Table 13.
Panel FMOLS, GMM, and quantile regression outputs following Eq. (3)
| Dependent variable: CO2-PC | Coefficient | Std. error | t-stat | Prob. |
|---|---|---|---|---|
| Panel FMOLSa,b,c,d,e,f,g | ||||
| GDP_PC | 0.719818 | 0.045065 | 15.97303 | 0.0000 |
| GDP_PCb | − 5.31E-06 | 5.37E-07 | − 9.885870 | 0.0000 |
| Electricity_Fossil | 10.50434 | 3.033516 | 3.462761 | 0.0006 |
| Gov_Health_Expend | − 0.595650 | 0.153190 | − 3.888313 | 0.0001 |
| Priv_Health_Expend | − 2.732644 | 0.405639 | − 6.736649 | 0.0000 |
| Panel GMMa,b,h,i | ||||
| CO2_PC(-1) | 0.809282 | 0.001465 | 552.5077 | 0.0000 |
| GDP_PC | 0.152405 | 0.001493 | 102.0645 | 0.0000 |
| GDP_PCb | − 1.19E-06 | 1.04E-08 | − 115.2795 | 0.0000 |
| Electricity_Fossil | 2.944487 | 0.284901 | 10.33514 | 0.0000 |
| Gov_Health_Expend | 0.147838 | 0.015304 | 9.659976 | 0.0000 |
| Priv_Health_Expend | − 1.022370 | 0.006690 | − 152.8315 | 0.0000 |
| Panel quantile regression (0.25)a,b,j,k | ||||
| GDP_PC | 0.600204 | 0.084088 | 7.137765 | 0.0000 |
| GDP_PCb | − 8.34E-06 | 1.64E-06 | − 5.100121 | 0.0000 |
| Electricity_Fossil | 2.000591 | 1.725928 | 1.159139 | 0.2469 |
| Gov_Health_Expend | − 0.561268 | 0.501371 | − 1.119465 | 0.2634 |
| Priv_Health_Expend | − 0.892004 | 0.751940 | − 1.186269 | 0.2360 |
| Panel Quantile Regression (0.50)a,b,j,k | ||||
| GDP_PC | 0.949234 | 0.059301 | 16.00703 | 0.0000 |
| GDP_PCb | − 1.24E-05 | 1.34E-06 | − 9.309408 | 0.0000 |
| Electricity_Fossil | 3.171701 | 1.669577 | 1.899704 | 0.0580 |
| Gov_Health_Expend | − 2.276137 | 1.181928 | − 1.925782 | 0.0546 |
| Priv_Health_Expend | − 2.510034 | 0.687600 | − 3.650428 | 0.0003 |
| Panel Quantile Regression (0.75)a,b,j,k | ||||
| GDP_PC | 1.272247 | 0.158397 | 8.031999 | 0.0000 |
| GDP_PCb | − 1.29E-05 | 2.13E-06 | − 6.050764 | 0.0000 |
| Electricity_Fossil | 21.50194 | 5.150120 | 4.175036 | 0.0000 |
| Gov_Health_Expend | − 6.047287 | 0.965807 | − 6.261381 | 0.0000 |
| Priv_Health_Expend | − 4.324684 | 1.307909 | − 3.306563 | 0.0010 |
aCross-sections included: 36
bTotal panel (balanced) observations: 573
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