Table 8.
Variable | FMOLS | DOLS | ||||
---|---|---|---|---|---|---|
Coefficient | t-statistic | Prob. | Coefficient | t-statistic | Prob. | |
CO2 | 0.1443** | 2.5057 | 0.017 | 0.2370** | 2.4821 | 0.017 |
EC | 0.2437* | 2.8833 | 0.006 | 0.2332** | 2.3277 | 0.025 |
GCF | 0.0574 | 1.3338 | 0.185 | 0.0486 | 1.3770 | 0.177 |
URB | 2.0115** | 2.5782 | 0.014 | 1.9218** | 2.5067 | 0.016 |
R2 | 0.98 | 0.98 | ||||
Adj R2 | 0.97 | 0.97 |
Note: * and ** represents 1% and 5% level of significance respectively