Table A1. Estimation results for CO 2... | Emerald Publishing

Table A1.

Estimation results for CO₂ emission

Independent variables	Difference GMM	Fixed effects (FE)	System GMM without control variables	System GMM (individual indicators)
$L . \ln C O_{2}$	0.6727*** (0.0348)	–	0.6649*** (0.0920)	–
$\ln G D P C \leq γ_{1}$	0.5246*** (0.0510)	0.3411** (0.1625)	0.3764*** (0.1297)	0.6284*** (0.1109)
$γ_{1} < \ln G D P C \leq γ_{2}$	0.4163*** (0.0510)	0.1103 (0.1594)	0.0578 (0.1320)	0.3834*** (0.2013)
$\ln G D P C > γ_{2}$	0.2186*** (0.0517)	0.1048 (0.1578)	0.0687 (0.1344)	0.0159 (0.0852)
$\ln C R \leq γ_{1}$	0.0767* (0.0458)	0.2328*** (0.0731)	0.0518 (0.1124)	0.0965 (0.0917)
$\ln C R > γ_{1}$	−0.3625*** (0.1029)	−0.2295*** (0.0656)	−0.2167*** (0.1069)	−0.1731** (0.1023)
$\ln T I \leq γ_{1}$	0.2287* (0.1281)	0.1819 (0.2026)	0.2379 (0.3757)	0.4292 (0.5289)
$\ln T I > γ_{1}$	−1.2456*** (0.4280)	−1.2081*** (0.5993)	−1.2870*** (0.5609)	−1.3820*** (0.4990)
$\ln U R B \leq γ_{1}$	1.1650*** (0.3528)	0.0936 (1.6614)	0.9288** (0.5255)	0.6727* (0.4543)
$γ_{1} < \ln U R B \leq γ_{2}$	1.5263*** (0.3518)	0.1163 (1.6489)	1.8844*** (0.4982)	0.5149 (1.2354)
$\ln U R B > γ_{2}$	−0.0903 (1.3504)	−0.1180 (1.6488)	−0.1222 (1.4952)	−0.4142 (1.2066)
$\ln F D I$	0.0019 (0.0021)	−0.0022 (0.0078)	–	–
$\ln T O$	0.1787*** (0.0422)	−0.1750 (0.1147)	–	–

Independent variables	Difference GMM	Fixed effects (FE)	System GMM without control variables	System GMM (individual indicators)
$L . \ln C O_{2}$	0.6727*** (0.0348)	–	0.6649*** (0.0920)	–
$\ln G D P C \leq γ_{1}$	0.5246*** (0.0510)	0.3411** (0.1625)	0.3764*** (0.1297)	0.6284*** (0.1109)
$γ_{1} < \ln G D P C \leq γ_{2}$	0.4163*** (0.0510)	0.1103 (0.1594)	0.0578 (0.1320)	0.3834*** (0.2013)
$\ln G D P C > γ_{2}$	0.2186*** (0.0517)	0.1048 (0.1578)	0.0687 (0.1344)	0.0159 (0.0852)
$\ln C R \leq γ_{1}$	0.0767* (0.0458)	0.2328*** (0.0731)	0.0518 (0.1124)	0.0965 (0.0917)
$\ln C R > γ_{1}$	−0.3625*** (0.1029)	−0.2295*** (0.0656)	−0.2167*** (0.1069)	−0.1731** (0.1023)
$\ln T I \leq γ_{1}$	0.2287* (0.1281)	0.1819 (0.2026)	0.2379 (0.3757)	0.4292 (0.5289)
$\ln T I > γ_{1}$	−1.2456*** (0.4280)	−1.2081*** (0.5993)	−1.2870*** (0.5609)	−1.3820*** (0.4990)
$\ln U R B \leq γ_{1}$	1.1650*** (0.3528)	0.0936 (1.6614)	0.9288** (0.5255)	0.6727* (0.4543)
$γ_{1} < \ln U R B \leq γ_{2}$	1.5263*** (0.3518)	0.1163 (1.6489)	1.8844*** (0.4982)	0.5149 (1.2354)
$\ln U R B > γ_{2}$	−0.0903 (1.3504)	−0.1180 (1.6488)	−0.1222 (1.4952)	−0.4142 (1.2066)
$\ln F D I$	0.0019 (0.0021)	−0.0022 (0.0078)	–	–
$\ln T O$	0.1787*** (0.0422)	−0.1750 (0.1147)	–	–

Note(s):

“*”, “**” and “***” indicates significant at 10, 5 and 1% level

Source(s): Authors’ own work