Are Energy Endowed Countries Responsible for Conditional Convergence?

This paper focuses on the process of convergence in per capita CO2 emissions that would occur if the measures taken by the European Union to meet the Kyoto Protocol commitments had been effective. We apply a time series and cross-sectional analysis to test for the existence of convergence among countries and for different economic sectors. The sample covers data for the 28 member countries from 1960 to 2012. The results show weak absolute convergence across countries but clear evidence of conditional convergence, with GDP, the weight of industrial sector and the use of renewable energies being the main drivers of divergence. Concerning sectors, there is an increase of emissions in the agricultural sector, but a reduction in the industrial and energy sectors. Different patterns arise in the energy subsectors where manufacturing and electricity notably reduced their emissions while the transport sector increased them in all countries.

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The law of one price: conditional convergence evidence from disaggregated data

Applied Economics ◽

10.1080/00036840701426584 ◽

2009 ◽

Vol 41 (26) ◽

pp. 3345-3357 ◽

Cited By ~ 1

Author(s):

Peter Egger ◽

Stephan Gruber ◽

Michael Pfaffermayr

Keyword(s):

Law Of One Price ◽

Conditional Convergence ◽

Disaggregated Data ◽

The Law

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Exploring the Channels and Impact of Debt on Economic Growth

South Asia Economic Journal ◽

10.1177/1391561418794692 ◽

2018 ◽

Vol 19 (2) ◽

pp. 171-191

Author(s):

Kashif Munir ◽

Nisma Riffat Mehmood

Keyword(s):

Economic Growth ◽

South Asian ◽

Good Governance ◽

Public Investment ◽

Fixed Effect Model ◽

Asian Countries ◽

Conditional Convergence ◽

Macroeconomic Policies ◽

Effect Model ◽

Private And Public

The objective of this study is to analyse the effect of debt on economic growth as well as the channels, that is, investment, total factor productivity (TFP), interest rate and saving channel through which debt affects economic growth in South Asian countries. The study uses growth model based on conditional convergence and augments to include debt. Panel data of four South Asian countries from 1990 to 2013 at annual frequency are utilized and fixed effect model is used for estimation. The results of the study showed that inverted U-shaped relationship exists between debt and economic growth in South Asian countries. However, the most important and significant channel through which debt affects economic growth is private and public investment as well as TFP. Reducing debt accumulation alone will not rectify the problem unless the supplementary macroeconomic policies are made sound; therefore, there is a dire need to improve macroeconomic policies, good governance and elimination of structural distortions. JEL: C23, H6, O47

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Technological Diffusion, Conditional Convergence, and Economic Growth

10.3386/w8713 ◽

2002 ◽

Cited By ~ 18

Author(s):

David Bloom ◽

David Canning ◽

Jaypee Sevilla

Keyword(s):

Economic Growth ◽

Technological Diffusion ◽

Conditional Convergence

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REGIONAL CONVERGENCE OF ECONOMIC GROWTH DURING POST-REFORM PERIOD IN INDIA

The Singapore Economic Review ◽

10.1142/s021759081450012x ◽

2014 ◽

Vol 59 (02) ◽

pp. 1450012 ◽

Cited By ~ 4

Author(s):

JAGANNATH MALLICK

Keyword(s):

Economic Growth ◽

Growth Models ◽

Public Investment ◽

Private Investment ◽

Club Convergence ◽

Conditional Convergence ◽

Indian States ◽

Middle Income ◽

The Public ◽

Long Run

This paper examines the club-convergence and conditional convergence of economic growth of the major 15 states in India over the periods from 1993–1994 to 2004–2005 by using dynamic fixed effect growth models. The result finds that there is club-convergence within the middle income states. There is also evidence of the convergence of per capita income among Indian states by conditioning private investment and public investment along with other factors of economic growth. This paper is innovative in separating the significance of private investment from the public investment in the long-run dynamics of income in Indian states. This paper suggests that regional disparity in income can be reduced by equitable allocation of private investment and equitable distribution of public investment.

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