Revisiting the energy-growth-environment nexus in the OECD countries: An application of the CS-ARDL approach

Table 12 Robustness check of long-run effect with FMOLS and DOLS estimators

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)
	lnCO₂	lnY	lnRE	lnNRE	lnTRD	lnFD	lnURB
FMOLS estimation
lnCO₂		0.177	− 1.07***	0.202***	0.839***	− 0.628	− 0.07***
		(0.112)	(0.320)	(0.048)	(0.253)	(0.421)	(0.022)
lnY	0.552***		0.932*	0.114	− 1.73***	0.165	0.094***
	(0.131)		(0.503)	(0.072)	(0.387)	(0.658)	(0.017)
lnRE	− 0.25***	0.104**		0.003	0.702***	0.308*	0.008
	(0.033)	(0.045)		(0.020)	(0.095)	(0.171)	(0.010)
lnNRE	0.788***	0.721***	0.329		1.518***	− 1.142	− 0.008
	(0.187)	(0.239)	(0.750)		(0.529)	(0.904)	(0.050)
lnTRD	0.075**	0.005	0.204	0.060***		0.422**	0.024**
	(0.037)	(0.049)	(0.134)	(0.020)		(0.168)	(0.010)
lnFD	− 0.09***	− 0.026	0.425***	− 0.08***	0.036		− 0.05***
	(0.032)	(0.043)	(0.124)	(0.018)	(0.086)		(0.008)
lnURB	− 0.03***	0.045***	0.020	− 0.008*	0.099***	− 0.08***
	(0.007)	(0.005)	(0.030)	(0.004)	(0.021)	(0.033)
DOLS estimation
lnCO₂		0.417	− 1.913**	0.334*	0.322	− 0.406	− 0.059
		(0.526)	(0.852)	(0.194)	(1.520)	(0.577)	(0.109)
lnY	0.702*		1.976*	0.122	0.054	1.334*	0.135*
	(0.404)		(1.147)	(0.275)	(1.786)	(0.684)	(0.077)
lnRE	− 0.220*	0.117		0.018	0.577	0.348	− 0.002
	(0.120)	(0.217)		(0.086)	(0.528)	(0.215)	(0.048)
lnNRE	0.905	0.043	0.248		1.235	− 1.745	− 0.018
	(0.669)	(1.142)	(2.100)		(2.899)	(1.133)	(0.247)
lnTRD	− 0.114	0.035	− 0.038	− 0.017		− 0.038	0.026
	(0.158)	(0.257)	(0.433)	(0.102)		(0.266)	(0.044)
lnFD	− 0.082	0.021	0.117	− 0.005	− 0.011		− 0.026
	(0.155)	(0.206)	(0.406)	(0.089)	(0.627)		(0.037)
lnURB	− 0.018	0.041*	− 0.017	− 0.003	0.020	− 0.08***
	(0.021)	(0.023)	(0.062)	(0.013)	(0.085)	(0.031)

***, **, and * significant at 1 percent, 5 percent, and 10 percent, respectively. Standard errors are in parentheses

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