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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