Table 4.
Long-run elasticity estimates from the panel regression analyses
| Dep. var. | Model (1) | Model (2) | Model (3) | ||||||
|---|---|---|---|---|---|---|---|---|---|
| lnREC | lnRES | lnRELECS | |||||||
| Estimator | MG | CCEMG | AMG | MG | CCEMG | AMG | MG | CCEMG | AMG |
| lnROILP | − 3.200*** (0.729) | − 2.347*** (0.566) | − 3.593*** (0.710) | − 0.988** (0.415) | − 0.610*** (0.021) | − 0.912** (0.450) | − 2.123*** (0.324) | − 3.167*** (1.012) | − 2.644*** (0.412) |
| lnROILP2 | 0.140** (0.069) | 0.096* (0.054) | 0.112** (0.509) | 0.057** (0.025) | 0.009*** (0.005) | 0.067*** (0.012) | − 0.024** (0.013) | − 0.048** (0.023) | − 0.171*** (0.024) |
| lnRGDP | 0.491*** (0.081) | 0.637*** (0.062) | 0.487** (0.243) | − 0.112** (0.045) | − 0.099*** (0.014) | − 0.121** (0.059) | 1.851*** (0.420) | 2.592*** (0.991) | 1.347*** (0.807) |
| lnROILP * lnRGDP | 0.073*** (0.019) | 0.053*** (0.015) | 0.080*** (0.012) | 0.015 (0.011) | 0.001 (0.001) | 0.013 (0.015) | 1.016 (0.729) | 1.029 (1.023) | 1.332 (1.000) |
| lnDEPEND | − 0.211*** (0.047) | − 0.169*** (0.024) | − 0.239** (0.124) | − 0.154*** (0.027) | − 0.134*** (0.015) | − 0.160*** (0.031) | − 0.458** (0.231) | − 0.229*** (0.088) | − 0.477*** (0.114) |
| lnCO2 | 0.678*** (0.062) | 0.605*** (0.037) | 0.722*** (0.090) | − 0.229*** (0.028) | − 0.245*** (0.022) | − 0.232** (0.110) | − 1.312*** (0.503) | − 0.747** (0.036) | − 0.992** (0.462) |
| lnTO | 0.281*** (0.071) | 0.232*** (0.044) | 0.292*** (0.065) | − 0.177*** (0.041) | − 0.135*** (0.023) | − 0.180** (0.053) | − 0.353 (0.291) | − 0.538 (0.393) | − 0.217 (0.259) |
The standard errors are reported within the parentheses
***, **, *Statistical significance at 1%, 5% and 10% levels, respectively