Table 12.
Panel FMOLS, GMM, and quantile regression outputs following Eq. (2)
| Dependent variable: CO2-PC | Coefficient | Std. error | t-stat | Prob. |
|---|---|---|---|---|
| Panel FMOLSa,b,c,d,e,f,g | ||||
| GDP_PC | 0.294130 | 0.035630 | 8.255118 | 0.0000 |
| GDP_PCb | − 1.22E-06 | 5.49E-07 | − 2.225666 | 0.0263 |
| Electricity_Fossil | 24.88699 | 3.768459 | 6.604022 | 0.0000 |
| Panel GMMa,b,h,i | ||||
| GDP_PC | 0.295856 | 0.000532 | 555.8879 | 0.0000 |
| GDP_PCb | − 1.25E-06 | 4.97E-09 | − 250.9368 | 0.0000 |
| Electricity_Fossil | 26.70729 | 0.091923 | 290.5401 | 0.0000 |
| Panel quantile regression (0.25)a,b,j,k | ||||
| GDP_PC | 0.481137 | 0.031865 | 15.09914 | 0.0000 |
| GDP_PCb | − 6.45E-06 | 7.60E-07 | − 8.485483 | 0.0000 |
| Electricity_Fossil | 3.172770 | 1.153612 | 2.750291 | 0.0061 |
| Panel quantile regression (0.50)a,b,j,k | ||||
| GDP_PC | 0.687465 | 0.035834 | 19.18451 | 0.0000 |
| GDP_PCb | − 1.01E-05 | 1.27E-06 | − 7.942059 | 0.0000 |
| Electricity_Fossil | 5.410547 | 1.309292 | 4.132423 | 0.0000 |
| Panel quantile regression (0.75)a,b,j,k | ||||
| GDP_PC | 0.623495 | 0.102264 | 6.096909 | 0.0000 |
| GDP_PCb | − 3.87E-06 | 1.54E-06 | − 2.516744 | 0.0120 |
| Electricity_Fossil | 33.47263 | 4.375306 | 7.650354 | 0.0000 |
aCross-sections included: 36
bTotal panel (balanced) observations: 792
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