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Fueling the Innovative Process: Oil Prices and Induced Innovation in Automotive Energy-Efficient Technology

Colorado College Working Paper No. 2007-04

18 Pages Posted: 6 Jun 2007  

Daniel K. N. Johnson

Colorado College - Department of Economics and Business

Joseph M. Crabb

Colorado College - Department of Economics and Business

Date Written: May 2007

Abstract

This paper tests the induced innovation hypothesis that higher oil prices will lead to increased innovation in energy-efficient automotive technology. We find robust empirical support for the hypothesis, while using various measures of oil and gas prices and controlling for other factors including constructed knowledge stocks and macroeconomic variables.

Keywords: induced innovation, patent, oil, gas, automobile, energy,

JEL Classification: O3, Q4, Q55

Suggested Citation

Johnson, Daniel K. N. and Crabb, Joseph M., Fueling the Innovative Process: Oil Prices and Induced Innovation in Automotive Energy-Efficient Technology (May 2007). Available at SSRN: https://ssrn.com/abstract=991411 or http://dx.doi.org/10.2139/ssrn.991411

Daniel Kent Neil Johnson (Contact Author)

Colorado College - Department of Economics and Business ( email )

14 E Cache La Poudre Street
Colorado Springs, CO 80903
United States
719-389-6654 (Phone)
719-389-6927 (Fax)

HOME PAGE: http://faculty1.coloradocollege.edu/~djohnson

Joseph M. Crabb

Colorado College - Department of Economics and Business ( email )

14 E Cache La Poudre Street
Colorado Springs, CO 80903
United States

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