Dependent variable Source of causation (CO2 vs. Renew)
Short run Long run
Panel A: Full
ΔCO2 ΔRenew λ λ/ΔCO2 λ/ΔRenew
ΔCO2 -- 0.58 4.72 ** -- 2.29 *
ΔRenew 0.33 -- 149.97*** 55.14*** --
Panel B: OECD
ΔCO2 ΔRenew λ λ/ΔCO2 λ/ΔRenew
ΔCO2 -- 28.35*** 3.20 * -- 19.75***
ΔRenew 0.91 -- 120.81*** 49.14*** --
Panel C: non-OECD
ΔCO2 ΔRenew λ λ/ΔCO2 λ/ΔRenew
ΔCO2 -- 1.18 2.50 -- 2.08
ΔRenew 0.97 -- 79.62*** 26.59*** --