Economics, Econometrics and Finance
4 years ago

Global Energy Intensities Show No Signs of Convergence Over Time.

SSRN Electronic Journal
On the Non-Convergence of Energy Intensities: Evidence from a Pair-Wise Econometric Approach
Yannick Le Pen, Benoît Sévi

Paper Summary

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The article examines whether energy intensities of 97 countries converged between 1971-2003. They used a method by Pesaran to test for convergence without needing a benchmark. Unit-root and stationarity tests showed no global convergence, but some sub-groups like the Middle-East, OECD, and Europe had weaker evidence of non-convergence. Introducing structural breaks didn't change the results much.