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Directionality in Innovation Policy and the Ongoing Failure of Green Deals: Evidence from Biogas, Bio-ethanol, and Fossil-Free Steel
Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Media, Management and Transformation Centre (MMTC). The Ratio Institute, Stockholm, Sweden.ORCID iD: 0000-0002-8625-8744
The Ratio Institute, Stockholm, Sweden.
2022 (English)In: Questioning the Entrepreneurial State: Status-quo, Pitfalls, and the Need for Credible Innovation Policy / [ed] Karl Wennberg & Christian Sandström, Cham: Springer, 2022, p. 251-269Chapter in book (Refereed)
Sustainable development
Sustainable Development
Abstract [en]

Environmental policy is no longer only about imposing regulations on industry. It is increasingly regarded as industrial policy. Both the European Union and national governments are taking more active roles in initiating green deals and various technologies aiming at sustainable development. In this chapter, we describe and discuss some recent experiences of green innovation policies. Historical examples concerning efforts in both biogas and ethanol are combined with a more contemporary description of fossil-free steel, i.e., steel made using hydrogen instead of coal. We argue that the presence of large public funds from different funding bodies such as the European Union, various government agencies, and municipalities has distorted incentives, making it rational for firms to pursue technologies without long-term potential. The result has been an absence of sustainable development, mounting debt, and financial problems for the actors involved. We explain these results and draw policy conclusions concerning the risks related to green deals. Relatedly, we argue that the European Union’s current efforts in hydrogen gas face similar challenges. 

Place, publisher, year, edition, pages
Cham: Springer, 2022. p. 251-269
Series
International Studies in Entrepreneurship, ISSN 1572-1922, E-ISSN 2197-5884 ; 53
Keywords [en]
Biogas, Directionality, Entrepreneurial state, Green deal, Policy failure
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-58069DOI: 10.1007/978-3-030-94273-1_14Scopus ID: 2-s2.0-85133744059ISBN: 978-3-030-94272-4 (print)ISBN: 978-3-030-94275-5 (print)ISBN: 978-3-030-94273-1 (electronic)OAI: oai:DiVA.org:hj-58069DiVA, id: diva2:1684584
Available from: 2022-07-27 Created: 2022-07-27 Last updated: 2022-07-27Bibliographically approved

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Sandström, Christian

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