Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/280692 
Year of Publication: 
2023
Series/Report no.: 
I4R Discussion Paper Series No. 95
Publisher: 
Institute for Replication (I4R), s.l.
Abstract: 
De Haas and Popov (2023) estimate the effect of country-level financial sector size and structure on decarbonization to show that countries with relatively more equity versus debt financing have more emission-efficient economies. We uncover multiple coding errors that change the magnitude and the precision of the coefficients of interest. These coding errors include misreporting of standard errors, and misspecifying generalized method of moments (GMM) estimators. We further provide robustness tests of the results to (1) restricting the sample to consistent sets of countries across the country and country-byindustry samples, and (2) using a limited information maximum likelihood (LIML) estimator to address a weak-instrument problem. We find that the results from the robustness checks are qualitatively different from the original results but similar to the corrected results.
Document Type: 
Working Paper

Files in This Item:
File
Size
933.58 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.