Title: The development of Renewable Energy industries in emerging economies: the role of economic, institutional, and socio-cultural contexts in Latin America

Authors: Juan Leonardo Espinoza, Harrie Vredenburg

Addresses: Ministry of Electricity and Renewable Energy, Av. Eloy Alfaro N29-50 y 9 de Octubre-Edif., Correos del Ecuador (2°. Piso), Quito, Ecuador. ' Haskayne School of Business, University of Calgary, 2500 University Dr, NW, Calgary, Alberta T2N 1N4, Canada

Abstract: This paper is based on a comparative case study that analyses the development of the wind power industry in two Latin American countries. This study helps us understand the influence of the different economic, institutional, and socio-cultural contexts over the start-up of Renewable Energy (RE) businesses. This research identifies the key role that |informal| institutional factors play. The paper also explains why supporting networks are local/regional. The paper concludes with implications for potential investors in RE projects in emerging economies. Opportunities for further research are identified.

Keywords: sustainable development; sustainability; wind power; renewable energy; business start-ups; support networks; socio-cultural influences; institutional theory; legitimacy; developing economies; emerging economies; business research; Latin America; Costa Rica; Ecuador.

DOI: 10.1504/IJEBR.2010.032295

International Journal of Economics and Business Research, 2010 Vol.2 No.3/4, pp.245 - 270

Available online: 29 Mar 2010 *

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