Does biomass material footprint converge? Evidence from club convergence analysis.

Although several studies explored the issue of CO/Ecological footprint convergence across the countries, study on biomass material footprint (BMF) convergence is scant. This study bridges this research gap by examining the "BMF convergence hypothesis" across 172 countries for the period from 1990 to 2017. To attain our objective, we use the novel Phillips and Sul (J Appl Econom 24(7):1153-1185, 2007a; Econometrica 75:1771-1855, 2007b) approach. We find that there is no evidence of convergence, while 172 countries are taken together. This implies that all the countries together are having different transition paths. Thus, Phillips and Sul test implements the clustering algorithms to identify the club convergence. Our results show the existence of six different steady-state (or club convergence) equilibriums for BMF. Thus, our findings show that climate change policies are required to be designed as per the existing clubs of the sample countries.