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The role of digital technology in climate technology innovation

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  • Jo, Karam

Abstract

In this paper, I empirically estimate the relationship between digital technology and climate technology using the United States Patent and Trademark Office's patent database. I find that innovation in digital technology increases the number of patents for climate technology by 17.3% on average, with digital data-processing technology and machine-learning-related technologies especially playing a key role in this relationship. Designing and implementing detailed policies that take into account the relationship between the two technologies will help us reduce the time required to achieve carbon neutrality and shift to the digital economy.

Suggested Citation

  • Jo, Karam, 2023. "The role of digital technology in climate technology innovation," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 45(2), pages 21-50.
    • Handle: RePEc:zbw:kdijep:273449
    DOI: 10.23895/kdijep.2023.45.2.21
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    References listed on IDEAS

    as
    1. Sharma, Susan Sunila & Narayan, Paresh Kumar, 2022. "Technology shocks and stock returns: A long-term perspective," Journal of Empirical Finance, Elsevier, vol. 68(C), pages 67-83.
    2. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2001. "The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools," NBER Working Papers 8498, National Bureau of Economic Research, Inc.
    3. William Nordhaus, 2019. "Climate Change: The Ultimate Challenge for Economics," American Economic Review, American Economic Association, vol. 109(6), pages 1991-2014, June.
    4. Silvia Miranda-Agrippino & Sinem Hacioglu Hoke & Kristina Bluwstein, 2018. "When Creativity Strikes: News Shocks and Business Cycle Fluctuations," Discussion Papers 1823, Centre for Macroeconomics (CFM).
    5. Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Digital Technology; Climate Technology; ICT Energy Consumption; Energy Efficiency;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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