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

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.