A CLUB CONVERGENCE ANALYSIS OF COMPETETIVE INDUSTRIAL PERFORMANCE AMONG OECD NATIONS

Yıl 2024, , 891 - 906, 20.10.2024

Şekip Yazgan , Muhammet Daştan , Reşat Ceylan

https://doi.org/10.35379/cusosbil.1476609

Öz

The industrial sector has historically been characterized as the engine of growth due to its positive contribution to productivity, trade, employment and technological advancement. Determining the convergence dynamics between countries’ industrial sectors is of great importance. However, the empirical literature on convergence dynamics in the industrial sector is quite limited. In this context, this study aims to investigate the convergence dynamics of the industrial sector in 38 OECD countries in the period covering the years 1990-2021 within the framework of the Club Convergence Hypothesis using the Phillips and Sul (2007, 2009) approach. In the study, the Competitive Industrial Performance Index is used as an industrial sector indicator different from the related literature. This index is considered as an important indicator used in comparing the performance of the industrial sector across countries and shows how successful countries are in producing industrial goods competitively and selling them in foreign markets. The study, which aims to contribute to the relevant literature through its empirical methodology and industrial indicator, reveals empirical findings indicating that there is no convergence behavior for the entire sample. However, it identifies three distinct convergence clubs.

Anahtar Kelimeler

Convergence, Industry Convergence, Competetive Industrial Performance Index, Club Convergence

OECD ÜLKELERİ ARASINDA REKABETÇİ ENDÜSTRİYEL PERFORMANSIN KULÜP YAKINSAMA ANALİZİ

Öz

Sanayi sektörü, verimliliğe, ticarete, istihdama ve teknolojik ilerlemeye sağladığı pozitif katkı nedeniyle tarihsel süreç içinde büyümenin motoru olarak nitelendirilmektedir. Ülkelerin sanayi sektörleri arasındaki yakınsama dinamiklerinin belirlenmesi oldukça önem arz etmektedir. Buna karşın sanayi sektöründe yakınsama dinamiklerinin ortaya konmasına yönelik ampirik literatürün oldukça sınırlı bir düzeyde bulunduğu görülmektedir. Bu kapsamda çalışmada, 1990-2021 yıllarını kapsayan dönemde 38 OECD ülkesinde sanayi sektörünün yakınsama dinamiklerinin Kulüp Yakınsama Hipotezi çerçevesinde Phillips ve Sul (2007, 2009) yaklaşımıyla araştırılması amaçlanmaktadır. Çalışmada ilgili literatürden farklı bir sanayi sektörü göstergesi olarak Rekabetçi Sanayi Performans Endeksi kullanılmaktadır. Bu endeks, ülkelerde bulunan sanayi sektörünün performanslarının karşılaştırılmasında kullanılan önemli bir gösterge olarak kabul edilmekte ve ülkelerin sanayi mallarını rekabetçi bir şekilde üretme ve yurt dışı pazarlarda satma konusunda ne kadar başarılı olduğunu göstermektedir. Kullandığı ampirik yöntem ve sanayi göstergesi bağlamında ilgili literatüre katkı sağlamanın amaçlandığı çalışmada ulaşılan ampirik bulgular, örneklemin tümü için bir yakınsama davranışının olmadığını fakat birbirine yakınsayan üç yakınsama kulübünün bulunduğunu ortaya koymaktadır.

Anahtar Kelimeler

Yakınsama, Sanayi Yakınsaması, Rekabetçi Sanayi Performans Endeksi, Kulüp Yakınsama

