carbon emissions and population growth
TRANSCRIPT
Is economic growth compatible with reductions in carbonemissions? Investigating the impacts of diminished population
growth∗†
Gregory Casey and Oded Galor
December 7, 2016
AbstractWe provide evidence that lower fertility can simultaneously increase income per capita andlower carbon emissions, eliminating a trade-off central to most policies aimed at slowingglobal climate change. We estimate the effect of lower fertility on carbon emissions ac-counting for the fact that changes in fertility patterns affect carbon emissions through threechannels: total population, the age structure of the population, and economic output. Ouranalysis proceeds in two steps. First, we estimate a version of the STIRPAT equation onan unbalanced yearly panel of cross-country data from 1950-2010. We demonstrate thatthe coefficient on population is nearly seven times larger than the coefficient on income percapita and that this difference is statistically significant. Thus, regression results imply that1% slower population growth could be accompanied by an increase in income per capitaof nearly 7% while still lowering carbon emissions. In the second part of our analysis, weuse a recently constructed economic-demographic model of Nigeria to estimate the effectof lower fertility on carbon emissions accounting for the impacts of fertility on populationgrowth, population age structure, and income per capita. The model was constructed toestimate the effect of lower fertility on economic growth, making it well-suited for this ap-plication. We find that by 2100 C.E., moving from the medium to the low variant of the UNfertility projection leads to 35% lower yearly emissions and 15% higher income per capita.These results suggest that population policies could be a part of the approach to combatingglobal climate change.
Keywords Climate Change, Economics, Demography
JEL Classification Codes J11, O40, Q50∗Gregory Casey (Gregory [email protected]): Department of Economics, Brown University, 64 Waterman St., Providence,
RI 02912, USA. Oded Galor (Oded [email protected]): Department of Economics and Population Studies and Training Center,Brown University, 64 Waterman St., Providence, RI 02912, USA.†We thank Lint Barrage and Matthew Turner for helpful comments and Quamrul Ashraf for sharing the economic-
demographic model with us.
1 Introduction
Population growth is a major driver of carbon emissions, both historically and in projections of future
emissions [1, 2]. Yet, relatively little attention has been devoted to investigating the potential for pop-
ulation policies to influence global climate change [3]. Motivated by this fact, this paper examines the
effect of lower fertility on carbon emissions, taking into account three crucial channels: total population,
the age structure of the population, and output per capita. We provide evidence that lower fertility can
simultaneously increase income per capita and lower carbon emissions, even without taking into account
economic damages from climate change. This result is in stark contrast to other environmental policies,
such as carbon taxes and cap-and-trade policies, which must balance environmental benefits against lost
output [4]. Thus, our results strongly suggest that population policies can serve as an effective tool to
combat global climate change.
Our analysis proceeds in two steps. First, we estimate a version of the STIRPAT equation to find
the partial elasticities of carbon emissions with respect to population, output per person, and the age
structure of the population [5, 6]. Consistent with existing literature, we find that the partial elasticity of
emissions with respect to population is larger than the elasticity with respect to output per person [7], and
we are the first to provide formal statistical evidence for this fact. The partial elasticity of emissions with
respect to population is nearly 7 times greater than the elasticity with respect to income per capita. This
implies that 1% slower population growth could be accompanied by an increase in income per capita of
nearly 7% while still decreasing carbon emissions, eliminating a trade-off central to other environmental
policies.
By themselves, STIRPAT regressions cannot tell us about the impacts of changes in population on
emissions, because population growth will affect carbon emissions both directly and through the other
explanatory variables [3, 8]. To overcome this problem, the second step of our analysis employs a
recently developed economic-demographic model of Nigeria to estimate the effect of lower fertility on
both carbon emissions and income per capita [9]. The model was developed to estimate the effect of
fertility on income per capita, and we use our regression results to estimate the impact of lower fertility
on emissions. We find that by 2100 C.E. moving from the medium to the low variant of the UN fertility
projection leads to 35% lower yearly emissions and 15% higher income per capita.
These results have important implications for climate change policy. It is widely accepted, and en-
shrined in international agreements, that the burden of mitigating global climate change needs to vary
between rich and poor countries in order to ensure that developing countries can continue to experience
economic growth and poverty reduction [10, 11]. At the same time, the projected economic and popula-
tion growth in the developing world indicates that these poorer countries will be substantial contributors
to climate change [12]. Thus, there is a need to find policy options that will lessen emissions from
developing countries without impeding economic development. Our analysis suggests that population
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policies can achieve this difficult goal. Moreover, if population policies eliminate the trade-off between
environmental and economic priorities, then they will not suffer from the free-rider problems that pose a
central challenge in current approaches to mitigating global climate change [13, 14].
To the best of our knowledge, we are the first to demonstrate how population policies can simultane-
ously increase income per capita and lower carbon emissions, eliminating a trade-off central to existing
policy proposals. Our paper, however, is closely related to two existing literatures. The first is the lit-
erature estimating the STIRPAT equation [15, 7]. Our key contribution to this literature is to examine
how the STIRPAT equation provides evidence for the ability of reductions in population to achieve both
economic and environmental priorities. From a statistical perspective, we build on the existing STIRPAT
literature by formally testing the difference in coefficients between population and income per capita and
by using an updated dataset for output per person. Second, our work is related to applications of the
population-energy-technology (PET) model that estimate the effect of exogenous changes in population
and urbanization on carbon emissions [16, 3, 2]. We build on this literature by expressly examining
economic outcomes and by considering a broader range of channels through which changes in fertility
affects these economic outcomes.
2 The STIRPAT equation
2.1 Methods
The first step of our analysis is to estimate the elasticity of carbon emissions with respect to income per
capita and population. To do so, we estimate the STIRPAT equation:
Ii,t = P ai,tA
bi,tT
ci,tei,t, (1)
where Ii,t is environmental impact in country i at time t, P is population, A is affluence (income per
capita), T is technology, and e is the residual error term. A substantial literature analyzes STIRPAT
regressions to examine the determinants of many measures of the environmental impact of human activity
[7]. We focus on total carbon emissions.
