GLS

Model 1 (for Super-SBM)

Model 2 (for Aversion to CO₂-SBM)

Explanatory variables

Fixed time and space model

Fixed time and space model

C

−0.744 (0.0000) ***

−1.410 (0.0000)***

LOG (STR)

−0.122 (0.0583) *

−0.239 (0.0064)***

LOG (OPEN (−2))

0.045 (0.0158) **

0.033 (0.1816)

LOG (FDI)

0.052 (0.0019) ***

0.081 (0.0004)***

LOG (ERP)

−0.021 (0.1120)

−0.030 (0.1044)

LOG (PERPOWER)

−0.133 (0.0006)***

−0.268 (0.0000)***

LOG (RD)

−0.004 (0.3087)

−0.011 (0.0547)*

R-squared

0.95

0.95