Table 3.

Panel CIPS and CADF unit root test

Variables	CIPS		CADF		Decision
	I(1)		I(1)
	C	C&T	C	C&T
LnCO2	− 5.185*	− 5.264*	− 5.868*	− 3.544*	I(1)
LnTR	− 4.742*	− 4.859*	− 3.250*	− 3.274*	I(1)
LnRGDP	− 3.713*	− 3.930*	− 4.416*	− 4.331*	I(1)
LnRGDP2	− 3.296*	− 3.618*	− 2.484*	− 2.954*	I(1)
FDI	− 4.925*	− 4.957*	− 3.413*	− 3.435*	I(1)
LnDC	− 3.626*	− 3.815*	− 3.550*	− 3.803*	I(1)

^* < 0.01, ** < 0.05, *** < 0.10