The STIRPAT equation is derived from the IPAT accounting identity [17, 18], and most applications
of STIRPAT are focused on decomposing environmental impacts between explanatory variables. This
decomposition can be aimed at explaining past emissions or predicting future emissions. Our goal is
slightly different. We want to understand the effect of changes in fertility on both environmental and
economic outcomes, accounting for the effect of fertility on population levels, population structure, and
income per capita. Thus, we use the partial elasticities from the regression equation to parameterize our
economic-demographic model (see section 3).
3
Given our goal, the difference between the coefficients on population (a) and affluence (b) is of
primary importance. Thus, in all regressions, we test the null hypothesis of a = b. While the literature
provides a wide range of estimates for both coefficients – depending on the dependent variable under
consideration and the choice of regression specification – we are the first to test for a difference in
coefficients between population and affluence [7]. If a is significantly larger than b, then decreases in
population can lower carbon emission even while substantially increasing income per capita, overcoming
the trade-off central to most environmental policies.
To estimate equation (1), it is necessary to assume a specification for technology (T ). We make the
following assumption:
lnTi,t = fi + gt + hlnSi,t + x′i,tδ, (2)
where fi is a fixed effect capturing time-invariant differences between countries, gt is a fixed effect
capturing differences in global technology over time that affect all countries, Si,t is a measure of the
age structure of the population, and xi,t is a set of control variables including urbanization and trade. All
three of the time-varying explanatory variables have been found to affect carbon emissions in the existing
literature [19, 2, 15]. The inclusion of age structure, Si,t, is important for our results since changes in
fertility patterns mechanically alter the age structure of the population, implying that we need to capture
this effect in the economic-demographic model. We assume that trade and urbanization, however, are
not directly affected by fertility or income per capita. Thus, we include them in the regressions to avoid
omitted variable bias, but do not employ them in our simulation model. In the appendix, we also include
income per capita squared to capture the environmental Kuznets curve (EKC), but the term is insignificant
in our main specification.
Recent advances in the STIRPAT literature have demonstrated the importance of correcting for po-
tentially non-stationary variables [20, 15]. Thus, our main specification estimates a log-linearized version
of (1) in first differences. Thus, our estimating equation becomes:
lnIi,t − lnIi,t−1 = a(lnPi,t − lnPi,t−1) + b(lnAi,t − lnAi,t−1)+
c(lnSi,t − lnSi,t−1) + (xi,t − xi,t−1)′δ + (gt − gt−1) + (lnei,t − lnei,t−1),(3)
where c = ch, δ = δc, and gt = cgt ∀t. It is crucial to note that the coefficients on population and
affluence are still the same as in equation (1).
Our equation is estimated on an unbalanced yearly panel of countries. We use standard sources for all
data. Our dependent variable is carbon emissions from production, which are from Oak Ridge National
Laboratory [21]. Our measures of population and income per capita come from the Penn World Tables
(PWT) version 8 [22]. We employ the newly created output-side measure of income per capita, which
is the best match for our emissions measure. Age structure, urbanization and trade data are all from the
4
World Bank’s World Development Indicators database. To capture age structure, we use the fraction of
population of between the ages of 15-64, which we denote as ‘working age.’ In the appendix, we show
that all our results are robust to alternate measures of income, alternate samples, and alternate estimation
strategies.
2.2 Results
Table 1 presents the results of the STIRPAT regression using equation (3). In column 1, we present a
simple regression with only population and income per capita as explanatory variables. This specifica-
tion highlights the potential for lower population to decrease emissions and increase income per capita
simultaneously. Specifically, the coefficient on income per capita is .207, while the coefficient on popu-
lation size is 1.364, a 6.7-fold difference. The difference is statistically significant at the .1% level. The
difference in coefficients implies that a decrease in population can both decrease emissions and raise
income per capita as long as the elasticity of income per capita with respect to population is less than 6.7.
Thus, decreases in population can achieve both environmental and economic policy priorities. To ensure
that this result is not driven by outliers, figure 1 presents the residual scatter plot from the regression in
column 1.
Column 2 adds the share of the working age population, the other key variable to be affected by a
change in fertility. While significant, the inclusion of the working age population has little effect on
the population and income per capita coefficients. To ensure that our results are not driven by omit-
ted variables, the final two columns add controls for urbanization and trade. Again, the key results
are unchanged. In all cases, the equality of coefficients can be rejected at the .1% level. Importantly,
the regression coefficients are not substantially altered by the inclusion of urbanization or trade, which
provides support for our assumption that changes in population do not affect carbon emissions through
these channels. If urbanization was an important channel through which population led to increases in
emissions, the coefficient on population would decrease substantially once urbanization was included
as a control variable in the regression. Our preferred specification is column 4, which includes con-
trols for the major confounding variables identified in the literature. Thus, we use this specification to
parameterize the economic-demographic model in the second phase of our analysis.
In the appendix, we show that our key qualitative result – the large difference in coefficients between
population and income per capita – holds in a number of other settings. To ensure that the results are
not driven by attenuation bias, which can be exacerbated by differencing, we demonstrate that the results
hold when estimating the equation in levels. In this case, the squared term on income per capita becomes
significant. While our goal is not to provide a detailed examination of the EKC relationship, the fact that
first differencing removes the squared term is consistent with existing literature [23]. We also show that
the results are unaffected by moving to a balanced sample of countries, indicating that the results are not
driven by the changing sample. We also re-estimate the STIRPAT equation using total income, instead
5
of income per capita. The population coefficient is statistically significant in this specification, further
supporting the idea that population matters above and beyond increasing total output. Finally, we show
that the qualitative results are unchanged if we use several other measures of income per capita. We use
the consumption-side and national accounts measures from the PWT, demonstrating that our results are
not driven by the use of the output side measure, as well as the exchange-rate based measure from World
Development Indicators, demonstrating that our results are not a byproduct of the adjustments for price
differences across countries.
2.3 Discussion of regression results
The regression coefficients presented in table 1 capture the effect of the explanatory variables on carbon
emissions through two key channels, the energy intensity of output and the carbon intensity of energy,
in addition to their direct effects. Unfortunately, regressions of this type cannot tell us more about the
specific mechanism through which population and output affect carbon emissions. Since our economic-
demographic model does not explicitly model the energy intensity of output or the carbon intensity of
energy, we rely on the simplified reduced-form relationship provided by the STIRPAT regression to
parameterize the effects of population, age structure, and income on carbon emissions. Understanding
the exact causal mechanisms underlying these regression results is an interesting and important way
forward for future work in this area.
