Table 8.

AMG estimation results

Variable	Coefficient	Statistics
POP	0.04	13.49*
GDPPC	0.118	13.68*
EI	0.09	4.983**
GB	−1.01	17.59*
GEI	−0.92	10.29*

Note: POP, GDPPC, EI, GB, and GEI indicate population, GDP per capita, energy intensity, issued green bonds, and green energy index, respectively; * and ** show significance at 5% and 10%, respectively.

Source: Authors’ calculation