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Table 7 FMOLS and DOLS long-run estimates (across income groups)

From: The dynamic linkage between renewable energy, tourism, CO2 emissions, economic growth, foreign direct investment, and trade

Variable

FMOLS

DOLS

Coefficient

Prob.

Coefficient

Prob.

Lower-Middle-Income economies

 y

0.784

0.00***

0.706

0.00***

 re

− 0.177

0.01***

− 0.159

0.01***

 trs

− 0.416

0.00***

− 0.393

0.00***

 tr

0.379

0.00***

0.351

0.00***

 fdi

− 0.326

0.00***

− 0.305

0.01***

Upper-Middle-Income economies

 y

0.995

0.00***

0.953

0.00***

 re

− 0.136

0.01***

− 0.121

0.01***

 trs

− 0.378

0.00***

− 0.352

0.00***

 tr

0.346

0.00***

0.329

0.00***

 fdi

− 0.294

0.01***

− 0.279

0.02**

High-Income economies

 y

1.437

0.00***

1.324

0.00***

 re

− 0.107

0.01***

− 0.085

0.02**

 trs

− 0.326

0.01***

− 0.309

0.01***

 tr

0.303

0.01***

0.286

0.02**

 fdi

− 0.238

0.02**

− 0.213

0.02**

  1. “***” and “**” indicate statistical significance at the levels 1% and 5%, respectively