While we are the first to formally test for the difference in coefficients between population and
income per capita, these results are consistent with the existing literature. Jorgensen and Clark estimate
an equation similar to ours, and the results display the same qualitative pattern [19]. Specifically, they
find a population elasticity of 1.43 and an income per capita elasticity of .65 in their first-differenced
specification with similar results in alternate specifications. Our major differences in specification, in
addition to formally testing for different coefficients, include the use of new data, differing time scales,
the inclusion of age structure, and the use of time fixed-effects in all specifications. They find that the
elasticities are relatively stable across time and space [19, 24]. Knight et al also find similar results
when focusing on alternate population measures such as employed persons and hours worked [25]. For
example, when also controlling for hours worked, they find a population elasticity of 2.25 and an income
per capita elasticity of .59. Earlier work, which did not use panel data to mitigate omitted variable
bias, finds similar coefficients for population and income per capita [5, 6]. More exhaustive reviews of
elasticities found in the existing literature, as well as discussions of different estimation techniques and
specifications, can be found in O’Neill et al (2012) and Liddle (2014, 2015) [2, 15, 7].
More recently, a growing literature has included ‘intensity’ variables, such as the energy intensity of
output, in STIRPAT regressions and found more similar coefficients between population and income per
capita [26, 20, 7]. This addition is an important step forward in accounting applications of STIRPAT, but
is not appropriate for our purpose. Our goal is to determine whether decreases in fertility can simultane-
6
ously achieve economic and environmental policy priorities. As noted above, our economic-demographic
model does not have an explicit energy sector, and therefore, the appropriate regression coefficients must
include the effect of population and income on carbon emissions via the energy intensity of output and
the carbon intensity of energy. Earlier results including ‘intensity’ variables suggest that the difference
in elasticities between population and income per capita could be explained by a greater effect of pop-
ulation on the energy intensity of output, which is an interesting area for further study. As discussed in
section 3.2, the careful modeling of fertility and omission of an explicit energy sector in the economic-
demographic model represent a trade-off when compared to modeling strategies based on PET [16, 3, 2].
Section 4 discusses several ways that the current analysis could be extended in future work, including
more explicit modeling of the energy sector.
3 The Impact of fertility on economic and environmental outcomes
3.1 Methods
The second step of our analysis quantifies the effect of lower fertility on economic and environmental
outcomes. STIRPAT regressions, while useful for decomposition exercises, are insufficient for deter-
mining the overall environmental impact of an exogenous change in an explanatory variable [3, 8]. The
regression cannot tell us about the relationship between the explanatory variables. To fully account
for these interdependencies, we use the economic-demographic model developed by Ashraf, Weil, and
Wilde (AWW) [9]. The model was constructed explicitly to evaluate the effect of changes in fertility on
income per capita, making it well-suited for our purposes. We examine the effect of an exogenous reduc-
tion in fertility on both economic and environmental outcomes in Nigeria. As in the original analysis,
our exogenous change in fertility is a movement from the medium to the low variant of the UN fertility
projections, though we use the most recent projections [27].
The AWW model examines the effect of fertility on economic growth through several channels,
which can be divided into three main categories. We call the first category composition effects. Changes
in fertility alter the age structure of the population, which affects economic output through the number
of people of working age (the ‘dependency effect’), savings behavior (the ‘life-cycle saving effect’), and
labor supply differences within the working age population (the ‘life-cycle labor supply effect’). We
deem the second category behavioral effects, which encompasses changes in economic behavior for an
individual as a direct result of having children. When fertility is reduced, parents have more time to
work (the ‘childcare effect’) and can invest more resources in the education of each child (the ‘child-
quality effect’). The third category is factor accumulation. High fertility reduces the amount of physical
capital per person (the ‘Solow effect’) and natural capital per person (the ‘Malthus effect’). Moreover,
the increase in labor force participation caused by lower fertility leads to greater human capital via work
experience (the ‘experience effect’).
7
We use the AWW model to measure the effect of the change in fertility on the total population level,
the age structure of the population, and income per capita. We then combine the model output with our
regression results from column 4 in table 1 to estimate the impact on carbon emissions. Since we do not
know the future values for the time fixed effects, we estimate the ratio of carbon emission between the
two scenarios.
Our work in closely related to analyses that estimate the effect of exogenous changes in population
and urbanization on carbon emissions using the PET model [16, 3, 2]. The key difference between the
analyses is that the present paper is expressly interested in the effect of fertility on both economic and
environmental outcomes. Thus, we use an economic-demographic model specifically designed to esti-
mate the effects of fertility on economic growth, accounting for all of the channels discussed above. The
earlier works focus on compositional effects and do not report economic outcomes from their analyses.
This approach involves trade-offs. The PET model captures rich details of the population composi-
tion and energy sector, but only examines some of the channels through which fertility affects economic
outcomes. Another strength of the AWW model lies in the careful selection of well identified parameters
taken from the existing microeconomic literature. Thus, the parameters are strongly grounded in the his-
torical experience of Nigeria. The strict requirements for parameterizing the model, however, imply that
it can only be applied in a single country, unlike the PET model. Also, the demographic model does not
explicitly model the energy sector. Instead, we use the STIRPAT regressions to capture the reduced-form
effects of population, age structure, and income on carbon emissions.
3.2 Results
The results of our analysis are presented in figure 2. In all cases, results are presented as the ratio of the
outcome under the low fertility scenario compared to the outcome under the medium fertility scenario.
Panel A presents the outcomes of the major variables in the analysis. Emissions are sharply reduced
under the low fertility scenario, while income per capita increases. This is the key qualitative message
of our analysis. Specifically, emissions fall by 10% by 2055 and 35% by 2100. Income per capita,
meanwhile, increases by 10% in 2055 and 15% by 2100. Thus, the income gains occur sooner, while
emission reductions are back-loaded.
The share of the population that is of working age increases slightly as a result of the change in
fertility patterns. At its highest point, the share is 4.5% higher than it would have been without the
reduction in fertility. The reduction in population follows a path very similar to that of total emissions,
demonstrating how strongly changes in population levels drive emissions.
Panel B translates these effects into their impact on emissions. As suggested by panel A, emission
reductions due to lower population drive the results. Increases in the working age fraction of the popu-
lation and income per capita have only small positive effects on emission levels. Between the two, the
8
change in the working age share has a bigger effect on emissions than does the increase in income per
capita, though the effects become more similar over time.
