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Social and private outcomes of green innovation incentives in European advancing economies

From the environmental policy stance the question of particular importance is how to deliver eco- innovations with both private and social benefits. In advancing economies, where pollution-intensive industries prevail and policies often favour developmental over ecological concerns this question is even more important. This paper explores how four public incentives (regulation, taxes, subsidies and procurement of eco- innovations) and two private incentives (demand incentives and reputational concerns) contribute to creating of private and social benefits from green (eco) innovations in advancing Central European economies. All six types of incentives have beneficial effects on introduction of environmental innovations. Firms introduce innovations with benefits for end users only if they are accompanied with private benefits. The combination of regulation, procurement and financial incentives together with private incentives increases the likelihood of introducing environmental innovations with social benefits. This paper provides evidence-based recommendations for the management of public environmental policies.

eco-innovations ; public and private incentives ; social and private benefits ; advancing economies

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