| Article Information |
| Journal: |
Business and Economics Research Journal |
| Title of Article: |
Is the Convergence Hypothesis Valid for Per Capita Energy Consumption among G20 Countries? Findings from the Nahar-Inder Test |
| Author(s): |
Cihat Karademir, Şencan Felek, Reşat Ceylan |
| Volume: |
14 |
| Number: |
3 |
| Year: |
2023 |
| Page: |
337-350 |
| ISSN: |
2619-9491 |
| DOI Number: |
10.20409/berj.2023.420 |
|
| Abstract |
| The aim of this study is to examine whether the per capita primary energy consumption levels in G-20 countries exhibit convergence behavior in the period 1965-2021. In the convergence analysis, the ADF unit root test based on Bernard and Durlauf (1996) and the Nahar-Inder (2002) test, which states that convergence behavior can occur even in the presence of a unit root in the analyzed series, are used. According to the findings, while two countries exhibit convergence behavior in the ADF unit root test, convergence behavior is observed in 16 countries according to the Nahar-Inder (2002) technique. Thus, it is observed that the Nahar-Inder (2002) technique yields stronger results than the ADF unit root test. Moreover, the convergence findings indicate that the success rate of the policies to be developed for energy integration will be high. Accordingly, the policy recommendations of the study include the expansion of international agreements, the creation of institutions that will increase the sanctioning power, and the establishment of an international monetary fund to support developing countries in realizing a green transformation in energy use. |
| Keywords: |
Convergence, Energy Consumption, G-20 Countries, Nahar-Inder Test |
|
| JEL Classification: |
O13, Q40, C22 |
|
