Table 6.

Empirical results of empirical model.

Dep. Var. MI	Coefficients
	[Std. Error]
	FMOLS	DOLS	CCR
GHG	0.314*** [0.0361]	0.361*** [0.0462]	0.345*** [0.0321]
GDP	−0.033*** [0.0031]	−0.033*** [0.0043]	−0.030*** [0.0034]
GE	0.037*** [0.0038]	0.035*** [0.0037]	0.024*** [0.0021]
RQ	0.0044 [0.0032]	0.0011 [0.0014]	0.0010 [0.0040]
GHE	0.0421** [0.0048]	0.0411** [0.0037]	0.034* [0.0031]
Constant	29.693*** [0.2319]	26.897*** [0.2637]	28.984*** [0.2379]

Significance is indicated by 10, 5, and 1% through *, **, and ***. The standard error is provided in the brackets.