The appendix includes results when using alternate specifications and measures of income per capita.
In all cases, the qualitative effects are similar. The most significant difference occurs when using the
balanced regression sample or estimating the regression in levels. In this case, emissions increase in the
low fertility scenario briefly, due to the increase in the share of the working age population. By 2100,
there is a substantial decline in emissions, leaving our key results unchanged.
4 Discussion
The trade-off between economic and environmental priorities is central to the most commonly discussed
policies aimed at combating global climate change [4]. It is important to note that population policies
have a positive effect on economic outcomes before considering the feedback from environmental to
economic damages. This is the crucial difference with integrated assessment models – which often
translate all damages in economic units – that show a positive effect of climate policies on economic
outcomes [28, 29]. These feedback benefits would certainly still occur as a result of population policies,
but they are not necessary to achieve positive economic outcomes.
While our primary goal is simply to demonstrate that lower population policies can simultaneously
increase income per capita and lower carbon emissions, our results also have substantial implications
for policy. First, implementing population-based policies in developing countries could help overcome
problems of international burden sharing in the reduction of climate change [30, 10]. This is especially
relevant given high predicted fertility in developing countries and evidence for a high unmet demand for
contraceptives [31, 27]. Indeed, under certain burden-sharing agreements, poor African countries are not
expected to substantially contribute to emission reductions over the next several decades [30, 32]. Yet,
our analysis suggests that moving to a feasible fertility scenario in Nigeria can lower relative emissions
by 10% in 2055 and 35% by 2100. Second, since such policies do not have inherent economic trade-
offs, they do not suffer from free-rider problems, implying that it will be substantially easier to reach
agreements to lower emissions through population-based policies [13, 14].
We do not argue that population policies are a panacea for solving environmental and economic
problems. In particular, we have not shown that population policies are sufficient to meet reasonable
emissions targets on a global scale or even that feasible reductions in fertility would bring emissions
below their current level, which would require a reduction in the level of population. Instead, our re-
sults suggest that population policies could be a component of the international approach to climate
policy. Indeed, given the fact that many countries – especially wealthier countries, China, and Russia –
contribute substantially to global carbon emissions despite having low rates of population growth, it is
highly unlikely that population policies will be the primary driver of emission reductions. Still, what-
9
ever global emission reductions can be achieved via population policies can be achieved without the
economic trade-off central to most other policies and will likely be easier to implement given the lack
of free-rider concerns. To understand what role reduced fertility can play in the reduction of total global
carbon emissions, future work would need to extend the analysis presented here to the entire world.
Our analysis has examined the effects of an exogenously lower path of fertility given by the UN,
rather than the outcome of a specific policy or set of policies. There are many policies that may lead
to lower fertility, the most obvious of which is the provision of contraceptives. There are a number of
other policies, however, which would also alter fertility in developing countries. As with all decisions,
parents have limited resources to allocate to raising children and, as a result, many economic policies
will influence fertility rates. In particular, parents must decide how to allocate resources between having
more children and investing in the future of each child [33, 34, 35]. There is considerable evidence
for this ‘quantity-quality trade-off’ in the economics literature [36, 35, 37]. Thus, policies that increase
incentives for investment in education, for example, can also lead to lower fertility levels. Any policy that
affects fertility will likely affect the evolution of population, age structure, and income per capita through
other avenues, such as the effects of increased taxes or changes in government budgets. Examining the
effects of particular policies represents an important area for future research to build on the analysis
presented here.
While this analysis has demonstrated the potential for reductions in fertility to simultaneously achieve
environmental and economic policy priorities, many opportunities remain to extend the analysis, as noted
above. First, the model employed here does not include a detailed representation of the energy sector.
Understanding how population, age structure, and income per capita differentially affect the energy in-
tensity of output and carbon intensity of energy is an important step towards understanding why lowering
fertility can have these outcomes outcomes and how to design targeted policies that can overcome trade-
offs central to most efforts at combating global climate change. Including such mechanisms in the mod-
eling stage of an analysis like ours could also sharpen the quantitative estimates. Second, expanding the
geographic scope of the analysis is necessary to more fully understand the role that population policies
can play in mitigating global climate change. Finally, evaluation of any particular policy necessitates
extending the analysis to include specific reasons for the decline in fertility, rather than taking such a
change as exogenous.
5 Conclusion
We have demonstrated that lower fertility can simultaneously achieve environmental and economic pol-
icy priorities. This stands in stark contrast to most policy options aimed at mitigating global climate
change, which involve significant trade-offs between wealth and environmental protection, at least be-
fore considering the economic damages caused by reduced environmental quality. Thus, our research
10
suggests that population policies could be part of the global policy response to climate change. Indeed,
such policies may receive increased political support because they do not suffer from free-rider problems.
We hope that our analysis will spur further research regarding the ability of population polices to combat
climate change.
6 Supplemental Information
6.1 Data
Our emissions data comes from Oak Ridge National Laboratories and is standard in the literature [21].
The dependent variable is Total CO2 Emissions from Fossil Fuels, which is measured in thousands of
metric tons of Carbon. The estimates of carbon emissions are constructed using fossil fuel inputs in
production [21, 38].
We take output and population data from version 8.0 of the Penn World Tables [22, 39]. The Penn
World Tables measure real GDP, which accounts for differences in prices across countries. A major
innovation of version 8 is that there are now several measures of real GDP. For our analysis, we use
output side real GDP, rgdpo, which measures the level of production, as opposed to consumption, in the
economy. This is best choice because our measure of CO2 is calculated based on fossil fuel production,
rather than consumption. GDP is measured in 2005 USD. We also take population values, pop, from the
Penn World Tables. Output per capita is just the ratio of the two variables from the PWT. The data cover
1950-2010. We use alternate measures of income in robustness exercises.
We take data on the population age structure, urbanization rates, and trade from the World Bank’s
World Development Indicators (WDI) database. Trade is measured as: (exports + imports)/GDP .
We also use the exchange-rate adjusted measure of income per capita in robustness exercises.
