Determinants of energy consumption: The case of African oil exporting countries

Figures & data

Table 1. Pesaran’s (2004) CD test

Variable	CD-test	P-value	Corr	Abs(corr)
EC ES OPEN PERINC RESIDUALS	14.75*** 3.22*** 2.54*** 3.95*** 7.27***	0.000 0.001 0.011 0.000 0.000	0.618 0.135 0.107 0.165 0.304	0.861 0.408 0.197 0.560 0.519

Notes: Referring to the null hypothesis of cross-sectional independence. *, **, ***indicates significance at 10%, 5%, and 1% respectively. The residuals were generated after an estimation of the fixed effect of the dependent variables on the different determinants.

Table 2. CIPS Panel Unit Root Test

Variables	CIPS statistic
	Level form	First difference
Model with an intercept only
EC	−1.560**	−4.940***
ES	1.128	−3.656***
PERINC	−0.024	−4.015***
OPEN	−0.580	−4.520***
Model with an intercept and trend
EC	−1.861**	−3.878***
ES	−0.515	−2.456***
PERINC	−2.524***	−2.514***
OPEN	−0.847	−3.699***

*, **, and *** indicate CIPS statistics greater than the critical value at 1%, 5%, and 10% level of significance respectively.

Table 3.: MG and PMG estimates

	1	2	3	4
VARIABLES	MG-1	PMG-1	MG-2	PMG-2
ES	0.0102	−0.000595	0.0256	−0.00422
	(0.00946)	(0.00349)	(0.0195)	(0.00280)
OPEN	−0.00188	0.00373***	−0.00717	0.00468***
	(0.00509)	(0.00105)	(0.00727)	(0.000904)
PERINC	0.657	0.866***	0.943*	0.935***
	(0.528)	(0.0764)	(0.570)	(0.0593)
Speed of adj.	−0.294***	−0.136**	−0.401***	−0.161**
	(0.0558)	(0.0554)	(0.0838)	(0.0787)
Constant	0.993	−0.0644***	1.360	−0.140**
	(0.889)	(0.0244)	(0.937)	(0.0667)
Residual(P-value)	0.000	0.000	0.000	0.000
Observations	222	222	216	216

Standard errors in parentheses. *, **, *** indicates significance at 10 percent, 5 percent, and 1 percent.

Table 4.: CS-ARDL

	5	6	7
VARIABLES	CS-ARDL-1	CS-ARDL-2	CS-ARDL-3
ES	−0.00504*	0.00133	−0.0502
	(0.00291)	(0.00379)	(0.0402)
OPEN	0.00183*	−0.41e-05	−0.0136***
	(0.00103)	(0.000983)	(0.00401)
PERINC	0.294	0.307	−0.415
	(0.188)	(0.214)	(1.085)
Speed of adj	−1.042***	−1.195***	−1.094*
	(0.101)	(0.135)	(0.556)
Constant	0.0018	−0.0052	0.00462
	(0.004)	(0.00644)	(0.0135)
Observations	204	204	204

Standard errors in parentheses. *, **, *** indicates significance at 10%, 5%, and 1 %.

Table 5.: Cross-sectional DL

	8	9	10
VARIABLES	CS-DL1	CS-DL2	CS-DL3
ES	−0.00679*	0.00092	−0.00394
	(0.00312)	(0.0035)	(0.00517)
OPEN	0.00164	−0.000061	−0.006778
	(0.00104)	(0.00134)	(0.006944)
PERINC	0.38491*	0.61522*	0.911231*
	(0.19833)	(0.24915)	(0.387578)
Constant	0.00119	−0.002997	−0.00451
	(0.00457)	(0.00510)	(0.00574)
Observations	204	204	204

Standard errors in parentheses. *, **, *** indicates significance at 10%, 5%, and 1%.

Pesaran, H. M. (2004). General diagnostic tests for cross-sectional dependence in panels. University of Cambridge, Working Papers in Economics, 435.

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