The impact of wind and geothermal energy consumption on economic growth and financial development: evidence on selected countries

Geothermal Energy

Science – Society – Technology

Table 6 Model 2 FMOLS and DOLS coefficient estimator results

Model 2	\({\rm lnGDP}_{it}= {\beta }_{0}+{\beta }_{1}{\rm lnGEO}_{it}+{\beta }_{2}{\rm lnWIND}_{it}+ {\vartheta }_{t}\)
Variable	FMOLS				DOLS
	LnGEO		LnWIND		LnGEO		LnWIND
	Coefficient	Prob	Coefficient	Prob	Coefficient	Prob	Coefficient	Prob
Panel	− 0.059	0.118	− 0.159^***	0.000	− 0.019	0.286	− 0.017^**	0.012
Countries
Germany	− 0.037	0.245	− 0.003	0.843	− 0.057	0.199	− 0.003	0.857
Iceland	− 0.050	0.145	− 0.006	0.463	− 0.046	0.311	− 0.007	0.573
Italy	0.526^*	0.053	− 0.009	0.733	0.897*	0.066	− 0.015	0.687
Japan	− 0.079	0.129	0.003	0.807	− 0.121	0.190	0.011	0.654
Mexico	0.104	0.139	− 0.025	0.101	0.073	0.462	− 0.030	0.176
New Zealand	− 0.191	0.152	− 0.035*	0.080	− 0.296	0.331	− 0.053*	0.077
Portugal	0.004	0.830	0.009	0.448	0.003	0.882	0.011	0.576
Turkey	− 0.049	0.245	− 0.034	0.350	0.014	0.836	− 0.115	0.188
USA	− 0.065	0.409	− 0.065***	0.009	− 0.093	0.483	− 0.073**	0.033