We drop any country from the analysis that has GDP per capita greater than 100,000 USD 2005 in
any year. We take these high GDP numbers to indicate that true production levels are not well measured
by the PWT approach. This eliminates Bermuda, Brunei, Kuwait, Qatar, and Saudi Arabia. There are
also two country-year observations with negative emissions, Senegal in 1968 and Yemen in 1990, which
we drop from the analysis. Our qualitative findings are unchanged if we include all of these observations.
We also remove Israel, Cyprus, and Malta, which are clear outliers that bias the results in favor of finding
much larger coefficients on population.
6.2 Regression Analysis
Regressions were performed in Stata statistical software. Within R-squared is calculated using the user-
created module ivreg2 [40].
11
6.3 Demographic Simulation
Ashraf et al. (2014) construct an economic-demographic simulation model that uses standard economic
modeling to predict the aggregate effects of an exogenous reduction in fertility [9]. They study Nigeria
from 2005-2100 under the medium and low fertility projections from the United Nations [41]. The
output of the model is future paths of population, age distribution, and output per capita under different
fertility scenarios and parameters estimates. We employ the results from their main exercise, which
has zero technology growth and the authors’ preferred estimates for each of the key parameters. We
update the analysis to use the newest version of the UN projections [27]. We then combine the model’s
projections with our econometric estimates to construct predictions for relative carbon emissions under
the two scenarios using the following equation:
emissionsj,temissionsk,t
= exp
(0.226 ∗
(ln(gdppcj,t)− ln(gdppck,t)
)+ 1.439 ∗
(ln(popj,t)− ln(popk,t)
),
+ 0.016 ∗(ln(WAj,t)− ln(WAk,t)
)),
(4)
where j denotes outcomes under the low fertility scenario, k denotes outcomes under the medium fertility
scenario, and WA is the percent of the population between ages 15-65.
We make a few modifications to the starting values in the model. The original model does not
impose the actual levels of GDP for Nigeria and, instead, is only concerned with the ratio between the
two scenarios. We impose the level of GDP and physical capital in 2005 using the data from PWT version
8.0 for Nigeria in 2005. Consistent with the regression data, we use output side real GDP, rgdpo, which
is 220,303.3 million 2005 USD. For the capital stock, we use rkna, which is ‘Capital Stock at Constant
National Prices’, yielding 339,150.3 million 2005 USD. Unfortunately, the capital stock is not available
as an output side measure. We then normalize the ‘Fixed Stock of Land’ to 1. When combined with
the 2005 stock of human capital, which is already calculated in the original model, this yields a level of
technology of A = 4.46.
Our adjustments have a very slight effect on the ratio of output per capita that comes from the the
model. Specifically, in 2100, the original formulation leads output per capita that is 15.80% higher than
in the low fertility scenario. With our adjustments, the output per capita ratio in 2100 is 15.86% higher
in the low fertility scenario. The ratio of population and the fraction of the population of working age
are exogenous and unaffected by imposing the initial level of GDP.
12
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15
