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Interplay Between Adaptation of Financial and Industrial Policies in the Energy Sector
Miguel Vazquez
Gustavo Andreão
José Maria Ferreira Jardim da Silveira
其他書名
The Dynamics of Public Measures to Facilitate Financing of Solar Pv in Brazil
出版
SSRN
, 2022
URL
http://books.google.com.hk/books?id=AkPjzwEACAAJ&hl=&source=gbs_api
註釋
We consider the co-evolution between local-content requirements and development of firms' financial capabilities. To that end, we simplify firms' financial capabilities to two broad groups. On the one hand, we consider as “commercial capability” of the firm its ability to obtain financing from the private financial sector. On the other, we call “technological capability” the ability of the firm to implement local-content requirements in order to access the development bank's financing. We find that the development bank will need to adapt and to revise its policy according to sector needs, but giving time to firms to enhance its capabilities. Moreover, as sector needs are not observable and the results are an emerging phenomenon in a complex system, the design of mechanisms to screen those needs are necessary. This includes, besides frequent use of cost-benefit analysis, the implementation of sandboxes and other experimentation tools to test how changes affect companies.
