Table 6.
Long-run estimates
| DV: | Model-one: CO2e | Model-two: Y | Model-three: TOR | Model-four: FDI | Model-five: RE |
|---|---|---|---|---|---|
| Variable(s): | (Y, TOR, FDI, RE) | (CO2e, TOR, FDI, RE) | (CO2e, Y, FDI, RE) | (CO2e, Y, TOR, RE) | (CO2e, Y, TOR, FDI) |
| CO2e | – | 1.194b[0.547] | − 1.243a [0.053] | 1.661b [0.652] | − 0.782a [0.135] |
| Y | 0.524a [0.045] | – | 0.303a [0.073] | 1.704c [0.943] | 0.559a [0.008] |
| TOR | 0.016a [0.003] | 0.030b [0.012] | – | − 0.298c [0.151] | 0.038c [0.020] |
| FDI | 0.032a [0.007] | 0.0447b [0.021] | − 0.151 [0.116] | – | − 0.022 [0.026] |
| RE | − 0961a [0.076] | 0.305 [0.916] | 0.529a [0.032] | 0.040b [0.017] | – |
| DUM | − 0.070a [0.023] | 5.874 [3.450] | − 0.161 [0.343] | − 2.584b [0.942] | − 0.045b [0.017] |
Level of the sig. a = 1% (p < 0.01), b = 5% (p < 0.05) and at c = 10% (p < 0.1); DV is used for dependent variables, values in [] are standard errors, where DUM indicates dummy variable