Kaynakça

• Aginta, H. (2021). Spatial dynamics of consumer price in Indonesia: Convergence clubs and conditioning factors. Asia-Pacific Journal of Regional Science, 5(2), 427–451. https://doi.org/10.1007/s41685-020-00178-0
• Alataş, S., & Sarı, E. (2021). An empirical investigation on regional disparities in public expenditures: province level evidence from Turkey. Social Indicators Research, 158(1), 217–240. https://doi.org/10.1007/s11205-021-02691-x
• Apergis, N., Panopoulou, E., & Tsoumas, C. (2010). Old wine in a new bottle: Growth convergence dynamics in the EU. Atlantic Economic Journal, 38(2), 169–181. https://doi.org/10.1007/s11293-010-9219-1
• Apergis, N., Christou, C., & Miller, S. (2012). Convergence patterns in financial development: Evidence from club convergence. Empirical Economics, 43(3), 1011–1040. https://doi.org/10.1007/s00181-011-0522-8
• Apergis, N., & Payne, J. E. (2012). Convergence in U.S. house prices by state: Evidence from the club convergence and clustering procedure. Letters in Spatial and Resource Sciences, 5(2), 103–111. https://doi.org/10.1007/s12076-011-0075-7
• Bangjun, W., Linyu, C., Feng, J., & Yue, W. (2023). Research on club convergence effect and its influencing factors of per capita energy consumption: evidence from the data of 243 prefecture-level cities in China. Energy, 263(B),125657. https://doi.org/10.1016/j.energy.2022.125657
• Barro, R.J. & Sala-I-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223–251. https://doi.org/10.1086/261816
• Baumol, W. J. (1986). Productivity growth, convergence, and welfare: what the long-run data show. The American Economic Review, 76(5), 1072-1085. https://www.jstor.org/stable/1816469
• Belloc, I. & Molina, J. A. (2023) The ecological footprint in Africa: identifying convergence clubs from 1970 to 2018. Applied Economics Letters, 30:19, 2808-2813. https://doi.org/10.1080/13504851.2022.2107984
• Ceylan, R. (2010). Yakınsama Hipotezi: Teorik Tartışmalar. Sosyoekonomi, 11/11, 47-60. https://doi.org/10.17233/se.31488
• Çakır, M., & Gunduz, L. (2022). Price level convergence in Turkey. Applied Economics Letters, 29(20), 1921–1926. https://doi.org/10.1080/13504851.2021.1966362
• Meng, T. (2021). Clusters in the spread of the COVID-19 pandemic: Evidence from the G20 countries. Frontiers in Public Health, 8, 628789. https://doi.org/10.3389/fpubh.2020.628789
• Dong, F., Li, Y., Zhang, X., Zhu, J., & Zheng, L. (2021). How does industrial convergence affect the energy efficiency of manufacturing in Newly industrialized countries? Fresh evidence from China. Journal of Cleaner Production, 316,128316. https://doi.org/10.1016/j.jclepro.2021.128316
• Duarte, M., & D. Restuccia (2010). The role of the structural transformation in aggregate productivity. The Quarterly Journal of Economics, 125 (1), 129–173. https://www.jstor.org/stable/40506279
• Durlauf, S.N ve Johnson, P.A. (2018) Convergence. Macmillan Publishers Ltd (Eds.) The New Palgrave: A Dictionary of Economics (s.2247-2252). Palgrave Macmillan. https://doi.org/10.1057/978-1-349-95189-5_2376
• Erten, B., & Schwank, O. (2021). Rethinking unconditional convergence in manufacturing in the age of new Technologies. Journal of Globalization and Development, 12(1), 1-45. https://doi.org/10.1515/jgd-2020-0011
• He, W., & Chen, H. (2022). Will China’s provincial per capita energy consumption converge to a common level over 1990–2017? Evidence from a club convergence approach. Energy, 249, 123624. https://doi.org/10.1016/j.energy.2022.123624
• He, Y., Qin, R., & Wang, B. (2023). On the Club Convergence in China’s Provincial Coal Consumptions: Evidence from a Nonlinear Time-Varying Factor Model. Sustainability,15, 1881. https://doi.org/10.3390/su15031881
• Kaldor, N. (1966). Causes of the slow rate of economic growth of the United Kingdom. Cambridge University Press: Cambridge. https://doi:10.1017/S0770451800040616
