Table 1. Variable definitions Variable... | Emerald Publishing

Table 1.

Variable definitions

Variable	Definition	Source
GHG	Total greenhouse gas emission/GDP	OECD statistics
VOL	Volatility, the log of stock market volatility on individual countries i in year $t$	OECD statistics
L1_VOL	Lagged volatility, the log of stock market volatility on individual countries i in year $t - 1$	OECD statistics
AVOL	Average market volatility of all OECD countries in year t	OECD statistics
IF	Annual inflation rate	OECD statistics
VST	Natural log of the value of stocks traded in the market	OECD statistics
GDP	GDP per head of population. As % of the USA (USA = 100)	OECD statistics
GRW	GDP growth rate. GDP is measured in national currency, current prices	OECD statistics
MSCI	Yearly return of the MSCI world portfolio	MSCI
RET	Yearly returns of individual countries’ stock market index	OECD statistics
ACORR	Cross-sectional average correlation across stock indices	OECD statistics
D_Crisis	A dummy variable that distinguishes the global financial crisis
D_Paris	A dummy variable that distinguishes after the signing of the Paris Climate Agreement (December 2015)
Forest	Share (%) of forests in the total territorial area	World Bank
Fisheries	The aquaculture production in the unit of tons (=1,000 kg)	OECD statistics
Feed-in tariffs (FITs)	Prevalent support policies for scaling up renewable electricity capacity	OECD statistics

Variable	Definition	Source
GHG	Total greenhouse gas emission/GDP	OECD statistics
VOL	Volatility, the log of stock market volatility on individual countries i in year $t$	OECD statistics
L1_VOL	Lagged volatility, the log of stock market volatility on individual countries i in year $t - 1$	OECD statistics
AVOL	Average market volatility of all OECD countries in year t	OECD statistics
IF	Annual inflation rate	OECD statistics
VST	Natural log of the value of stocks traded in the market	OECD statistics
GDP	GDP per head of population. As % of the USA (USA = 100)	OECD statistics
GRW	GDP growth rate. GDP is measured in national currency, current prices	OECD statistics
MSCI	Yearly return of the MSCI world portfolio	MSCI
RET	Yearly returns of individual countries’ stock market index	OECD statistics
ACORR	Cross-sectional average correlation across stock indices	OECD statistics
D_Crisis	A dummy variable that distinguishes the global financial crisis
D_Paris	A dummy variable that distinguishes after the signing of the Paris Climate Agreement (December 2015)
Forest	Share (%) of forests in the total territorial area	World Bank
Fisheries	The aquaculture production in the unit of tons (=1,000 kg)	OECD statistics
Feed-in tariffs (FITs)	Prevalent support policies for scaling up renewable electricity capacity	OECD statistics

Note:s

The sample consists of panel data of 35 OECD countries from 1992 to 2018. All data is obtained from OECD Statistics and World Bank