Table 4.
The result of the panel data regression
| Energy consumption | CO2 emission | |||
|---|---|---|---|---|
| Constant | 1.033 (0.112) | 1.023*** (0.1114) | 1.132*** (0.0321) | 1.121*** (0.0321) |
| SClogistics | 0.019*** (0.147) | |||
| Energy consump | 0.0232*** (0.114) | |||
| CO2 emission | 0.019*** (0.0023) | |||
| GDP(t − 1) | 0.0342*** (0.0331) | |||
| Financial aid | − 0.023*** (0.0010) | − 0.0234*** (0.0011) | − 0.0274*** (0.0112) | − 0.0211*** (0.0212) |
| Tax cut | 0.013 (0.012) | 0.0136* (0.002) | 0.0199 (0.014) | 0.0233* (0.003) |
| Subsidy | 0.0222*** (0.032) | 0.0223*** (0.036) | 0.053*** (0.022) | 0.0323*** (0.01121) |
| Insurance | 0.0114** (0.002) | 0.0114*** (0.003) | 0.011*** (0.002) | 0.012*** (0.002) |
| AR(1) test | − 2.033 [0.023] | − 2.057 [0.024] | − 2.212 [0.012] | − 2.5242 [0.015] |
| AR(2) test | − 1.121 [0.132] | − 1.172 [0.112] | − 1.321 [0.132] | − 1.001 [0.162] |
| Sargan test | 15.321 [0.042] | 14.227 [0.042] | 13.643 [0.13] | 13.635 [0.119] |
| Wald test | 147,364 [0] | 237,463 [0] | 283,743 [0] | 18,273 [0] |
| N | 272 | 272 | 272 | 272 |
FI financial aid, S subsidy, TC tax cut
Standard errors are in parentheses (). ***1% significant level; **5% significant level and *10% significant level