Besides, and not least, the error correction term (ECM) is highly significant in statistical terms, this value represents the speed of adjustment of the variables in the long-run equilibrium, which is fundamental for the understanding of the nexus between economic growth and greenhouse gases both in aggregate terms (Equation (1)) and in disaggregated terms (Equations (2)–(4)), we can say that the annual adjustment speed is slow, analyzing the FE estimators for panels EU 27, EU 15 and EU 12.
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Analysis of the New Kuznets Relationship: Considering Emissions of Carbon, Methanol, and Nitrous Oxide Greenhouse Gases-Evidence from EU Countries.
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