Table 3.
Regression estimates panel FGLS model
| Dep. var = LCO2P | ||||||
|---|---|---|---|---|---|---|
| Model | PDI | IDV | MAS | UAI | LTWVS | IVR |
| Variables | Coef (Prob) | Coef (Prob) | Coef (Prob) | Coef (Prob) | Coef (Prob) | Coef (Prob) |
| LGNI | −1.925 (0.00)*** | −0.278 (0.65) | 4.621 (0.00)*** | 1.666 (0.51) | 9.712 (0.00)*** | −4.216 (0.00)*** |
| LGNI2 | 0.040 (0.00)*** | 0.006 (0.63) | −0.087 (0.00)*** | −0.018 (0.71) | −0.180 (0.00)*** | 0.086 (0.00)*** |
| LREN | −0.616 (0.00)*** | −0.577 (0.00)*** | −0.724 (0.00)*** | −0.221 (0.00)*** | −0.309 (0.00)*** | −0.355 (0.00)*** |
| LPD | −0.252 (0.00)*** | −0.230 (0.00)*** | −0.324 (0.00)*** | −0.876 (0.00)*** | −0.178 (0.00)*** | −0.083 (0.00)*** |
| CUL | −0.581 (0.00)*** | −0.364 (0.03)** | 1.017 (0.00)*** | 0.849 (0.07)* | 1.424 (0.00)*** | −2.061 (0.00)*** |
| LGNI*CUL | 0.045 (0.00)*** | 0.029 (0.02)** | −0.079 (0.00)*** | −0.059 (0.09)* | −0.104 (0.00)*** | 0.160 (0.00)*** |
| LGNI2*CUL | −0.001 (0.00)*** | −0.001 (0.02)** | 0.001 (0.00)*** | 0.001 (0.11) | 0.002 (0.00)*** | −0.003 (0.00)*** |
| Const | 28.204 (0.00)*** | 6.376 (0.49) | −55.71 (0.00)*** | −29.38 (0.38) | −128.1 (0.00)*** | 53.73 (0.00)*** |
| Statistics | ||||||
| Cutoff Value at CUL = 0 | 24.06 | 23.17 | 26.56 | 46.28 | 26.97 | 24.51 |
| Wald (prob) | 8045.5 (0.00)*** | 5651.6 (0.00)*** | 4276.4 (0.00)*** | 3875 (0.00)*** | 2710 (0.00)*** | 3240 (0.00)*** |
| Sample | 408 | 408 | 408 | 408 | 408 | 408 |
| Countries | 49 | 49 | 49 | 49 | 49 | 49 |
***Significant at 1%, **significant at 5%, *significant at 10%