Title: Financial barriers and environmental innovations: evidence from EU manufacturing firms
Citation: CLIMATE POLICY p. 1-17
Publication Year: 2016
JRC N°: JRC103405
ISSN: 1469-3062
URI: http://dx.doi.org/10.1080/14693062.2016.1242057
DOI: 10.1080/14693062.2016.1242057
Type: Articles in periodicals and books
Abstract: We analyse the role of financial barriers in affecting the adoption of environmental innovations with a focus on SMEs in Europe. In taking stock of the consolidated literature on environmental innovations, we find that the role of financial barriers is substantially neglected, although crucial, even more relevant in the current phase of the economic cycle. Our empirical analysis confirms the existence of direct effects of financial barriers for the sake of environmental innovations adoption by EU SMEs. It furthermore sheds more light on the determinants of financial barriers that shape firms’ cleaner production choices. Our findings have the following policy implications: properly designed policies might play a critical role in defining green economy directions, not only by stimulating environmental innovations’ adoption through its determinants but also by acting on the financial levers behind innovation.
JRC Directorate:Joint Research Centre Corporate Activities

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