This paper tests the induced innovation hypothesis that higher oil prices will lead to increased innovation in energy-efficient automotive technology. We find robust empirical support for the hypothesis, while using various measures of oil and gas prices and controlling for other factors including constructed knowledge stocks and macroeconomic variables.
Details
Title
Fueling the Innovative Process: Oil Prices and Induced Innovation in Automotive Energy-Efficient Technology
Series
Faculty working papers (Colorado College. Dept. of Economics and Business)
Notes
Acquired as PDF from Colorado College Department of Economics and Business. Converted to PDF/A1.b using Adobe Acrobat Professional. Contact the author for permission to publish.
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