Shale Oil Exploration and Regional Innovations
55 Pages Posted: 18 Feb 2021
Date Written: January 22, 2021
We evaluate the effect of the shale boom on regional innovations for a sample of U.S. counties from 2001 to 2009. We find that there has been a significant increase in regional innovation after the shale boom, which mainly comes from experienced inventors and green patents. Moreover, the shale boom affects regional innovation primarily through the migration of inventors. The positive association magnifies with a small scale of inventors who have applied for patents, small amounts of R&D stock, high degrees of Herfindahl-Hirschman index of the branch deposits, and a small number of bank branches. Our findings demonstrate the shale boom's promotional role in regional innovation and implications for shale gas development and policymaking.
Keywords: shale oil, inventor migration, regional innovation
JEL Classification: D22, L13, L4
Suggested Citation: Suggested Citation