Page 86 - Azerbaijan State University of Economics
P. 86
E.E.Gasimzade: Influence of oil prices on innovation in renewable energy sector
renewable energy policies, but in short term the effect is higher than 2 years‟ term.
As conclusion, although some other factors should be researched further – like
patent history of companies (whether they keep their innovation levels) or
government policies, renewable energy sector in terms of innovation seems to be
influenced by oil prices.
References
1. Mohr, L. B. (1969). Determinants of innovation in organizations. The American
Political Science Review, 63(1), pp. 112.
2. http://www.irena.org/documentdownloads/publications/irena_re_power_costs_20
14_report.pdf
3. https://www.lazard.com/media/2392/lazard-s-levelized-cost-of-energy-analysis-
90-key-findings.pdf
4. OECD (2016), “Renewable energy”, in OECD Factbook 2015-2016: Economic,
Environmental and Social Statistics, OECD Publishing, Paris.
5. http://fs-unep-centre.org/publications/global-trends-renewable-energy-
investment-2016
6. Henriques, I., & Sadorsky, P. (2008). Oil prices and the stock prices of alternative
energy companies. Energy Economics, 30(3), 998-1010.
7. Cheon, A., & Urpelainen, J. (2012). Oil prices and energy technology innovation:
An empirical analysis. Global Environmental Change, 22(2), 407-417.
8. Johnstone, N., Haščič, I., & Popp, D. (2010). Renewable energy policies and
technological innovation: evidence based on patent counts. Environmental and
resource economics, 45(1), 133-155.
9. Lichtenberg, F. R. (1986). Energy prices and induced innovation. Research
Policy,15(2), 67-75.
10. Crabb, J. M., & Johnson, D. K. (2010). Fueling innovation: the impact of oil
prices and CAFE standards on energy-efficient automotive technology. The
Energy Journal, 199-216.
11. Popp, D. (2001). Induced innovation and energy prices (No. w8284). National
Bureau of Economic Research.
12. Newell, R. G., Jaffe, A. B., & Stavins, R. N. (1998). The induced innovation
hypothesis and energy-saving technological change (No. w6437). National
Bureau of Economic Research.
86

