Convergence of the world’s energy use
Tie-Ying Liu and
Chien-Chiang Lee ()
Resource and Energy Economics, 2020, vol. 62, issue C
This paper uses the sequential panel selection method to examine the convergence of the energy use of 107 countries. It contributes by analyzing the order of convergence and the factors affecting the difference in convergence using improved methods. We provide robust evidence to indicate that seven out of ten countries have been convergent during the period examined, and strong decoupling across countries does not exist. Additionally, high-income and upper-middle-income countries show convergence characteristics earlier than lower middle-income and low-income countries. This means that high-income and upper-middle-income countries are the first to achieve steady-state levels by adjusting their industrial structure and adopting new technologies, and energy exporters have dominant control over energy use. We find that energy-exporting countries converge before energy importers do. These results mean that the energy use of most countries is in accordance with the convergence theory. It also shows that GDP per capita, industrialization level and latitude have great impacts on convergence, especially for industrialization. Our research provides a reference for countries around the world to adjust their energy use policies and to realize a rational flow of energy resources.
Keywords: Energy use; Convergence; Diversity; Sequential panel selection method; Convergence order (search for similar items in EconPapers)
JEL-codes: C23 O11 Q43 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:resene:v:62:y:2020:i:c:s0928765519300417
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