7 Tables and Figures
Table 1: Determinants of Carbon Emissions: GDP per capita and Population
(1) (2) (3) (4)Ln pop. (a) 1.364*** 1.469*** 1.406*** 1.439***
(0.172) (0.176) (0.175) (0.203)
Ln gdppc (b) 0.203*** 0.207*** 0.206*** 0.226***(0.042) (0.044) (0.044) (0.052)
% Age 15-64 0.016** 0.016** 0.016**(0.007) (0.007) (0.007)
% Urban 0.008* 0.014***(0.004) (0.005)
Trade (% of GDP) 0.0002(0.0002)
Year FE Yes Yes Yes YesObservations 7133 6426 6426 5679Countries 156 153 153 147R-Squared 0.05 0.05 0.05 0.05Within R-Squared 0.017 0.020 0.020 0.023P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.036 0.009 0.022 0.032
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
16
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NERNORPANTURKEN
JAM
SWEURYSVKBGDCOLCRICHEMKDROUGTM
SLEBGDLAOUSAHND
TZA
ETHSENLVANORITARWANZLESPECU
COD
NGA
ZAFTZALVARUSGRCAUSBLRSWE
NPL
MRTECUSWEMLIALBCHEGBRMARHRVUSAEGYTCDGNQINDGTMEGYSWETGOMUSCAFPRYOMNUSASTPNZLMEXCRICANSLE
GBR
GAB
NLDSTPARGURYVEN
MRT
KGZEGYITAARGGBRFRASWEEGY
NZLOMNGABNLDBLRGTMNGAJORPRYITADNKNERMYSSLEHNDVNMBGDCOL
IRL
NPL
BOLNLDVENCOMCANMUSSVNGMBRWABLRCOMGTMDNKMRTBOLAUTNORTWNBGRPRTGTM
VNMGTMSLVIDNBRAJAMMYSFIN
CHN
BDIGNBBELYEMHNDKHMCAFMEXMEX
BRB
NGA
IRLNORNGACMRLCAETHARGSWENORPAKBELHUNEGYLUXNPLNORMEX
SWZ
PANINDZWEDNKIRL
JAM
ISLUSAZAFGINNLDMLIGIN
VCT
NGADNKBELZAFIRQBRAROUNZLZMBIRNPHLKHMTHA
MNE
JORNLDDNKTGOSWE
BDI
BOLGTMARMDNKCHECOGFRASWEALBSENCMR
MUS
NORESPAGO
MUS
KHMURYETHAUTCODFINCPVSTPCHEECUDNKPRTTUNBELBELBRAROUSENMARDNKBGRGMBCPVCOLGINLKACHEBIHINDUGA
MUSBRBCHEARGGINEGYNAMIRLMRT
TCD
NLDSVNAUTGBRSGPTWNMUSMOZUSACOLCHEINDTZAPANRWACANTUNDEUEGYUGA
NPL
NGA
TGO
GRD
BFAHNDCAFMRTCHECHETHASTPNORDNKBRBLAOJPNNGAPRYTUNNORDEUCHEMARBLZCOLCOLCHE
BRBAUSBFAMARBGRHNDECUECUNZLTZA
CRI
CRI
ECUUGATKMGINIRL
BGRBHS
UGADNK
ETH
CHEMARPRYECUITANLDSWEKORFINFINBHSGHACOLAUSAUTBGDNLDCOL
TTO
PHLSENCHNGTMNGALBRSWE
JAM
ARGMDGSYRLUXSURJAMIRLAUTMNGPAKBOLAUS
NGA
FRAFJILKAUSABOLGTMGRCKNADNKKENNORPRTCHLNLDLCAFJIEGYTCDSWEIRLVCTNGAGTMPRYARGPERBGDECUETHCANFJIFINDNKGBR
GAB
CANNGANZLNLDIRQNERURYZWEGBRNLD
AGOARGIRLKAZ
ISL
LTUALBZAFSWEUSAINDNLDBELPHLECUCHNHNDZAF
UGAMRTJAMGINBELCOGZWEGBRPAKMDGSDN
SGPIDNBRANGAPRYDOMUSASENNGA
COLCHLFRANGAEGYARGKENZAFBFANGACAFBRA
NGAPRTSWENORHUN
LSO
GMBTUNZAFCRI
URY
NZLSWESLVIDNVENHNDCANMOZYEMECUHNDSDNNGAMDGCMRHNDUGACHETWNBRA
GAB
VENPOLVCTPRYFRAGBRPRYCANDOM
BELTTOVNMSVNFJI
GIN
BENMNGHNDNERVENLVAARGIDNDNKVNMBLZBGDAUT
ECUBELCHLSLVKORGTMSLVBENVNMBRBFRAIRLBRABGD
JOR
TTOCOLAUTBEN
ETH
GHAESTCHEPRTECUSLVTGOFINNGABFABOLHNDAUTINDCOL
ECUGMBKEN
FIN
MOZLTU
MUS
ITAGBR
LAO
IRLECU
NGAPANPOLUGA
COG
BDICZEEGY
ETH
GINJORGTMCHLZAFNZLMYSCMRMEXROUPRYZAFZAFCOGIRNMEXNGA
HND
ITAGRCDJI
PRY
SENTHACMRPOL
NGA
SGPOMNBGR
BDIHUNGTMFJIPAKNLDBRBSLVTHACAFCHE
THADEUTZACPVSVNCHNBGDCHNAUTUGANGAMYSCOMNORCHLSVKBLZNORLKAMDGBELESPDOMJPNMRTZMBSLVGHAGHABELSWEBELIRQETHCOMUGAIRNNORZMBUSA
SDNHKGSWEECULBNPERLUXTUNCOLSWECOLPRTAUSCPVDNKFINPRTBIHTZANORITAITAMARSLVMEXNGADEUCANJORZAFPHLECU
SWEUSAZAFCMRNGACHEDMAZAFBELZAFTHAMLIBRBZAFSLVCHE
ROUSTP
SVKTWNZAFRWA
KNAGNQ
FRAFRAIDN
RWA
CHNLTUOMNMEX
BEN
TZACHNKORBWATUN
MAR
BOLNORISL
ESPHNDEGYTUNKHMNZLNLDTGOGTMBELPERFRASLVPOLSENSWENAMAUSCMRHUNBRBAUSROUBIH
EGYUGA
MDGBWA
LKANZLINDPERFJISLVAUTPHLMARGBRTHANZLMEXAUTHKGCANDMAMDVIDNUSAGBRECUSDNGTMGBRNGAETHPAKARG
ETH
MUSIDNCRISWEBELFINLUXCHEFRAMWIPERSWZMDVCMRUGAMUSFRAMNGBRAGRDAUSITAMEXCOMAUTCANPAKJAMITACOMZMBTUNAUTMEX
BEN
TWNISL
IRL
PERNLDGHABELPERPAKAUS
SEN
MEXGNBTGOGBRCHLBTNGNB
