Table 2

Variables, measurements and sources

VariablesMeasurementsSources
Dependent variable
Economic welfareIndexPCA
Independent variables
Non-renewable energyMillion toeOECD (2024) 
Green innovationEnvironmental technologies (% of total)OECD (2024) 
Institutional qualityEconomic Freedom IndexFraser Institute (2024) 
Control variables
InflationConsumer prices (annual %)World Bank (2024a, b)
Foreign direct investmentNet inflow (% of GDP)World Bank (2024a, b)
Source(s): Authors’ computation

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