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) |