Are Energy Endowed Countries Responsible for Conditional Convergence?

39 Pages Posted: 7 Jul 2019 Last revised: 29 Apr 2020

See all articles by Matthew E. Oliver

Matthew E. Oliver

Georgia Institute of Technology

Gregory Upton

Louisiana State University, Baton Rouge

Date Written: April 29, 2020

Abstract

We examine the relationship between fossil fuel (FF) endowments and economic convergence. Countries with plausibly exogenous FF endowments show patterns of convergence, as indicated by standard convergence tests. By contrast, we fi nd no evidence of convergence among countries without FF endowments. These patterns of convergence are consistent across measures of physical capital, human capital, and total factor productivity. We discuss the implications of this result for economic development and comment on its implications for global climate policy.

Keywords: economic convergence, fossil fuel endowments, resource curse, economic growth

JEL Classification: O13, O47, Q32, Q43

Suggested Citation

Oliver, Matthew E. and Upton, Gregory, Are Energy Endowed Countries Responsible for Conditional Convergence? (April 29, 2020). USAEE Working Paper No. 19-414, 2019, Available at SSRN: https://ssrn.com/abstract=3414528 or http://dx.doi.org/10.2139/ssrn.3414528

Matthew E. Oliver

Georgia Institute of Technology ( email )

Atlanta, GA 30332
United States

Gregory Upton (Contact Author)

Louisiana State University, Baton Rouge ( email )

Baton Rouge, LA 70803
United States

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