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Table 4 P-VAR estimation results

From: Environment and economic growth: is the rule of law the go-between? The case of high-income countries

 

Parameter

S. E.

Student’s t

Eq. 1: dep. Var: GDP(t)

GDP(t-l)

0.808***

0.071

11.390

Poll(t-l)

−0.024

0.031

−0.783

RoL(t-l)

0.054*

0.033

1.651

Eq. 2: dep. Var: RoL(t)

GDP(t-l)

0.053***

0.018

2.950

Poll(t-l)

−0.020

0.018

−1.131

RoL(t-l)

0.743***

0.032

22.984

Eq. 3: dep. Var: Poll(t)

GDP(t-l)

0.002

0.112

0.017

Poll(t-l)

0.810***

0.107

7.568

RoL(t-l)

−0.103**

0.049

−2.106

  1. The three variable VAR model is estimated by GMM; country-time and fixed effects are removed prior to estimation. Reported numbers show the coefficients of regressing the row variables on lags of the column variables. Heteroskedasticity adjusted t-statistics are reported
  2. ***Indicates significance at 1 % level; **indicates significance at 5 % level; *indicates significance at 10 % level
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Energy, Sustainability and Society

ISSN: 2192-0567

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