• Kaldor, N. (1967). Strategic Factors in Economic Development. New York State School of Industrial and Labor Relations, Cornell University, Ithaca. https://www.jstor.org/stable/1152327
• Mendez, C. (2020). Convergence Clubs in Labor Productivity and its Proximate Sources Evidence from Developed and Developing Countries. Springer, Singapore. https://doi: 10.1007/978-981-15-8629-3-5
• Panopoulou, E., & Pantelidis, T. (2009). Club convergence in carbon dioxide emissions. Environmental and Resource Economics, 44(1), 47–70. https://doi.org/10.1007/s10640-008-9260-6
• Peng, H. R., Tan, X., Managi, S., & Taghizadeh-Hesary, F. (2022). Club convergence in energy efficiency of Belt and Road Initiative countries: The role of China’s outward foreign direct investment. Energy Policy, 168, 113139. https://doi.org/10.1016/j.enpol.2022.113139
• Phillips, P. C., & Sul, D. (2007). Transition modeling and econometric convergence tests. Econometrica, 75(6), 1771-1855. https://www.jstor.org/stable/4502048
• Phillips, P. C., & Sul, D. (2009). Economic transition and growth. Journal of applied econometrics, 24(7), 1153-1185. https://www.jstor.org/stable/25608787
• Rodrik D. (2013). Unconditional convergence in manufacturing. The Quarterly Journal of Economics, 128(1), 165–204. https://doi.org/10.1093/qje/qjs047
• Saba, C.S., & Ngepah, N. (2023) Empirics of convergence in industrialisation and their determinants: global evidence. Discover Sustainability, 4, 25. https://doi.org/10.1007/s43621-023-00136-8
• Solow, R.M. (1956). A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70, 65–94. https://doi.org/10.2307/1884513
• Tomal, M. (2022). Testing for overall and cluster convergence of housing rents using robust methodology: Evidence from Polish provincial capitals. Empirical Economics, 62(4), 2023–2055. https://doi.org/10.1007/s00181-021-02080-w
• Tomal, M. (2023). A Review of Phillips-Sul Approach-Based Club Convergence Tests. Journal of Economic Surveys, 00, 1– 32. https://doi.org/10.1111/joes.12563
• Tregenna, F. (2008). Sectoral Engines of Growth in South Africa: An Analysis of Services and Manufacturing. WIDER Working Paper Series RP2008-98, World Institute for Development Economic Research (UNU-WIDER).
• UNIDO (United Nations Industrial Development Organization) (2017). Competitive Industrial Performance Report 2016. UNIDO, Vienna. https://stat.unido.org/cip/
• UNIDO (United Nations Industrial Development Organization) (2018). “Industrial Development in Least Developed Countries.” In: Department of Policy, Research and Statistics, Working Paper, 26/2018.
• UNIDO (United Nations Industrial Development Organization) (2019). Competitive Industrial Performance Report 2018. Vienna: UNIDO. https://www.unido.org.
• UNIDO (United Nations Industrial Development Organization) (2020a). Competitive Industrial Performance Report 2020. UNIDO, Vienna. https://stat.unido.org/cip/
• UNIDO (United Nations Industrial Development Organization) (2020b). African Industrialization Competitiveness Report. Vienna: UNIDO. https://www.unido.org.
• UNIDO (United Nations Industrial Development Organization) (2022). Industrial Development Report 2022 The Future of İndustrialization in a Post-Pandemic World, https://www.unido.org.
• Ursavaş, U., & Mendez, C. (2022). Regional income convergence and conditioning factors in Turkey: revisiting the role of spatial dependence and neighbor effects. The Annals of Regional Science, 71, 363–389. https://doi.org/10.1007/s00168-022-01168-0
• Young, A. T., Higgins, M. J., & Levy, D. (2008). Sigma convergence versus beta convergence: Evidence from U.S. county-level data. Journal of Money, Credit and Banking, 40(5), 1083–1093. https://doi.org/10.1111/j.1538-4616.2008.00148.x
• Youkta, K., & Paramanik, R. N. (2022). Convergence analysis of health expenditure in Indian states: Do political factors matter? GeoJournal, 87(3), 1469–1478. https://doi.org/10.1007/s10708-020-10313-1