The Dynamic Interrelationship of Environmental Factors and Foreign Direct Investment: Dynamic Panel Data Analysis and New Evidence from the Globe

Table 5

System GMM results of all regressions (RE, CO2, FDI, and economic growth).

Variables	Renewable energy	Carbon emission	Foreign direct investment	Economic growth
Carbon emission	0.000		−0.088	−0.029
	(0.000)		(0.008)	(8.190)
Renewable energy		−0.0134	−0.104; (0.010)	0.026
		(0.00215)		(0.000)
Foreign direct invest	0.006	−0.00722		0.063
	(1.710)	(0.00103)		(1.280)
L. GDP per capita	−0.010	0.0102	0.084
	(2.751)	(0.000855)	(0.003)
Urban population	0.009	−0.0197	0.011	−0.003
	(0.000)	(0.00953)	(0.010)	(0.000)
Trade openness	0.003	−0.0264	−0.036	0.000
	(0.000)	(0.00553)	(0.040)	(3.340)
Govt. expenditure	0.021		−0.191	−0.364
	(0.000)		(0.016)	(7.25−)
REit-1	0.988			1.123
	(0.0001)			(0.002)
CDOit-1		0.960		1,342
		(0.00531)		156
FDIit-1			0.536
			(0.004)
GDPPCit-1				0.215
				(1.810)

The standard error is shown in parenthesis, and the significance level is shown by , , and at 1, 5, and 10%, respectively.