Table 5 FMOLS and DOLS estimations.
Explanatory variable | FMOLS | DOLS (Robustness check) |
---|---|---|
GGI | 0.432 (0.003) | 0.102 (0.023) |
CO2 | −0.231 (0.394) | −0.001 (0.511) |
INF | −0.344(0.000) | −0.229 (0.003) |
GLOB | 0.328 (0.023) | 0.492 (0.007) |
Explanatory variable | FMOLS | DOLS (Robustness check) |
---|---|---|
GGI | 0.432 (0.003) | 0.102 (0.023) |
CO2 | −0.231 (0.394) | −0.001 (0.511) |
INF | −0.344(0.000) | −0.229 (0.003) |
GLOB | 0.328 (0.023) | 0.492 (0.007) |