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Technological change, energy, environment and economic growth in Japan

Author

Listed:
  • Galina Besstremyannaya

    (CEFIR at New Economic School)

  • Richard Dasher

    (Stanford University)

  • Sergei Golovan

    (New Economic School)

Abstract

A considerable amount of research has shown that that carbon tax combined with research subsidy may be regarded as an optimal policy in view of diffusing low carbon technologies for the benefit of the society. The paper exploits the macro economic approach of the endogenous growth models with technological change for a comparative assessment of these policy measures on the economic growth in the US and Japan in the medium and the long run. The results of our micro estimates reveal several important differences across the Japanese and US energy firms: lower elasticity of innovation production function in R&D expenditure, lower probability of a radical innovation, and larger advances of dirty technologies in Japan. This may explain our quantitative findings of stronger reliance on carbon tax than on research subsidies in Japan relative to the US.

Suggested Citation

  • Galina Besstremyannaya & Richard Dasher & Sergei Golovan, 2017. "Technological change, energy, environment and economic growth in Japan," Working Papers w0245, Center for Economic and Financial Research (CEFIR).
    • Handle: RePEc:cfr:cefirw:w0245
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    References listed on IDEAS

    as
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    Cited by:

    1. Juan Uribe-Toril & José Luis Ruiz-Real & Juan Milán-García & Jaime de Pablo Valenciano, 2019. "Energy, Economy, and Environment: A Worldwide Research Update," Energies, MDPI, vol. 12(6), pages 1-19, March.

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    More about this item

    Keywords

    endogenous growth; technological change; innovation; carbon tax; energy;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q49 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Other

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