Table 6.

Panel data regression estimates

Variable	Green financing		Renewable energy mix
EE	− 0.0451*** (0.0006)			− 0.0392*** (0.0001)
RE		− 0.0556*** (0.0003)
GF			− 0.0459*** (0.0000)
NRE				− 0.0573*** (0.0001)
K	− 0.259*** (0.000)	− 0.044*** (0.0001)	− 0.112*** (0.0005)	− 0.0586*** (0.0007)
FDI	0.663 (0.000)	0.617* (0.000)	0.321 (0.001)	0.443* (0.000)
GDP	0.567*** (0.001)	0.544*** (0.005)	0.411*** (0.002)	0.3590*** (0.001)
EE
RE	3.0111*** (0.000)	2.001*** (0.000)	2.0149*** (0.000)	2.0359*** (0.000)
Constant	1.569 (0.000)	1.585*** (0.000)	1.325*** (0.000)	1.1313*** (0.000)
AR (1) test	− 2.0478 [0.031]	− 2.0667 [0.037]	− 2.011 [0.024]	− 2.390 [0.011]
AR (2) test	− 1.1554 [0.159]	− 1.3361 [0.171]	− 1.1331 [0.124]	− 1.2212 [0.111]
Sargan test	21.0032 [0.074]	19.4914 [0.066]	22.0001 [0.21]	19.2516 [0.29]
Wald test	131,191 [0]	261,783 [0]	203,580 [0]	49,510 [0]

Note: Standard errors are in parentheses (). *** = 1% significant level, ** = 5% significant level, and * = 10% significant level