Variables

Model (1)

Model (2)

Model (3)

CO₂

Coefficient/p-value

EC

Coefficient/p-value

GDP

Coefficient/p-value

CO₂

-

−10.7383 (0.000)***

2.7883 (0.000)***

INDVA

−0.0060 (0.011)**

-

-

GDP

0.4548 (0.000)***

3.4059 (0.000)***

-

EC

−0.1397 (0.000)***

-

0.2489 (0.000)***

URB

−0.00082 (0.988)

-

-

OILPRICE

-

−0.0051 (0.014)**

-

CPI

-

−0.00006 (0.968)

-

GFCG

-

-

0.1646 (0.010)**

LABOR

-

-

−0.1515 (0.032)**

const

−0.4 (0.000)***

−0.1394 (0.280)

−0.3201(0.000)***

Hansen J-test

21.81 (0.351)

20.96 (0.339)

23.47 (0.266)

DWH test (p-value)

29.425 (0.000)***

16.533 (0.000)***

AR2 test

−1.07 (0.284)

−0.99 (0.323)

−1.68 (0.092)*