Table 8.

Results of asymmetric ARDL model.

	Whole Sample	Countries with Ecological Deficits	Countries with Ecological Reserves
Long run
lnREC+	−0.103 (0.017) *	−0.025 (0.018)	−0.165 (0.062) *
lnREC−	0.107 (0.016) *	−0.043 (0.017) **	−0.132 (0.051) *
lnNRR+	0.004 (0.024)	0.103 (0.016) *	−0.179 (0.033) *
lnNRR−	0.019 (0.023)	0.108 (0.015) *	−0.178 (0.038) *
lnGDP+	0.195 (0.079) **	0.123 (0.020) *	−0.086 (0.019) *
lnGDP−	0.124 (0.067) *	0.150 (0.022) *	−0.088 (0.019) *
lnGE+	0.391 (0.044) *	−0.226 (0.186)	0.413 (0.061) *
lnGE−	0.392 (0.045) *	−0.298 (0.187)	0.333 (0.556) *
lnURB+	−0.204 (0.027) ***	−0.101 (0.034) *	−0.404 (0.041) *
lnURB−	−0.498 (0.342)	−1.815 (49.929)	−0.213 (0.021)
lnHC+	0.012 (0.122)	−0.669 (0.037) ***	−0.439 (0.051) *
lnHC−	0.696 (0.635)	−2.916 (0.955) *	−2.502 (0.363) *
Short run
ECT (−1)	−0.509 (0.063) *	−0.409 (0.079) *	−0.419 (0.078) *
∆lnREC+	−0.015 (0.011) ***	−0.005 (0.221)	0.029 (0.059)
∆lnREC−	−3.013 (0.013)	0.004 (0.019)	0.032 (0.008)
∆lnNRR+	0.012 (0.012)	−0.024 (0.011) **	0.158 (0.027)
∆lnNRR−	0.013 (0.013)	−0.026 (0.012) **	0.032 (0.033)
∆lnGDP+	0.351 (0.158) **	0.089 (0.294) *	0.136 (0.274)
∆lnGDP−	0.344 (0.133) **	0.480 (0.261) ***	0.116 (0.268)
∆lnGE+	−0.144 (0.166)	−0.005 (0.155)	0.563 (0.284) **
∆lnGE−	0.148 (0.144)	0.233 (1.160)	0.555 (0.284) ***
∆lnURB+	−0.822 (5.546) ***	−5.778 (3.551) ***	−10.000 (10.815)
∆lnURB−	0.001 (0.001)	−0.343 (0.252) ***	−0.240 (0.022)
∆lnHC+	0.241 (0.079) ***	−5.009 (2.979) ***	−7.620 (8.964)
∆lnHC−	0.055(0.065)	−2.160 (2.016)	−0.385 (0.038)
C	0.214 (0.010) **	0.209 (0.100) **	0.856 (1.77)
Hausman test	0.55 [0.997]	3.27 [0.514]	0.93 [0.920]

*, **, *** represents 1%, 5%, and 10% level of significance, respectively. () represents the standard error of the estimate. [] represents the probability values of the Hausman test. (+) and (−) represent positive and negative partial sums of variables, respectively.