Table 9 RE-NR-FD relationship in SSA: GMM estimates.

From: Green growth dynamics: unraveling the complex role of financial development and natural resources in shaping renewable energy in Sub-Saharan Africa

VARIABLES

GMM estimate

NR

1.234**

 

(0.098)

FD

−0.567**

 

(0.114)

NR*FD

0.056**

 

(0.015)

Trade/GDP

−0.034*

 

(0.019)

GDP PC

−0.0009**

 

(0.0002)

Urbanization/population

−0.345**

 

(0.082)

Constant

104.5***

 

(6.87)

Observations

318

Hansen J-statistic (p)

0.21

AR(1) p-value

0.015

AR(2) p-value

0.13

Number of instruments

25

Number of groups

18

  1. Standard errors in parentheses ***p < 0.01, **p < 0.05, *p < 0.1.
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