| Περίληψη: | In this dissertation, an alternative approach of total factor efficiency in terms of
performance analysis is investigated, founded on the study of Hu and Wang (2006).
Energy efficiency has recently constituted an essential tool of energy management
universally and the international organizations attempt to figure out energy efficiency
trends over time. This study, at first stage, attempts to provide empirical
estimations of countries’ total factor energy, renewable energy and carbon dioxide
emissions efficiency, as well as of technical efficiency, over a global perspective and
specifically of 127 countries over the period 1990-2013. The convergence hypothesis
is examined in the second stage, based on the log-t regression test introduced
by Phillips and Sul (2007), which accounts for individual heterogeneity across
economies and on the club clustering algorithm which identifies possible convergence
clubs. Founded on the estimation results, technical efficiency was shaped
in low average levels across the countries, relative to the total factor energy, renewable
energy and the carbon dioxide emissions efficiency. At a regional level,
countries within Europe delineated the highest average performance, regarding
the use of energy and renewable energy, as well as the carbon dioxide emissions.
It was further inferred that members of OECD members demonstrated higher performance
on average, founded on the distribution of technical, total factor energy
and carbon dioxide emissions efficiency, whereas it is essential to declare that non-
OECD members denoted higher performance, regarding the use of the renewables.
The log-t regression test proposed by Phillips and Sul (2007) did not support the
full panel convergence hypothesis of the efficiencies, but convergence clubs were
identified. Founded on the club clustering algorithm, four convergence clubs of
technical efficiency were identified, while both total factor energy and carbon dioxide
emissions efficiency, finally converged to three clubs. As regards total factor
renewable energy efficiency, six clubs were identified and one divergent club, as
well.
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