HDFE/FE regression results (Dependent variable: CO2)
| Model statistics | |||
|---|---|---|---|
| Statistic | M1 | M2 | M3 |
| Observations | 850 | 850 | 850 |
| F statistic | F(6,33) = 25.16 | F(6,24) = 2.55 | F(39,33) = 535.41 |
| Prob > F | 0.0000 | 0.0473 | 0.0000 |
| R-squared | 0.9049 | 0.9049 | 0.6207 |
| Adj R-squared | 0.8973 | 0.8972 | |
| Within R-squared | 0.1776 | 0.1776 | |
| Root MSE | 0.1161 | 0.1162 | |
| Clusters (id) | 25.0 | ||
| Clusters (year) | 34.0 | 34.0 | |
| Groups | 25.0 | ||
| Model statistics | |||
|---|---|---|---|
| Statistic | M1 | M2 | M3 |
| Observations | 850 | 850 | 850 |
| F statistic | F(6,33) = 25.16 | F(6,24) = 2.55 | F(39,33) = 535.41 |
| Prob > F | 0.0000 | 0.0473 | 0.0000 |
| 0.9049 | 0.9049 | 0.6207 | |
| Adj | 0.8973 | 0.8972 | |
| Within | 0.1776 | 0.1776 | |
| Root MSE | 0.1161 | 0.1162 | |
| Clusters (id) | 25.0 | ||
| Clusters (year) | 34.0 | 34.0 | |
| Groups | 25.0 | ||
| Coefficient table (coef (se) with significance) | |||
|---|---|---|---|
| Variable | M1: Year-cluster | M2: Two-way cluster | M3: FE + Driscoll–Kraay (lag 3) |
| BUw | −0.091 (0.066) | −0.091 (0.095) | −0.091 (0.070) |
| FORw | 0.011 (0.007) | 0.011 (0.014) | 0.011 (0.008) |
| BUw × FORw | −0.111 (0.044)** | −0.111 (0.083) | −0.111 (0.049)** |
| GDPpc | 0.348 (0.039)*** | 0.348 (0.117)*** | 0.348 (0.059)*** |
| URB | 0.011 (0.004)*** | 0.011 (0.009) | 0.011 (0.005)** |
| ARB | 0.005 (0.002)** | 0.005 (0.005) | 0.005 (0.003) |
| _cons | −2.400 (0.523)*** | −2.400 (1.549) | −2.072 (0.662)*** |
| Coefficient table (coef (se) with significance) | |||
|---|---|---|---|
| Variable | M1: Year-cluster | M2: Two-way cluster | M3: FE + Driscoll–Kraay (lag 3) |
| BUw | −0.091 (0.066) | −0.091 (0.095) | −0.091 (0.070) |
| FORw | 0.011 (0.007) | 0.011 (0.014) | 0.011 (0.008) |
| BUw × FORw | −0.111 (0.044)** | −0.111 (0.083) | −0.111 (0.049)** |
| GDPpc | 0.348 (0.039)*** | 0.348 (0.117)*** | 0.348 (0.059)*** |
| URB | 0.011 (0.004)*** | 0.011 (0.009) | 0.011 (0.005)** |
| ARB | 0.005 (0.002)** | 0.005 (0.005) | 0.005 (0.003) |
| _cons | −2.400 (0.523)*** | −2.400 (1.549) | −2.072 (0.662)*** |
Note(s): Entries show coefficient with standard error in parentheses. Significance: *p < 0.10, **p < 0.05, ***p < 0.01