Is the Convergence Hypothesis Valid for Per Capita Energy Consumption among G20 Countries? Findings from the Nahar-Inder Test (G20 Ülkeleri Arasında Kişi Başı Enerji Tüketiminde Yakınsama Hipotezi Geçerli Mi? Nahar-Inder Testi’nden Bulgular)

Cihat Karademir, Şencan Felek and Reşat Ceylan
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Cihat Karademir: Pamukkale University
Şencan Felek: Pamukkale University
Reşat Ceylan: Pamukkale University

Business and Economics Research Journal, 2023, vol. 14, issue 3, 337-350

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 (search for similar items in EconPapers)
JEL-codes: C22 O13 Q40 (search for similar items in EconPapers)
Date: 2023
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