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Table 8 ARDL estimates for environmental pollution (model 2)

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

Model: \({\text{lnCO}}_{{2_{t} }} = b_{0} + b_{1} {\text{lnOil}}_{t} + b_{2} {\text{lnEngy}}_{t} + b_{3} {\text{lnRgdpc}}_{t} + b_{4} {\text{lnRgdpc}}_{t}^{2} + b_{5} {\text{lnGCE}}_{t} + b_{6} {\text{lnTrd}}_{t} + \varepsilon_{t}\)
Variable Specification 1 Specification 2
Coefficient Std. error t-Statistic Coefficient Std. error t-Statistic
Short run estimates
 ECM (− 1) − 0.854*** 0.141 − 6.076 − 1.002*** 0.169 − 5.947
 \(\Delta\)lnOIL − 0.005 0.035 − 0.150 − 0.001 0.038 − 0.033
 \(\Delta\)lnEngy 0.610*** 0.162 3.777 0.536*** 0.170 3.162
 \(\Delta\)lnRgdpc 23.781 17.144 1.387 − 2.331 16.857 − 0.138
 \(\Delta\)lnRgdpc2 − 1.297 0.914 − 1.420 0.078 0.899 0.086
 \(\Delta\)lnGCE 0.178 0.129 1.381 0.154 0.136 1.137
 \(\Delta\)lnTrd − 0.105 0.095 − 1.110 − 0.091 0.100 − 0.906
 \(\Delta\)Brk04 − 0.382*** 0.060 − 6.352    
 \(\Delta\)Brk77&04     − 0.095*** 0.034 − 2.764
Long run estimates
 Constant 21.017 17.639 1.192 50.849 83.354 0.610
 lnOIL − 0.102 0.053 − 1.911 − 0.065 0.040 − 1.637
 lnEngy 0.744** 0.341 2.183 0.543** 0.262 2.069
 lnRgdpc − 44.825 37.555 − 1.194 − 10.910 17.815 − 0.612
 lnRgdpc2 2.326 1.985 1.172 0.540 0.945 0.572
 lnGCE 0.380*** 0.097 3.900 0.317*** 0.076 4.177
 lnTrd − 0.115 0.129 − 0.894 − 0.084 0.106 − 0.794
 Brk04 − 0.483* 0.253 − 1.906    
 Brk77&04     − 0.110* 0.058 − 1.908
  1. *, ** And *** indicate 10% level, 5% level and 1% level of significance, respectively