Beyond bean counting: Is the policy effective for the innovation efficiency of wind power industry in China?

Abstract

Abstract The technological innovation of wind power is crucial to energy security and energy structure transformation. The Chinese government has been committed to improving the innovation of the wind power industry for decades. Although academic researchers and wind power policymakers have been widely concerned about the absolute score of innovation output, concentrating on innovation output in isolation is ultimately insufficient. This article goes beyond bean counting and evaluates the innovation of the Chinese wind power industry from the perspective of relative efficiency, and then assesses the efforts of the government to improve innovation efficiency (IE). The study uses the data of 105 wind power listed enterprises in China over the period 2008–2019. According to the recommendation made by the existing papers, IE is defined as the capability to generate innovation outputs per unit of R&D investment. Regression analysis is applied to test the policy effect. During 2008–2019, the average value of IE of Chinese wind power industry is 0.196. The IE of wind power enterprises in eastern China (0.265) is higher than that in central and western China (0.169). Besides, the regression results indicate that all categories of wind power innovation policies contribute to the IE of wind power industry in China. Furthermore, the innovation policies issued by the departments of the State Council significantly improve the IE of wind power industry, but the innovation policies from the National People’s Congress and the State Council have no significant impacts on IE.