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Comparative Capitalisms and Energy Transitions: Renewable Energy in the European Union
Author(s) -
Allen Maria L.,
Allen Matthew M. C.,
Cumming Douglas,
Johan Sofia
Publication year - 2021
Publication title -
british journal of management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.407
H-Index - 108
eISSN - 1467-8551
pISSN - 1045-3172
DOI - 10.1111/1467-8551.12352
Subject(s) - renewable energy , directive , european union , business , energy policy , economics , economic system , international economics , engineering , computer science , electrical engineering , programming language
We develop new theory pertaining to the institutional determinants of renewable energy usage across countries and over time. Building on key strands of the comparative capitalisms literature, we introduce new hypotheses relating to the 2009 Directive from the European Union (EU) on energy generation, as well as the impact of labour market regimes, national stock markets and merger and acquisition (M&A) activity, as well as ‘doing business’ conditions across countries. Based on renewable energy data from 27 EU countries over a period of 11 years, we provide new tests of the determinants of renewable energy usage. The data show strong and robust evidence of a causal impact of institutional determinants on renewable energy usage, consistent with a positive impact of the EU's 2009 Directive and other specific institutional factors. We discuss the implications for policy and practice.