Table 7.
Impact of ECO on carbon emissions: National level
| Variable | Coefficient | Fixed Effect | ||
|---|---|---|---|---|
| Direct Effect | Indirect Effect | Total Effect | ||
| ECO | 0.825 *** | 0.609 ** | −4.970 *** | −4.362 *** |
| (2.625) | (1.967) | (−5.405) | (−4.646) | |
| GEN | 4.972 *** | 4.962 *** | −1.663 | 3.299 * |
| (2.949) | (2.983) | (−0.705) | (1.665) | |
| ECO *GEN | 1.234 *** | 0.917 ** | −7.278 *** | −6.361 *** |
| (2.647) | (1.994) | (−5.569) | (−4.753) | |
| W*ECO | −1.945 *** | |||
| (−5.199) | ||||
| W*GEN | −4.111 ** | |||
| (−2.390) | ||||
| W* ECO *GEN | −2.868 *** | |||
| (−5.279) | ||||
| W*CO2 | 0.740 *** | |||
| (18.357) | ||||
| Model | SSDM | |||
| Weight matrix | K8 | |||
| Period fixed effects | YES | |||
| Space fixation effect | YES | |||
| R2 | 0.661 | |||
| log-likelihood | −318,869.65 | |||
Note: * indicates significant at the 10% level; ** indicates significant at the 5% level; *** indicates significant at the 1% level.