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Carbon Taxes, Path Dependency, and Directed Technical Change: Evidence from the Auto Industry

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  • Aghion, Philippe
  • Dechezleprêtre, Antoine
  • Hemous, David
  • Martin, Ralf
  • Van Reenen, John

Abstract

Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 countries over several decades. We show that firms tend to innovate relatively more in clean technologies when they face higher tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow clean to overtake dirty technologies.

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  • Aghion, Philippe & Dechezleprêtre, Antoine & Hemous, David & Martin, Ralf & Van Reenen, John, 2016. "Carbon Taxes, Path Dependency, and Directed Technical Change: Evidence from the Auto Industry," Scholarly Articles 27759048, Harvard University Department of Economics.
    • Handle: RePEc:hrv:faseco:27759048
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    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment

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