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<p>This study introduces a new energy-welfare index, electricity intensity of welfare (EWB), which uses life expectancy, infant survival rates, and under-five survival rates as welfare indicators. We examine the stochastic and beta convergence of the new series across 31 OECD countries. Using novel unit root tests that account for both abrupt and smooth breaks, the results provide support for stochastic convergence of EWB in these countries, regardless of the considered welfare indicator. We identify evidence of beta convergence in EWB by employing a dynamic panel data method alongside a panel-corrected standard error (PCSE) method. Additionally, factors such as globalisation, economic growth, and institutional quality significantly shorten half-lives and greatly increase convergence rates, suggesting that conditional convergence proceeds more rapidly. The conclusion section elaborates on the policy implications of these findings, which are linked to Sustainable Development Goal 7.</p>

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An Evaluation of Electricity Intensity of Welfare Convergence: Stochastic and Beta Convergence Evidence in OECD Countries

  • 期刊论文

  • 发表日期：

    2026年7月27日

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  • Sakiru Adebola Solarin,
  • Şükrü Apaydın

摘要

This study introduces a new energy-welfare index, electricity intensity of welfare (EWB), which uses life expectancy, infant survival rates, and under-five survival rates as welfare indicators. We examine the stochastic and beta convergence of the new series across 31 OECD countries. Using novel unit root tests that account for both abrupt and smooth breaks, the results provide support for stochastic convergence of EWB in these countries, regardless of the considered welfare indicator. We identify evidence of beta convergence in EWB by employing a dynamic panel data method alongside a panel-corrected standard error (PCSE) method. Additionally, factors such as globalisation, economic growth, and institutional quality significantly shorten half-lives and greatly increase convergence rates, suggesting that conditional convergence proceeds more rapidly. The conclusion section elaborates on the policy implications of these findings, which are linked to Sustainable Development Goal 7.