Causal Dynamic Relationships between Political–Economic Factors and Export Performance in the Renewable Energy Technologies Market

This study explores how political–economic forces could affect export performance in the renewable energy technologies market. We conduct panel framework analyses to verify the characteristics of panel data for 19 countries before establishing the panel estimator meant to test the effects of political–economic forces on export specialization. We consider the results of the panel framework analyses and develop an empirical model to test casual dynamic relationships between political–economic forces and export performance. The results from the least squares dummy variable-corrected estimation indicate that the major factors promoting the export specialization of renewable energy technologies are, in order of decreasing importance, public pressure, market size, and government demand-pull policy. However, the traditional energy industry has no significant effect on export performance. Finally, this study finds that dynamic effects exist in all estimations.

Abstract licence: CC BY

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