Table 11.
Panel FMOLS, GMM, and quantile regression outputs following Eq. (1)
| Dependent variable: CO2-PC | Coefficient | Std. error | t-stat | Prob. |
|---|---|---|---|---|
| Panel FMOLSa,b,c,d,e,f,g | ||||
| GDP_PC | 0.340558 | 0.039497 | 8.622437 | 0.0000 |
| GDP_PCb | − 1.88E-06 | 7.06E-07 | − 2.670099 | 0.0077 |
| Panel GMMa,b,h,i | ||||
| GDP_PC | 0.284117 | 8.31E-05 | 3418.667 | 0.0000 |
| GDP_PCb | − 1.37E-06 | 8.27E-10 | − 1653.708 | 0.0000 |
| Panel quantile regression (0.25)a,b,j,k | ||||
| GDP_PC | 0.530069 | 0.026371 | 20.10048 | 0.0000 |
| GDP_PCb | − 7.43E-06 | 6.80E-07 | − 10.91799 | 0.0000 |
| Panel quantile regression (0.50)a,b,j,k | ||||
| GDP_PC | 0.760386 | 0.022561 | 33.70431 | 0.0000 |
| GDP_PCb | − 1.15E-05 | 9.28E-07 | − 12.33841 | 0.0000 |
| Panel quantile regression (0.75)a,b,j,k | ||||
| GDP_PC | 1.041590 | 0.040445 | 25.75333 | 0.0000 |
| GDP_PCb | − 1.00E-05 | 6.40E-07 | − 15.63943 | 0.0000 |
aCross-sections included: 36
bTotal panel (balanced) observations: 936
cPanel method: Pooled estimation
dCointegrating equation deterministic: C
eAdditional regressors deterministic: @TREND
fCoefficient covariance computed using the sandwich method (heterogeneous variance structure)
gLong-run covariance estimates (Bartlett kernel, Newey-West fixed
hInstrument specification: @DYN (CO2_PC,-2) GDP_PC
iConstant added to the instrument list
jHuber heterogeneous standard errors and covariance
kSparsity method: Kernel (Epanechnikov) using residuals