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Environmental Regulation and Renewable Energies: Evidence from Generalized Panel Unconditional Quantile Regression

Amal Rahmane
Amal Rahmane
, 
Okba Abdelaoui
Okba Abdelaoui
 y 
Issam Djouadi
Issam Djouadi
   | 20 jun 2024
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Publicado en línea: 20 jun 2024
Páginas: 252 - 268
DOI: https://doi.org/10.2478/ceej-2024-0017
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© 2024 Amal Rahmane et al., published by Sciendo
This work is licensed under the Creative Commons Attribution 4.0 International License.

Figure 1.

Scatter graph between variablesSource: STATA 16.0
Scatter graph between variablesSource: STATA 16.0

Correlation Matrix

Total renewable energy Environmental Policy Stringency Environmentally Related Tax Revenue CO2 emissions Patent applications R&D expenditure Growth rate Gross fixed capital formation
Total renewable energy 1.0000
Environmental policy stringency 0.2096 1.0000
Environmentally related tax revenue −0.0489 0.3926 1.0000
CO2 emissions 0.4253 0.0516 −0.1258 1.0000
Patent applications 0.5782 0.2537 0.0420 0.5957 1.0000
R&D expenditure 0.3516 0.4917 0.3552 0.1887 0.5100 1.0000
Growth rate −0.0482 −0.1153 0.0676 −0.0168 −0.0567 −0.0056 1.0000
Gross fixed capital formation 0.6874 0.4009 0.0238 0.6294 0.8670 0.4277 −0.0520 1.0000

Total Renewable Energy Static Models

Pooled Fixed Random GLS
Environmental policy stringency −.273*** .152*** .145*** .056***
Environmentally related tax revenue −.161*** −.029 −.038 .08***
CO2 emissions −.045 −1.297*** −.805*** .203***
Patent applications −.208*** .026 .016 .196***
Research and development expenditure .428*** .433*** .443*** −.028***
Growth rate −.014 −.034*** −.031*** −.004***
Gross fixed capital formation 1.077*** .44*** .475*** .286***
_cons −14.236*** 12.773*** 6.329*** −1.848***
Observations 1056 1056 1056 1056

Total Renewable Energy Non-Robust

Q10 Q25 Q50 Q75 Q90
Environmental policy stringency −.177 .177* .201*** .563*** −.016
Environmentally related tax revenue .184 .241*** −.086 −.013 −.159**
CO2 emissions −2.585*** −.698** −.01 −1*** −2.162***
Patent applications −.779*** −.188 .115 .043 −.056
Research and development expenditure .862*** 1.074*** .196* −.148 .391***
Growth rate −.017 −.035*** −.045*** −.011 −.013
Gross fixed capital formation 2.201*** .658*** .182 −.65*** −.128
_cons −14.352* −2.208 4.678 37.747*** 40.951***
Observations 1056 1056 1056 1056 1056

Total Renewable Energy Bootstrap

Q10 Q25 Q50 Q75 Q90
Environmental policy stringency −.177 .177** .201*** .563*** −.016
Environmentally related tax rRevenue .184 .241** −.086* −.013 −.159**
CO2 emissions −2.585*** −.698** −.01 −1*** −2.162***
Patent applications −.779*** −.188 .115 .043 −.056
Research and development expenditure .862*** 1.074*** .196* −.148 .391***
Growth rate −.017 −.035*** −.045*** −.011 −.013
Gross fixed capital formation 2.201*** .658*** .182** −.65*** −.128
_cons −14.352 −2.208 4.678 37.747*** 40.951***
Observations 1056 1056 1056 1056 1056

Total Renewable Energy Cluster-Bootstrap

Q10 Q25 Q50 Q75 Q90
Environmental policy stringency −.177 .177 .201 .563*** −.016
Environmentally related tax revenue .184 .241 −.086 −.013 −.159
CO2 emissions −2.585 −.698 −.01 −1 −2.162***
Patent applications −.779 −.188 .115 .043 −.056
Research and development expenditure .862 1.074* .196 −.148 .391
Growth rate −.017 −.035 −.045 −.011 −.013
Gross fixed capital formation 2.201** .658 .182 −.65** −.128
_cons −14.352 −2.208 4.678 37.747*** 40.951***
Observations 1056 1056 1056 1056 1056

Total Renewable Energy Cluster-Robust

Q10 Q25 Q50 Q75 Q90
Environmental policy stringency −.177 .177 .201 .563** −.016
Environmentally related tax Revenue .184 .241* −.086 −.013 −.159
CO2 emissions −2.585* −.698 −.01 −1 −2.162*
Patent applications −.779 −.188 .115 .043 −.056
Research and development expenditure .862 1.074** .196 −.148 .391*
Growth rate −.017 −.035 −.045* −.011 −.013
Gross fixed capital formation 2.201** .658 .182 −.65** −.128
_cons −14.352 −2.208 4.678 37.747*** 40.951***
Observations 1056 1056 1056 1056 1056

Statistics Descriptive of Variables Study

Variable Mean Std. dev. Min Max Jarque–Bera test p-value
Total renewable energy 9.716629 1.999758 2.890372 15.08672 84.71 0.0000
Environmental policy stringency 2.03709 1.174578 0 5.055555 318.99 0.0000
Environmentally related tax revenue 6.581747 0.8795824 2.88759 8.155826 1224.68 0.0000
CO2 emissions 11.58532 1.558937 7.152589 15.56919 3.04 0.2184
Patent applications 7.402104 2.23668 0.8526029 12.86712 28.80 0.0000
Research and development expenditure 1.676507 0.9343578 0.25067 5.00197 16.47 0.0003
Growth rate 2.218023 4.115878 −14.62906 24.37045 801.61 0.0000
Gross fixed capital formation 25.00864 1.651858 20.30501 29.2283 3.56 0.1686
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Business and Economics, Political Economics, Economic Policy, Economic Theory, Systems and Structures, Microeconomics, Macroecomics
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