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Diagnostic test estimates for Eq. (2)
| Variables | VIF | Other tests |
|---|---|---|
| ln(CDAM) | 7.158 |
JB test: 0.941 Prob. Value: (0.624) |
| ln(SQCDAM) | 9.143 |
Autocorrelation LM test: 1.646 Prob. Value: (0.245) |
| ln(ESR) | 1.202 |
Heteroskedasticity test: 0.581 Prob. Value: (0.713) |
| ln(CPI) | 1.235 | |
| ln(MS) | 2.347 |
Note: CDAM shows carbon damages, SQDAM shows a square of CDAM, CPI shows inflation, ESR shows environmental sustainability rating, GDPPC shows per capita GDP and MS shows money supply
