Table A3. Estimation results for PM 2.5... | Emerald Publishing

Table A3.

Estimation results for PM_2.5 pollution

Independent variables	Difference GMM	Fixed effects (FE)	System GMM without control variables	System GMM (individual indicators)
$L . \ln P M$	0.3315*** (0.0559)	–	0.5574*** (0.1122)	–
$\ln G D P C \leq γ_{1}$	0.2019*** (0.0688)	0.1808* (0.0910)	0.1406 (0.1415)	0.1722 (0.2780)
$\ln G D P C > γ_{1}$	−0.2085*** (0.0692)	−0.1976** (0.0887)	−0.4416*** (0.1300)	−0.4713*** (0.2579)
$\ln C R \leq γ_{1}$	0.0335 (0.0513)	0.0235 (0.0533)	0.0963 (0.1458)	0.0220 (0.0743)
$\ln C R > γ_{1}$	0.0967* (0.0503)	0.0582 (0.0507)	0.0856 (0.1394)	0.0650 (0.0595)
$\ln T I \leq γ_{1}$	0.3698*** (0.1364)	−0.1097 (0.1176)	−0.1443 (0.3982)	−0.4886 (0.3981)
$γ_{1} < \ln T I \leq γ_{2}$	−0.3515*** (0.1332)	−0.1054 (0.1131)	−0.1260 (0.3723)	−0.4183 (0.3579)
$\ln T I > γ_{2}$	−2.3942*** (0.8934)	−3.2432*** (1.2380)	−2.1237* (1.1667)	−2.4150* (1.3483)
$\ln U R B \leq γ_{1}$	−1.2069*** (0.3834)	−0.8792** (0.3773)	−0.1552 (0.4536)	−0.1679 (0.5487)
$γ_{1} < \ln U R B \leq γ_{2}$	−1.1888*** (0.3850)	−0.08781** (0.3744)	−0.1027 (0.4540)	−0.1175 (0.4839)
$\ln U R B > γ_{2}$	−1.1842*** (0.3810)	−0.8748** (0.3727)	−0.1429 (0.4276)	−0.1755 (0.4509)
$\ln F D I$	−0.0136** (0.0060)	0.0005 (0.0106)	–	–
$\ln T O$	0.1413*** (0.0353)	−0.3262*** (0.0849)	–	–

Independent variables	Difference GMM	Fixed effects (FE)	System GMM without control variables	System GMM (individual indicators)
$L . \ln P M$	0.3315*** (0.0559)	–	0.5574*** (0.1122)	–
$\ln G D P C \leq γ_{1}$	0.2019*** (0.0688)	0.1808* (0.0910)	0.1406 (0.1415)	0.1722 (0.2780)
$\ln G D P C > γ_{1}$	−0.2085*** (0.0692)	−0.1976** (0.0887)	−0.4416*** (0.1300)	−0.4713*** (0.2579)
$\ln C R \leq γ_{1}$	0.0335 (0.0513)	0.0235 (0.0533)	0.0963 (0.1458)	0.0220 (0.0743)
$\ln C R > γ_{1}$	0.0967* (0.0503)	0.0582 (0.0507)	0.0856 (0.1394)	0.0650 (0.0595)
$\ln T I \leq γ_{1}$	0.3698*** (0.1364)	−0.1097 (0.1176)	−0.1443 (0.3982)	−0.4886 (0.3981)
$γ_{1} < \ln T I \leq γ_{2}$	−0.3515*** (0.1332)	−0.1054 (0.1131)	−0.1260 (0.3723)	−0.4183 (0.3579)
$\ln T I > γ_{2}$	−2.3942*** (0.8934)	−3.2432*** (1.2380)	−2.1237* (1.1667)	−2.4150* (1.3483)
$\ln U R B \leq γ_{1}$	−1.2069*** (0.3834)	−0.8792** (0.3773)	−0.1552 (0.4536)	−0.1679 (0.5487)
$γ_{1} < \ln U R B \leq γ_{2}$	−1.1888*** (0.3850)	−0.08781** (0.3744)	−0.1027 (0.4540)	−0.1175 (0.4839)
$\ln U R B > γ_{2}$	−1.1842*** (0.3810)	−0.8748** (0.3727)	−0.1429 (0.4276)	−0.1755 (0.4509)
$\ln F D I$	−0.0136** (0.0060)	0.0005 (0.0106)	–	–
$\ln T O$	0.1413*** (0.0353)	−0.3262*** (0.0849)	–	–

Note(s):

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

Source(s): Authors’ own work