Exploring the moderating role of financial development in environmental Kuznets curve for South Africa: fresh evidence from the novel dynamic ARDL simulations approach

Financial Innovation

Table 3 Descriptive statistics

Variables	Mean	Median	Maximum	Minimum	Std. Dev	Skewness	Kurtosis	J-B Stat	Probability
CO₂	0.361	0.338	0.477	0.084	0.120	0.217	1.652	4.682	0.196
SE	7.706	7.159	8.984	6.073	0.843	− 0.511	2.156	4.102	0.129
TE	63.316	62.754	80.717	36.880	12.663	− 0.387	2.082	3.422	0.181
M3GDP	3.836	2.914	5.714	2.610	0.610	− 0.214	1.581	3.703	0.193
TDGDP	4.714	3.720	6.103	1.719	1.105	− 0.162	1.520	4.204	0.267
DCPS	3.856	3.617	5.925	1.835	0.514	− 0.157	2.103	3.102	0.102
DCFS	4.213	4.052	5.104	2.042	0.173	− 0.140	1.410	2.415	0.154
FSDGDP	5.052	4.941	5.719	2.710	0.184	− 0.205	1.302	3.103	0.193
TECH	9.360	9.255	10.545	8.210	0.766	0.082	1.634	4.499	0.105
EC	4.220	4.422	4.840	3.177	0.527	− 0.558	1.921	5.621	0.160
FDI	13.203	13.286	14.659	11.913	0.738	0.056	2.463	0.702	0.704
IGDP	3.513	3.580	3.813	3.258	0.161	− 0.215	1.697	4.474	0.107
OPEN	6.060	6.512	7.665	2.745	1.329	0.636	2.077	5.757	0.156