Green Economic Efficiency Evaluation Based on the GMM Model

Table 2

Full sample estimation.

	POOLED	FE	SYS-GMM (one step)	SYS-GMM (two steps)
lngdpi, t − 1	0,57539 (0.0596)	0.2860 (0.0332)	0.5750 (0.0736)	0.4224 (0.1085)
lngeei,t	0.2681 (0.0443)	0.4903 (0.0292)	0.2682 (0.0608)	0.3527 (0.0691)
lnki,t	0.1246 (0.0256)	0.0246 (0.0213)	0.1247 (0.0312)	0.1563 (0.0040)
lnli,t	0.2190 (0.0322)	0.2716 (0.0224)	0.2189 (0.0403)	0.2765 (0.0595)
lnhi,t	0.0104 (0.0071)	−0.0066 (0.0169)	0.0105 (0.0095)	0.0441 (0.0327)
lnrdi,t	0.0259 (0.0074)	0.0323 (0.0082)	0.0260 (0.0107)	0.0442 (0.0221)
lnisi,t	0.1351 (0.0283)	0.0902 (0.2828)	0.1347 (0.0390)	0.1538 (0.0709)
AR(1)			[0.0020]	[0.0120]
AR(2)			[0.5430]	[0.7610]
Hansen test			[1.0000]	[1.0000]

(1) , , and represent the statistical tests that can pass the significance level of 1%, 5%, and 10%, respectively; (2) data in () are standard deviations, and data in [ ] are values; (3) AR(1) and AR(2) represent Arellano–Bond’s test statistics, which are used to examine whether there are first-order and second-order autocorrelation in the primary difference residual series, with the original hypothesis that there is no existence of autocorrelation; (4) the Hansen test is used to examine whether there is overidentification of moment conditions, and its original hypothesis is that the selection of instrumental variables is valid. The following table is the same.