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Investigation of Energy Intensity Convergence among OPEC Countries (A Pair-Wise Approach)
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Kiumars Shahbazi   , Davoud Hamidi Razi * |
| Urmia University , davod.hamidi@yahoo.com |
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Abstract: (7110 Views) |
| Nowadays, the energy intensity from the aspects of sustainable development and also energy security is a strategic indicator for countries. The main objective of this article is the investigation of energy intensity convergence among OPEC countries during 1971-2010. To this end, the pair-wise test of Pesaran (2007) and sigma convergence are used. The results of pair-wise test of Pesaran confirmed divergence of cross-country energy intensity. The necessary condition of pair-wise convergence was accepted with low probability, but, sufficient convergence condition was not met. Dynamics of cross-sectional standard deviation over time also suggests the occurrence of sigma divergence in energy intensity trend among OPEC countries. The results also indicate the divergence of energy intensity in Iran from the average energy intensity of OPEC countries. In conclusion, in the pursuit of international environmental targets and energy productivity policies among OPEC members should be regulated with respect to the non-convergence of energy intensity among them. |
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| Keywords: Energy Intensity, Pair-Wise Convergence Test, Unit Root Test, Sustainable Development, OPEC |
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Full-Text [PDF 524 kb]
(2317 Downloads)
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Type of Study: Research |
Subject:
Special
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