Table 1.
Comparison of fixed and random effect models.
| (1) | (2) | (3) | |
|---|---|---|---|
| Dep. Var: Log of CO2 Emission | Fixed Effect Model | Random Effect Model | Difference (Fixed−Random) |
| Log of Urbanization | 1.230 *** | 0.617 *** | 0.613 *** |
| (0.161) | (0.191) | (0.0789) | |
| Log of GDP | 0.250 *** | 0.573 *** | −0.323 *** |
| (0.0530) | (0.0552) | (0.039) | |
| Log of Trade Openness | 0.176 *** | −0.0239 | 0.199 *** |
| (0.0598) | (0.0681) | (0.035) | |
| Constant | −0.441 | −6.029 *** | |
| (1.261) | (1.383) | ||
| Observations (N) | 313 | 313 | 313 |
| R−squared | 0.803 | ||
| Hausman Test (Prob > chi2) | 0.0000 | ||
| Number of country1 | 9 | 9 | 9 |
Robust standard errors in parentheses *** p < 0.01, * p < 0.1.