairs during much of 2010–2022 consistent with that of the general equity market. However, co-movements during the COVID-19 pandemic period seem to display a change in pattern for green economy indices. The strength of the co-movements between the US and Europe displayed a declining trend, while that between US and Asia was strengthened, suggesting greater interdependence between these two markets. TVP-VAR connectedness analysis revealed that US and Europe dominate the transmission of the shocks across the years in the green economy, similar to that of the equity markets. However, during the pandemic a pronounced shift occurred in green economies when considering the risk transmissions within the context of commodities: oil and gold. While Asian green economy index was persistently a receiver of risk transmission from oil unlike the other two regions, since pandemic, oil displayed an asymmetric effect and has become the net transmitter of risk in negative returns of the green economies of US and Europe. This may reflect the diversion in environmental policies of the two regions in the recent past, and point to the dominance of energy sector in the green economy. These findings have substantial implications for the development of green economy policies and from an investment perspective. [ABSTRACT FROM AUTHOR]

This paper examines the risk transmissions across the green economy indices of three major regions which include US, Europe and Asia. The econometric analyses are conducted using DCC-GARCH and TVP-VAR connectedness approach to evaluate potential spillover effects within the context of oil and gold. Results indicate that green economy indices of US-Europe exhibit the greatest time-varying correlations among the three pairs during much of 2010–2022 consistent with that of the general equity market. However, co-movements during the COVID-19 pandemic period seem to display a change in pattern for green economy indices. The strength of the co-movements between the US and Europe displayed a declining trend, while that between US and Asia was strengthened, suggesting greater interdependence between these two markets. TVP-VAR connectedness analysis revealed that US and Europe dominate the transmission of the shocks across the years in the green economy, similar to that of the equity markets. However, during the pandemic a pronounced shift occurred in green economies when considering the risk transmissions within the context of commodities: oil and gold. While Asian green economy index was persistently a receiver of risk transmission from oil unlike the other two regions, since pandemic, oil displayed an asymmetric effect and has become the net transmitter of risk in negative returns of the green economies of US and Europe. This may reflect the diversion in environmental policies of the two regions in the recent past, and point to the dominance of energy sector in the green economy. These findings have substantial implications for the development of green economy policies and from an investment perspective. [ABSTRACT FROM AUTHOR]