Demand‐Driven Technical Change and Productivity Growth: Theory and Evidence from the Energy Policy Act

Autor:	Danny McGowan, Giammario Impullitti, Richard Kneller
Rok vydání:	2020
Předmět:	Economics and Econometrics Natural experiment Exploit Public economics Technical change Natural resource economics media_common.quotation_subject General Business Management and Accounting Energy policy Demand shock Accounting Demand Market size Economics Demand driven Quality (business) Productivity media_common
Zdroj:	The Journal of Industrial Economics. 68:328-363
ISSN:	1467-6451 0022-1821
DOI:	10.1111/joie.12231
Popis:	We present novel evidence on the effect of market size on technology adoption and productivity. Our tests exploit a natural experiment in the U.S. corn industry where changes to national energy policy created exogenous increases in demand. Difference‐in‐difference estimates show that the demand shock caused technical change as corn producers adopted higher quality seeds which in turn raised productivity by 7%. We develop a simple model that formalizes the mechanisms underlying our results.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::9b463792a124156b87c1b16e6be73282 https://doi.org/10.1111/joie.12231 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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