Variables, measurements and sources
| Variables | Measurements | Sources |
|---|---|---|
| Dependent variable | ||
| Economic welfare | Index | PCA |
| Independent variables | ||
| Non-renewable energy | Million toe | OECD (2024) |
| Green innovation | Environmental technologies (% of total) | OECD (2024) |
| Institutional quality | Economic Freedom Index | Fraser Institute (2024) |
| Control variables | ||
| Inflation | Consumer prices (annual %) | World Bank (2024a, b) |
| Foreign direct investment | Net inflow (% of GDP) | World Bank (2024a, b) |
| Variables | Measurements | Sources |
|---|---|---|
| Economic welfare | Index | PCA |
| Non-renewable energy | Million toe | |
| Green innovation | Environmental technologies (% of total) | |
| Institutional quality | Economic Freedom Index | |
| Inflation | Consumer prices (annual %) | |
| Foreign direct investment | Net inflow (% of GDP) | |
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