Table 6 Results of Lewbel 2SLS (Endogeneity): input-side green finance indicators.
From: Green finance and environmental decentralization drive OECD low carbon transitions
Variables | Dependent variable: ecological footprint (ECFP) | |||||
|---|---|---|---|---|---|---|
With internal IVE | With internal and external IVE | With internal IVE | With internal and external IVE | With internal IVE | With internal and external IVE | |
(1) | (2) | (3) | (4) | (5) | (6) | |
RD_ENV | − 0.0073** (0.0029) | − 0.0037 (0.0038) | ||||
ODA_CCMT | − 0.0198*** (0.0041) | − 0.0240*** (0.0047) | ||||
ODA_CCAT | − 0.2649*** (0.0747) | − 0.2611*** (0.0738) | ||||
ENDZ | − 0.7885*** (0.2175) | − 0.7926*** (0.2179) | − 0.9622*** (0.2322) | − 0.9971*** (0.2379) | − 0.6695* (0.3670) | − 0.6713* (0.3632) |
ABEC | 2.5927*** (0.1417) | 2.5994*** (0.1423) | 2.5404*** (0.1347) | 2.5265*** (0.1337) | 1.6488*** (0.3493) | 1.6625*** (0.3449) |
ENTN | − 1.1162** (0.4512) | − 1.1166** (0.4515) | − 1.1832** (0.4621) | − 1.1971** (0.4668) | − 1.4985* (0.7735) | − 1.4930* (0.7662) |
FIDV | − 4.2718*** (0.4700) | − 4.2475*** (0.4677) | − 4.4768*** (0.4844) | − 4.5303*** (0.4891) | − 3.0286*** (0.8121) | − 3.0456*** (0.8027) |
URBN | 2.1461*** (0.5634) | 2.1130*** (0.5600) | 1.9165*** (0.5297) | 1.8822*** (0.5241) | 2.5005*** (0.7430) | 2.4945*** (0.7372) |
Constant | − 25.9470*** (2.7270) | − 25.8957*** (2.7223) | − 24.5688*** (2.5349) | − 24.3001*** (2.4955) | − 20.9178*** (2.3277) | − 20.9880*** (2.3180) |
N | 1232 | 1232 | 1232 | 1232 | 1232 | 1232 |
adj_R2 | 0.2685 | 0.2680 | 0.2800 | 0.2787 | 0.2412 | 0.2536 |
Hansen | 0.4811 | 0.3020 | 0.006 | 0.0043 | 0.5950 | 0.3120 |
Kleibergen-Paap rk LM P-value | 0.0193 | 0.0357 | 0.0398 | 0.0420 | 0.0071 | 0.0090 |
Kleibergen-Paap rk Wald F | 108.7 | 93.35 | 86.42 | 72.40 | 70.04 | 83.59 |