LKA
JAM
CANAUSBDIURYKNANZLHKGAUSSVNHUNIDNMWIFJIPRT
KENECULVAFRACHECMR
KEN
ITAITANAMKENMEXCAFTZALBRDJI
BTN
VNMCHEPRYGBRDNKGBRNZLBRBPRTMRTLBRLUXAUTMDASGPGRCFIN
BRBCZEMWIMYSLKA
JOR
MDGNGADEUSLVSVKKNA
NGASGPAUSMOZUSAURYAUTROUPRYPHLMLIBFADOMVENHRVPRTISL
ECUIRNNGAMNGECUCOMKHMMNGFJIBELSENGRCBWAALBDNKNGALUX
BTN
BELKENNGACPV
LAOESPIDNNGADOMJAMSTPBHS
MYS
ETHGRCCOLITABELTWNAUT
SGP
NZLBOLMOZBELTURUSAGTM
BDI
ETHCHEPERGRDUSARWAPOLEGYDNKPANDNKZMBISLGRCGHAAUSBOLBOLCOLLBRBRA
VNM
USASVNBOLZAFNZLHNDNZLSTP
GMB
NGA
FRAARGCRICOMBELCHELKAKENCRI
MOZ
BRATTOSGPESPNORESPPHLALB
MDV
MWIGTMURYALBUSAGNQIDNFINUSAMOZPAKETHSWZIRNLUXMYSCRITHANORGNQJPN
TGOESPAUTCOLSYRKENJORLBNLBRDMALKAKORITASWE
COG
ECUKORMLIROU
VCT
CHLIRLSTPAGOALBPANHUNMDVMDGNAMLBNSYRSWELUXZAFURYUSAGBRCRIMRTBGDATGUGAZAFESPPRTCANPERINDDNK
BLZJAMCRIPRY
SLV
GMBIDNNLDMOZIRNNGACHELKA
DNKSVNGEOBGDVNM
SDNBENGMBITAJAMSWEMARGAB
NPLNLDSLEBENBGD
RWA
ITAUGAUSACRIDMACHLPANGMBROUCANHNDDNKBRANLD
TTO
AUS
SDN
CANPAKGTMTURBGRUSAKORBRBESTCAFTCDIRLPRYLKARUS
PAN
FRACHECOLMDGLKAHRVVENNZLBGDPRTLKAMRTFRAZAFMARNAMBOLZWELCAISLLAODEUZAFFRAMYSMEXSENNZLPHLFJICMRKORLBRESPLCAUSAKOR
SWE
ECU
BHS
SVNCHNPRTPHLLAOESPAUTSLEBELGBRESPBRABENKORFRACHENGADNKNGASYRLTUFRABELNGA
CMRTTOAUSEGYCOLSLEJPNJPNBLRITAHNDCMRSURSVKGNBFRABGDFRABGRBRAPHL
NGA
GBRURYVENAUTSLV
LKA
HNDMRTSVNPERIRL
VCT
ISLRUSFRAMYSPANNZLSWZPANFRAMARCHLLKAAGOLKASLVUSATURCANTGOPANNORZAFIRNLCA
LKAMKDSVNALB
YEM
CRIBELTWNTWNGBRTUNCANGTMFINPERDNKZWEDEU
ZWE
NGANGAALBKORJAMBRAHNDPHLCZECANGTMDNKBTNAUSFJIAUSROUPHLNER
ETH
ALBNLDFINGTMUSABRBMWILKATCDMWIYEMPHLPAKMOZGRCAUSMLIPERSUR
SUR
GTM
UGACHNGBRRWA
CRICANMYSBELNZLCOLAGOCHLCAN
TZA
FRA
GTMAGO
LBN
OMN
SLE
CRIZAF
TTO
TURAUTPAN
EGYIRQ
SVK
SLVUGABENPOLHNDJPNBELMARRWAGRDGBR
TKM
MUSUSAECUECU
PAKMOZMKD
DMA
UGANGAMWIIRLTHAUSAGNBMARSWEAUSFRAFRADEUSLVNLDPERGHAKNAFRABRAZAFDJI
ATGAUSCRIIRLSWEGRDCOG
INDCMRMDGNERMDGPERCANTUNITAMEXESPNORFRAMEX
MYS
CPV
HRVECUDJITGODNKNZLMDVDMAECUCANCAFCANMWIZMBBRATTOGTMFINFRAGBRURYCAFGTM
PAN
VNMTHABELBELBGDDNKDOMMEXUSACHEURYGINMUS
BWA
NORSYRROU
SDN
DOMBFAHRVHKG
BFAJAM
IRLPOL
DOM
TTOMEXTTOIDNIRLUSANLDGRCMARTWNUGAUSASWEJPN
LAOHNDPOLAUSIND
BOL
SWZAUTIRQ
ARMCHELTUPHLJPNBRBDMACHNCHEGINZAFGTMITABFASLV
CHNALB
CRIURYSLEHRVOMNMARLUXAUTITAISLSLEBOLMYSRWAPERAUSPAKTGOUGAHUNPANTGOFINCRIMUSUZBDNK
IRL
VNMBLZIRNALBPRTHRVYEMESPNGA
LVA
GTMHKGLCAPRTPHLCHEGTMTURMKDNORCMRFRA
BLZ
TTOPRTMYSLKAVCTMYSAUSGTMTUN
MUS
BENCOLCHEKENNERTKMCOLMEXLTUNORPHLGBRRWAPHLBRATWNAUTSWE
LAOURYSWEEGYCHNMUSAUSKHMATGIRLGRCINDFRANLDFINTHA
UGADNKBELGRCNLD
NGA
NERLVAIRL
TWNZAFSWEKNAEGYBELTHATUNTWNGINCANPAKINDTKMDNKIDNPAKFRAROUTWNTZAPRT
BTN
UGANZLPAKCANCOLBRAPERFINPAKTHA
LBR
BRAMUSAUTNLDMYSTHASTPNLDBRACRITGOGTMCPVBOLMEXBOLLTUNORISL
PRY
GNQBELGBRBRAPRTCRI
UGAMARRWAPOLPAKPHLCZEMKDCPV
IRQ
URYFINFRANZLLAOZAFMEXKENESPARGMUSUKRAGOARGMWIPHLTURVCTPAKUSATHATHATUNEGYAUT
ECU
ZAFROUDOMUSAFRACHEKORDMABGDNZLVENTKMECUNGAIRNITACHL
DOM
LUXUGA
SLE
CANHNDETHTWNROUMYSMOZPERJORBIHKEN
MOZ
NLDPANTWN
VEN
IDNCOLTGOBENCHLSTP
CHENZLMYSMEXOMNRWAFRANGAGNBDMADNKCOGSVKIRNLCA
BGD
THATJK
TWNBHSNORCHLALBPRTHKGKORBOLBWAESPBELINDCAN
TTO
FJISWETURMOZAUT
BTN
RWANLDCHNVENMEXMLI
LBR
JPNPERLBRPRYETHMUS
BHS
MNGUSACRINORGRCPRTNPLCHEIRLVENAUSSWEROUECUGRCSTPDOMTUNLBRMYSITAAZEPOLZAFAUTDMADOMESPHNDKORIND
EGY
TGOAUTFRAPRTTCDCPVBWAROUFRAAUSTTOJPN
NGA
DJIPANBOLALBNLDMKDTURNPLAUTMYSKGZFRAJPNINDZAFZAFVCTBRBVENSVKPRTMYSSGPUSAHNDMWILAOBFANORESPZWEAUTCHLCPVCOD
MRT
CANHNDVNMPAKITACANCOL
TZA
