Table 6.

Dynamic panel GMM and VAR granger causality estimates.

Variables	Coefficient	Standard Error	t-statistics	Probability value
POV_HCR(-1)	0.778	0.048	15.940	0.000
COM_DIS	0.006a	0.003	1.940	0.052
CHEM	0.073	0.163	0.452	0.651
CHEM × CO2	0.002938a	0.001673	1.755	0.079
CHEM × FFUEL	0.000370a	0.000202	1.829	0.067
GDPpc	−3.08E-05	1.66E-05	−1.856	0.064
SQGDPpc	3.21E-10	1.74E-10	1.843	0.065
HLT_EXP	0.000166a	9.41E-05	1.763	0.078
LB_HWF	0.010a	0.003	3.334	0.000
POP_DEN	−0.000141	0.001488	−0.094437	0.924
Statistical Tests
J-statistic	24.715 (0.590)	Prob. J-statistic	0.590
Instrumental rank	37	AR(1)	−2.906 (0.003)
		AR(2)	1.360 (0.173)
VAR Granger Causality by Wald Test
LB_HWF→COM_DIS	POP_DEN→CHEM × CO2	CHEM × CO2→GDPpc	HLTEXP→GDPpc	POP_DEN→GDPpc
CHEM→HLT_EXP	CHEM × FFUEL→HLT_EXP

Note:

^ashows value estimated on the basis of exclusion criteria.. → shows unidirectional relationship between the variables.