Globalization, renewable energy consumption and sustainable development

Figures & data

Table 2. Cross-sectional dependence

Test	Statistic	Probability
Breusch-Pagan LM	2229.89	0.0000
Pesaran Scaled LM	64.0006	0.0000
Pesaran CD	10.2419	0.0000

Source: Authors’ computation. Note: Significant at 1%.

Table 1. Descriptive statistics and correlation matrix

	ANS	RE	NRE	GLO	GDPC	IQ
PANEL A
Mean	3.999	65.726	39.233	45.383	1.848	.382
Std. Dev.	12.689	27.038	36.507	10.498	5.114	.171
Min	−56.445	44.4	6.4	12.4	−47.503	0
Mx	45.693	96.842	100	72.576	37.535	.806
PANEL B
ANS	1.000
RE	−0.223	1.000
NRE	0.325	−0.368	1.000
GLO	0.217	−0.410	0.310	1.000
GDPC	0.085	−0.009	0.010	0.130	1.000
IQ	0.177	0.031	0.219	0.047	0.003	1.000

Source: Authors’ computation.

Table 3. Im et al. (2003) and Levin et al. (2002) unit root tests

	IPS		LLC
Variables	Level	Δ	Level	Δ
ANS	−3.121(0.314)	−13.996(0.000)	−1.897 (0.028)	−13.287(0.000)
GLO	−0.538(0.295)	−20.991 (0.000)	−0.371(0.355)	−8.309 (0.000)
RE	1.689 (0.954)	−18.206(0.000)	−1.7668(0.0386)	−7.840 (0.000)
NRE	−0.743(0.228)	−14.788(0.1302)	-	-
1Q	−11.105(0.000)	−17.424 (0.000)	−9.3417 (0.000)	−17.340 (0.000)

Source: Authors’ computation.

Table 4. Pesaran (2003, 2007) unit root properties

	CADF		CIPS
Variables	LEVEL	Δ	LEVEL	Δ
ANS	−2.004 (0.962)	−3.159 (0.000)	−3.247	−5.758
GLO	−2.479 (0.164)	−3.637 (0.000)	−2.960	−4.707
RE	−1.879 (0.994)	−2.607(0.043)	−2.072	−4.640
NRE	−1.056(1.000)	−2.806 (0.002)	−1.203	−2.806
GDPC	−2.308(0.005)	−3.479(0.000)	−4.423	−6.141
IQ	−2.181(0.073)	−3.821(0.000)	−2.366	−4.033
Critical Values			−2.58 (10%) −2.66 (5%) −2.81 (1%)	−2.58 (10%) −2.66 (5%) −2.81 (1%)

Source: Authors’ computation.

Table 5. Pedroni (2004) panel residual-based cointegration test

Statistics
	Within-dimension(panel)		Between-dimension (group)
	Statistics	Weighted statistics	Statistics
V-Statistics	−2.1596(0.9846)	−3.4697 (0.9997)
Rho-Statistics	−1.5674 (0.0585)	−0.2032(0.5805)	1.8866 (0.9704)
PP-Statistics	− 13.1264(0.0000)	−8.5431 (0.0000)	−10.83325 (0.0000)
ADF-Statistics	−13.8946 (0.0000)	−9.970186(0.0000)	−10.3868 (0.0000)

Source: Authors’ computation.

Table 6. Westerlund (2007) Bootstrap error-correction-based cointegration

Statistic	Value	Z-Value	p-value	Robust-P-value
Gt	−3.677	−4.827	0.000	0.030
Gq	−12.671	2.924	0.998	0.030
Pt	−19.141	−4.995	0.000	0.010
Pq	−13.367	0.327	0.628	0.020

Authors’ computation.

Note: Gt and Ga denote the group mean tests. Pt and Pa are panel mean tests.

Table 7. Panel ARDL/PMG estimation results (1,1,1,1,1,1)

Variables	coefficients	Std. error	z	p-value
Long-run results
lnRE	0.1242**	0.0666	0.36	0.026
lnNRE	−0.184***	0.0383	−4.81	0.000
lnGLO	0.200***	0.0336	5.94	0.000
lnGDPC	0.0878*	0.0726	−1.21	0.096
IQ	21.04***	3.289	6.40	0.000
Short-run results
ECT (−1)	−0.399***	0.0722	−5.52	0.000
lnRE	−0.226*	0.136	−1.67	0.096
lnNRE	2.900	2.988	0.97	0.332
lnGLO	0.377*	0.202	1.87	0.061
lnGDPC	0.112**	0.0438	2.56	0.010
IQ	−11.94*	7.074	−1.69	0.092
Constant	−4.080**	1.9019	−2.15	0.032
Hausman (MG vs PMG		0.653
N		525

*** p<0.01, ** p<0.05, * p<0.1 show significance of 1%, 5% and 10% respectively.

Table 8. Results from quantile regression

VARIABLES	Q1	Q2	Q3	Q4	Q5	Q6	Q7	Q8	Q9
lnRE	0.02	0.05**	0.06***	0.07***	0.08***	0.09***	0.1***	0.11***	0.14***
lnNRE	0.02	−0.01	−0.03	−0.04	−0.05**	−0.06***	−0.08***	−0.09***	−0.12***
lnGLO	0.19**	0.15**	0.14**	0.12*	0.11*	0.090	0.07	0.05	0.02
lnGDPC	0.23	0.20*	0.19*	0.18*	0.17*	0.16*	0.148	0.13	0.11
IQ	9.80*	9.59**	9.49***	9.39***	9.32***	9.23***	9.13***	9.03**	8.85**
Constant	−24.25***	−15.63***	−11.59***	−7.53**	−4.64	−0.87	3.26	7.67*	14.99***

Standard errors in parentheses.

*** p<0.01, ** p<0.05, * p<0.1.

Table 9. Dumitrescu and Hurlin (2012) panel causality test

Null hypothesis	W-stat	Z-bar stat	Prob.
lnRE ≠ lnANS	2.0326	0.0748	0.0004
lnNRE ≠ lnANS	4.4203	5.5457	0.0000
lnGLO ≠ lnANS	8.9916	16.0198	0.0000
lnGDPC ≠ lnANS	2.2663	0.6102	0.5418
lnIQ ≠ lnANS	7.4646	2.3535	0.0363

Source: Authors’ construction. ≠ stands for no causality.

Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53. https://doi.org/10.1016/S0304-40760300092-7

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Levin, A., Lin, C. F., & Chu, C. S. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-40760100098-7

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Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951

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Pedroni, P. (2004). Panel cointegration: Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric Theory, 20(3), 597–625. https://doi.org/10.1017/S0266466604203073/

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Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin of Economics and Statistics, 69(6), 709–748. https://doi.org/10.1111/j.1468-0084.2007.00477.x

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Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450–1460. https://doi.org/10.1016/j.econmod.2012.02.014

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