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Table 9 ARDL estimates for economic growth (model 3)

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

Model: \({\text{lnRgdpc}}_{t} = \delta_{0} + \delta_{1} {\text{lnOil}}_{t} + \delta_{2} {\text{lnEngy}}_{t} + \delta_{3} {\text{lnCO}}_{{2_{t} }} + \delta_{4} {\text{lnGCE}}_{t} + \delta_{5} {\text{lnTrd}}_{t} + \varepsilon_{t}\)
Variable Specification 1 Specification 2
Coefficient Std. error t-Statistic Coefficient Std. error t-Statistic
Short run estimates
 ECM (− 1) − 0.411*** 0.066 − 6.197 − 0.462*** 0.075 − 6.182
 \(\Delta\)lnOIL − 0.001 0.019 − 0.054 0.002 0.019 0.126
 \(\Delta\)lnEngy 0.067 0.087 0.767 0.081 0.086 0.945
 \(\Delta\)lnCO2 − 0.210*** 0.065 − 3.238 − 0.232*** 0.062 − 3.757
 \(\Delta\)lnGCE 0.194*** 0.059 3.274 0.194*** 0.059 3.276
 \(\Delta\)lnTrd 0.030 0.050 0.603 0.035 0.050 0.693
 lnBrk04 0.049* 0.027 1.829    
 lnBrk80&05     − 0.024 0.018 − 1.369
Long run estimates
 Constant 8.207*** 2.084 3.939 8.329*** 1.934 4.306
 lnOIL − 0.013 0.039 − 0.331 − 0.008 0.037 − 0.225
 lnEngy 0.013 0.233 0.056 − 0.003 0.217 − 0.014
 lnCO2 − 0.988*** 0.165 − 5.990 − 0.927*** 0.141 − 6.567
 lnGCE 0.375*** 0.091 4.108 0.351*** 0.083 4.238
 lnTrd 0.094 0.106 0.888 0.107 0.099 1.086
 lnBrk04 0.111 0.113 0.986    
 lnBrk80&05     − 0.032 0.059 − 0.544
  1. *, ** And *** indicate 10% level, 5% level and 1% level of significance, respectively