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Technological innovation for low carbon growth : cover story

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Frame of Image ge of challenges and opportunities in the sense that it has to completely rewrite the history of the industrial revolution. Governments should implement strong low carbon policies to develop and commercialize new technologies, let alone diffuse existing ones. Firms should seek to assess the impact of the transition to a low carbon economy within their competitive landscape, and discover a new source of competitive advantages. Abatement technologies for carbon dioxide(CO2) involve both socially desirable and undesirable externalities, requiring dual policy remedies for successful development. Businesses and households do not have to pay for CO2 emissions. The missing price has a negative effect on society by failing to limit emissions and leads to insufficient demand for low carbon technologies. The govern-
ment should create demand for those technologies thr o u g h c a r b o n p r i c i n g o r e m i s s i o n s t r a d e . Technological innovation, on the other hand, enhances social welfare through positive spillover without fully compensating firms for their efforts and success. Since society cannot attain an optimal level of technological innovation, the government should encourage investment in technologies by offering appropriate incentives to businesses. Extensive public policies characterize low carbon growth through innovation and thus widen the scope of government intervention. It is difficult to predict how a set of policies interact to affect the economy and its i


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Title Technological innovation for low carbon growth
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Sub Title

cover story

Material Type Reports
Author(English)

Youn, Woojin

Author(Korean)

윤우진

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade (KIET)

Date 2011
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 15; no.6
Pages 11
Frequency Bimonthly
Language English
File Type Documents
Original Format pdf
Subject Territorial Development < Environment
Holding KDI School of Public Policy and Management

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