. 2022 Jun 8;29(51):77199–77237. doi: 10.1007/s11356-022-21107-y

Table 9.

Dynamic ARDL simulations analysis

	InEFP(Ecological footprint)
	(1)	(2)	(3)	(4)	(5)
Cons	-1.0075** (-2.48)	-1.0653* (-0.69)	-1.0771 (0.17)	-1.0690*** (-3.43)	-1.0631** (-2.30)
$In {SE}_{t - 1}$	0.3188 (0.29)	0.3041** (2.42)	0.2402** (2.68)	0.3153 (1.84)	0.2093** (2.51)
$Δ I n {SE}_{t}$	0.4029** (2.37)	0.5559** (2.52)	0.4091 (1.15)	0.5227 (1.41)	0.5972 (0.59)
${InTE}_{t - 1}$	-0.6924*** (-3.62)	-0.7074*** (-3.02)	-0.7173 (-0.34)	-0.6901*** (-3.82)	-0.7160 (-0.48)
$Δ In {TE}_{t}$	-0.8123 (-0.86)	-0.8081 (-0.65)	-0.8152 (-1.40)	-0.7928** (-3.30)	-0.8179** (-2.35)
${InEPU}_{t - 1}$	0.2013*** (3.41)	1.7528 (1.05)	1.0517*** (3.83)	1.0170** (2.48)	1.1825*** (4.71)
$Δ {InEPU}_{t}$	0.5010*** (4.51)	0.5192** (3.88)	0.5081** (2.50)	0.5192 (1.02)	0.4806*** (3.92)
${InEI}_{t - 1}$	0.8152** (2.47)	0.8163 (0.64)	0.7988*** (3.52)	0.8160*** (3.37)	0.7862 (1.34)
$Δ {InEI}_{t}$	0.2053** (2.59)	0.1161 (1.50)	0.1362 (0.71)	0.1182** (2.48)	0.1450** (2.51)
$I n ({EI}_{t - 1} * {EPU}_{t - 1})$		0.2061*** (4.28)
$Δ In ({EI}_{t} * {EPU}_{t})$		0.2793 (0.52)
${InREC}_{t - 1}$	-0.3013 (-0.51)	-0.3024** (-2.48)	0.3010** (2.32)	-0.2615** (-2.58)	-0.3014 (-0.46)
$Δ {InREC}_{t}$	-0.6005*** (-3.96)	-0.6183** (-2.45)	0.6034** (2.47)	-0.6005*** (-3.82))	-0.6168** (-2.50)
$I n ({REC}_{t - 1} * {EPU}_{t - 1})$			0.5011*** (3.62)
$Δ In ({REC}_{t} * {EPU}_{t})$			0.2044 (1.21)
${InNREC}_{t - 1}$	0.4298*** (3.11)	0.4193** (2.46)	0.4202** (2.50)	-0.4515** (2.53)	0.4100** (2.45)
$Δ {InNREC}_{t}$	0.1758** (2.50)	0.1401 (0.46)	0.1733* (1.99)	-0.1708*** (3.88)	0.1536** (2.40)
$I n ({NREC}_{t - 1} * {EPU}_{t - 1})$				0.3050** (2.43)
$Δ In ({NREC}_{t} * {EPU}_{t})$				0.2604 (0.18)
${InECI}_{t - 1}$	0.5214** (2.46)	0.5084** (2.58)	0.5053 (1.36)	0.5023** (2.55)	0.5825*** (3.38)
$Δ {InECI}_{t}$	0.2509** (2.55)	0.2016** (2.48)	0.2368*** (3.34)	0.2104** (2.48)	0.2304** (2.59)
$I n ({ECI}_{t - 1} * {EPU}_{t - 1})$					-0.2010** (-2.54)
$Δ In ({ECI}_{t} * {EPU}_{t})$					-0.1701** (-2.58)
${InOPEN}_{t - 1}$	0.1067*** (3.70)	0.1024** (2.30)	0.1166** (2.59)	0.1288** (2.36)	0.1318** (2.26)
$Δ {InOPEN}_{t}$	0.2610** (2.63)	0.2205** (2.25)	0.2278 (0.54)	0.2178** (2.48)	0.2076** (2.25)
${InTECH}_{t - 1}$	-0.1088 (-0.28)	-0.1441** (-2.41)	-0.1302 (-0.65)	-0.1953 (-1.85)	-0.1493** (-2.54)
$Δ {InTECH}_{t}$	-0.2029** (-2.38)	-0.3559** (-2.53)	-0.2091 (-1.17)	-0.3227 (-1.44)	-0.4972 (-0.57)
ECT(-1)	-0.8164*** (-3.04)	-0.8014*** (-3.83)	-0.8117*** (-3.10)	-0.8162*** (-3.27)	-0.8071*** (-3.02)
R-squared	0.7507	0.7300	0.7522	0.7304	0.7411
Adj R-squared	0.7014	0.7022	0.7108	0.7004	0.7208
N	60	60	60	60	60
P val of F-sta	0.0000***	0.0000***	0.0000***	0.0000***	0.0000***
Simulations	1000	1000	1000	1000	1000

