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) |