Innovation and New-type Industrial Policies: In the Case of Renewable Energy in China

摘要

The development of renewable energy (RE) industry is a process of industry innovation. As an emerging strategic industry, the renewable energy industry has gained sound support from policies in recent years. Nevertheless, industrial development is being impeded by difficulties arising from market failures such as "dual information externalities", "coordination failure" and "lock-in effect", which also exposing some deviation of the current industry policies. Combined with industrial innovation theories of Neoclassical Economics, New Institutional Economics, and Evolutionary Economics, and based on the perspective of new industry policies, this paper reexamines the RE industrial policies in China and tries to explore new-type policies that accord with the innovative essence in the RE industry.