InEFP(Ecological footprint)

(1)

(2)

(3)

(4)

(5)

Cons

-1.0075**

(-2.48)

-1.0653*

(-0.69)

-1.0771

(0.17)

-1.0690***

(-3.43)

-1.0631**

(-2.30)

In {SE}_{t - 1}

0.3188

(0.29)

0.3041**

(2.42)

0.2402**

(2.68)

0.3153

(1.84)

0.2093**

(2.51)

Δ I n {SE}_{t}

0.4029**

(2.37)

0.5559**

(2.52)

0.4091

(1.15)

0.5227

(1.41)

0.5972

(0.59)

{InTE}_{t - 1}

-0.6924***

(-3.62)

-0.7074***

(-3.02)

-0.7173

(-0.34)

-0.6901***

(-3.82)

-0.7160

(-0.48)

Δ In {TE}_{t}

-0.8123

(-0.86)

-0.8081

(-0.65)

-0.8152

(-1.40)

-0.7928**

(-3.30)

-0.8179**

(-2.35)

{InEPU}_{t - 1}

0.2013***

(3.41)

1.7528

(1.05)

1.0517***

(3.83)

1.0170**

(2.48)

1.1825***

(4.71)

Δ {InEPU}_{t}

0.5010***

(4.51)

0.5192**

(3.88)

0.5081**

(2.50)

0.5192

(1.02)

0.4806***

(3.92)

{InEI}_{t - 1}

0.8152**

(2.47)

0.8163

(0.64)

0.7988***

(3.52)

0.8160***

(3.37)

0.7862

(1.34)

Δ {InEI}_{t}

0.2053**

(2.59)

0.1161

(1.50)

0.1362

(0.71)

0.1182**

(2.48)

0.1450**

(2.51)

I n ({EI}_{t - 1} * {EPU}_{t - 1})

0.2061***

(4.28)

Δ In ({EI}_{t} * {EPU}_{t})

0.2793

(0.52)

{InREC}_{t - 1}

-0.3013

(-0.51)

-0.3024**

(-2.48)

0.3010**

(2.32)

-0.2615**

(-2.58)

-0.3014

(-0.46)

Δ {InREC}_{t}

-0.6005***

(-3.96)

-0.6183**

(-2.45)

0.6034**

(2.47)

-0.6005***

(-3.82))

-0.6168**

(-2.50)

I n ({REC}_{t - 1} * {EPU}_{t - 1})

0.5011***

(3.62)

Δ In ({REC}_{t} * {EPU}_{t})

0.2044

(1.21)

{InNREC}_{t - 1}

0.4298***

(3.11)

0.4193**

(2.46)

0.4202**

(2.50)

-0.4515**

(2.53)

0.4100**

(2.45)

Δ {InNREC}_{t}

0.1758**

(2.50)

0.1401

(0.46)

0.1733*

(1.99)

-0.1708***

(3.88)

0.1536**

(2.40)

I n ({NREC}_{t - 1} * {EPU}_{t - 1})

0.3050**

(2.43)

Δ In ({NREC}_{t} * {EPU}_{t})

0.2604

(0.18)

{InECI}_{t - 1}

0.5214**

(2.46)

0.5084**

(2.58)

0.5053

(1.36)

0.5023**

(2.55)

0.5825***

(3.38)

Δ {InECI}_{t}

0.2509**

(2.55)

0.2016**

(2.48)

0.2368***

(3.34)

0.2104**

(2.48)

0.2304**

(2.59)

I n ({ECI}_{t - 1} * {EPU}_{t - 1})

-0.2010**

(-2.54)

Δ In ({ECI}_{t} * {EPU}_{t})

-0.1701**

(-2.58)

{InOPEN}_{t - 1}

0.1067***

(3.70)

0.1024**

(2.30)

0.1166**

(2.59)

0.1288**

(2.36)

0.1318**

(2.26)

Δ {InOPEN}_{t}

0.2610**

(2.63)

0.2205**

(2.25)

0.2278

(0.54)

0.2178**

(2.48)

0.2076**

(2.25)

{InTECH}_{t - 1}

-0.1088

(-0.28)

-0.1441**

(-2.41)

-0.1302

(-0.65)

-0.1953

(-1.85)

-0.1493**

(-2.54)

Δ {InTECH}_{t}

-0.2029**

(-2.38)

-0.3559**

(-2.53)

-0.2091

(-1.17)

-0.3227

(-1.44)

-0.4972

(-0.57)

ECT(-1)

-0.8164***

(-3.04)

-0.8014***

(-3.83)

-0.8117***

(-3.10)

-0.8162***

(-3.27)

-0.8071***

(-3.02)

R-squared

0.7507

0.7300

0.7522

0.7304

0.7411

Adj R-squared

0.7014

0.7022

0.7108

0.7004

0.7208

P val of F-sta

0.0000***

Simulations

1000

Source: Authors’ calculations

*, ** and *** denote statistical significance at 10%, 5% and 1% levels, respectively

T-values in parentheses