Our third result refers to the causality relationships; for these exercises, we consider the entire period and three sub periods: 1870–1909, 1910–1959 and 1960–2014. We do not find causal relations between the increase in natural capital and economic growth in the long run nor in the sub...
The parameters of the subsamples determine the error of the estimates, calculate the t-values and estimate the significance levels in comparison to a Student’s t distribution. As a starting point of the exploratory analysis, a simple model (Causal Model I) was used in which the three types...