Skip to main content

Advertisement

Table 7 ARDL estimates for energy consumption (model 1)

From: Oil price, energy consumption and carbon dioxide (CO2) emissions: insight into sustainability challenges in Venezuela

Model: \({\text{lnEngy}}_{t} = \alpha_{0} + \alpha_{1} {\text{lnOil}}_{t} + \alpha_{2} {\text{lnCO}}_{{2_{t} }} + \alpha_{3} {\text{lnRgdpc}}_{t} + \alpha_{4} {\text{lnGCE}}_{t} + \alpha_{5} {\text{lnTrd}}_{t} + \varepsilon_{t}\)
Variable Specification 1 Specification 2
Coefficient Std. error t-Statistic Coefficient Std. error t-Statistic
Short run estimates  
 ECM (− 1) − 0.561*** 0.086 − 6.560 − 0.549*** 0.086 − 6.419
 \(\Delta\)lnEngy (− 1) − 0.425*** 0.097 − 4.399 − 0.423*** 0.100 − 4.238
 \(\Delta\)lnOIL 0.015 0.024 0.638 0.025 0.025 0.993
 \(\Delta\)lnCO2 0.236*** 0.067 3.524 0.225*** 0.068 3.296
 \(\Delta\)lnRgdpc 0.139 0.135 1.036 0.144 0.142 1.010
 \(\Delta\)lnGCE − 0.109 0.077 − 1.428 − 0.110 0.078 − 1.411
 \(\Delta\)lnTrd 0.021 0.062 0.344 0.006 0.064 0.092
 \(\Delta\)lnTrd (− 1) − 0.138** 0.056 − 2.470 − 0.146** 0.058 − 2.505
 \(\Delta\)lnBrk87 0.042 0.028 1.493    
 \(\Delta\)lnBrk78&03     − 0.004 0.023 − 0.171
Long run estimates
 Constant 4.467 2.7235 1.640 4.562 2.717 1.679
 lnOIL 0.099*** 0.0293 3.381 0.098*** 0.029 3.332
 lnCO2 0.465** 0.2190 2.124 0.466** 0.219 2.129
 lnRgdpc 0.235 0.2757 0.853 0.224 0.274 0.816
 lnGCE − 0.162 0.1080 − 1.500 − 0.162 0.107 − 1.518
 lnTrd 0.239 0.1748 1.368 0.243 0.173 1.407
 lnBrk87 0.019 0.0916 0.204    
 lnBrk78&03     − 0.030 0.065 − 0.461
  1. ** And *** indicate 5% level and 1% level of significance, respectively