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CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology KTH/CESIS Working Paper Series in Economics and Institutions of Innovation

No 445:
Finance and Innovative Investment in Environmental Technology: The Case of Sweden

Hans Lf (), Gustav Martinsson () and Ali Mohammadi ()

Abstract: This report discusses how financing difficulties can affect private sector innovation investments in environmental technology applied to the Swedish setting. Innovative investments are often intangible, the outcomes are highly uncertain, and information asymmetries between entrepreneurs and outside investors are potentially severe. These factors make external finance costly and drive investment in environmental technology below its socially desirable level. Recent evidence from the literature on financing and innovation suggests that financing constraints on innovation are likely economically significant. Therefore, policies and financial developments that affect the availability of finance can have important effects on economy wide rates of environmental technology innovation.

Keywords: Clean technology; Innovation Investments; Financial constraints; Spillovers; Sustainable growth; (follow links to similar papers)

JEL-Codes: O32; O33; Q55; Q56; Q58; (follow links to similar papers)

44 pages, January 16, 2017

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