Skip to main content

Table 4 DOLS regression results

From: Renewable energy consumption in Africa: the role of economic well-being and economic freedom

Variables

(1)

(2)

(3)

POLS

FMOLS

DOLS

Economic well-being

 Standard of living measure

  HDI†

0.0435***

0.0441***

0.0554***

(0.010)

(0.002)

(0.002)

  c.HDI#c.HDI (HDI_squared)†

−0.0006***

−0.0006***

−0.0007***

(0.000)

(0.000)

(0.000)

Economic freedom

 Rule of law measures

  Property rights

−0.0004

−0.0003*

−0.0006*

(0.001)

(0.000)

(0.000)

 Regulatory efficiency measures

  Business freedom

0.0002

0.0002

0.0009***

(0.001)

(0.000)

(0.000)

 Open market measures

  Trade freedom

0.0007

0.0007***

0.0010***

(0.001)

(0.000)

(0.000)

 Limited government measures

  Tax burden

−0.0043***

−0.0043***

−0.0062***

(0.001)

(0.000)

(0.000)

Structural changes

  Economic structure

−0.0873***

−0.0879***

−0.1133***

(0.022)

(0.011)

(0.015)

Constant

−1.1887***

−1.1779***

−1.4550***

(0.264)

(0.062)

(0.093)

Year dummies

Yes

Yes

Yes

Country dummies

Yes

Yes

Yes

Observations

704

703

701

R-squared

0.989

0.942

0.991

Turning point (nlcom)

0.73***

0.74***

0.79***

Std. error

(0.46)

(0.01)

(0.11)

  1. Dep variable: share of renewable energy in total energy consumption (ln)
  2. Robust standard errors in parentheses for OLS model only
  3. ***p < 0.01
  4. **p < 0.05
  5. *p < 0.1