NZLGTMKENSTPFRAINDESPGNQECUBFAVENNLDVCTBELVENAUSPHLSWEPHLBRABOLTZAMNGMDADOMITACZEINDCOGDMAHNDTWNARGCOMNOR
SEN
GTMLBRMARIRLBELIRLPANSYRLKA
PRYHKGTURITABRABGRARGLTUCHN
TZABTNBGDDEUCRIPERMLIDNKGBRFINKENBGRESPHRVAUSBFATURLBRFINARGSURKORBFAITAEGYLKABIH
LKADOMFRABFAGABESPSURITACANPANCRIPOLCAN
TZABDI
GNQZMB
NORNGAMOZATGGINJORTUNBLZHKGBOLUZBGHATUNGRCVNMMDVBGRBENMEXIDNMDGTGOBGDGBRZWE
DNKESTGRCBFAJPNPRYMEX
MDV
CAFMNGNORMYSCOD
BEN
BGRARMBGDVENPAKBTNBFAARGSVKLBNUSAVNM
AGO
ESPARM
BLZVNMBWAINDDNKAUTCOL
ALB
PAKZWEINDNGACHNHUNGHALCALBR
VCTGRCTWNCHEPRTSUR
RWAUZBIDNBFALKA
GNQ
NZLHUNAUSBGRUGASLESWZ
GNQ
BOLBENPRYLKAGIN
COMSWEITA
ARM
COLTWNLUXSURPANIRLIDNNZLSVNDNKHNDUSATHAPAKGHAAUTVEN
OMNPANARGPERCHLGHAITAMARISLBRABGRAUSHNDTCDJORRWA
AGO
JPNGRC
BTN
GBR
SGP
BELCOLMDGPERCHNBELNZLAGOAUTTKMLAONPL
BRB
LKAAUT
NER
DOMTWNPAN
BRB
USAFJIMYSLAOMEXATGPOLLVA
MOZ
KENKORNGA
ETH
AUSHUNMEXGRDFRAPERURYFININDBELVCTGRDBWAKENISLBLZPRTLBNTURPHLFRAPAKARGNLDTWNMDGUGABGDTTOSWELVAGRCSVKHKGCHNCANPANGRCDOMMUSROUNORISLHKGPRYCOLBGRMOZUKRHNDPHLDNKBENRWASLEPERHUNNLDVNMGRDNER
SDN
GRCMDGPAKJPNDMAUZBCHLMDVGNQNORGBRNLDITAPRYGRCDEUESTECU
KOR
MLI
BWAAUTFRACOMTZAMAR
CPVMYSLCADMABENGHAAUSUSAMAR
CRIAGOPAKBENSTPKORNLD
TZA
KAZCHEMEXUGAGRDKAZUZB
THAKHMZMBMRT
PRYCHEBEN
INDMYSNERPERHKGGMBCAN
GAB
COGAUTGBRNZLBWA
MDA
ATGLKATWNPRYJPNCHECOLINDATG
MYS
ITAMDVBGRISLGRCBOLCHEMDATURNAMHKG
HNDKAZTKMTTOAUSPAKBLRLKANZLESTINDVNMLTUNLDGINKORPRTITATHABTN
SWEMLISTP
BDI
PANLBRGBRLBRHRVGTMSLVROUMLIROU
FJI
GRCCANNGA
NPL
LVARWADOM
CPV
ARGCRIINDRWAPERPOLSWEBOLIRNCHL
CRI
POLTCDINDROUDNKBRAKENBIHMEXTUNUSAAZELKACZEBOLPRTGBRBGDESP
SURBGDSWELBR
GEOMWICHNSLVKORUSAESPMDGPRYSDNCRICODTURIND
MYSHUNESPAUS
MDG
PRY
CHE
THA
VNMBEL
MDG
KENHKGTWNMDGIDNVCTNPLCODARGFINCANTUNMWIDOMMUS
LUXFRAIDN
ETH
AUT
LSO
CRIMWICANMYSHUNHKGBOLNERARGAZEAUTIND
COLBELMKDPRTGRCZWEBOLRWAISLMRTGMBESPROUDMALUX
SWE
LAO
EGYBGRPOLLUXTUNIDNIRLROUPANBEN
KNAZAFAUSTHAVENMEXCHEDNKNPLGMBPERMEXSGPJPNECUESPCOLGINPRTLUXALB
BENESPUSABENTCD
SDNTTOLUXCANROUMUSMDAITAMARBTNGTM
TTO
VEN
SYR
INDTWNRWA
MUS
ITA
BTN
ALB
JPNCOMHKGSURHRVITAGINTZAGTMCANMUSESTBRADNKBRBTGOGNBCOMTUNLTULAO
PANARG
SGP
TWN
SDN
SGPCHLBLRNAMBWAISLPRTDEUNPLKHM
KHM
UZBPANDOMINDITAALBNZLISLBFACODLBRGRCBRAGINMYSMEXKORBEN
AUTCMRLBRJPNNORCHESLVKOR
GMB
TTO
ECUTCDBGRMDAKHM
IDN
TURNLDDOMAZE
TGO
SVK
FJI
NGAPANDOM
FIN
GNQ
RUS
GAB
FINESPCPVBOLCHNSWEAUSUGAAUTECUTWNKNAJOR
GIN
TZABGDCRIZWELCAPANLTUHKGKENNORTUN
BTN
PERSTPGRDPOLINDBEN
SLE
SVKCPVCOMGTMHKGPRYGRCKENAUTUZB
PRTTHAIRLKENCOLGHADOMBOLNER
GRCGEOAZEBHSPANPERTWNMYSMLISLVHNDGTMJPNPRTMARMKD
TGO
ZAFTJKBLZKHMESPPRTCOLTWNBRABIHKOR
MOZLUXPHLMNGVCTTTOLCATKMPERCHNMUSGBRHKGSEN
ESPCHEGTM
NGA
BELJPNCAN
BEN
TUNTHALUXRUSBGRTUNBLZAUTMLILAOESTHKGUGASGP
HKGMDVLBN
UKRCHEPRYJAMARGBRBKORMARCZEUSACOMLCABGRCHETZAMLIITAIDNDMA
ECU
TZA
LVABLRGTMBHSLBRTWNTWNESTTZAAUSPANPRTMARLAOPRYPERNLDURYIRLBLRGHAETHETHCOLBLZKGZISLBOLMNGMEXVENNPLUSA
PAN
GRCGRCAUSJAMSWZETHRUSDEUIRQECUIRNPANETHJORUZBMOZTURISLSLEVEN
BHSTUNMYSUGAIDNBTNZWEARGCPVARGZAF
GHAMRTMOZ
URY
TTO
PAN
LKASURPRTCOMFJILCAHRVGRCESPMEXTURROULKA
LTUARGBGRARGNORMLIMNGBFA
CANGNBAUSCHE
NPL
SGPBGRIRNMNGHKGDMAVNMSTPNAMOMNDMAGRCCMRMRTGNQESPLUXNLDLVAECUPHLMEXMARCHN
MRT
RWAMYS
BHS
NLDVNMTWN
BRBMEXSDNNZLMOZIRNVNMMNGPOLECUVENIRLISLINDSGP
POLINDBTNMUSPOLPAKJPNARMCOLGTMHUNESTDMATZAOMNSDNCZEGMBJPNMNGGRCVENBGRHNDCHLTHA
TCD
PERBGRMKD
SURALBEGYTHAGEOMNGITAIRLINDSDNGHATURLKA
SGPVNMPRT
NZLDOMKORTWNROUGABSURIRNHNDJAMUSABRABRB
TTOKENPHLSYRUZBSVNSDNNZL
GAB
SWZTZAAUSGBRSGPIRLTCDTURNLDGMBHRVGHAVENFINSWETWNOMNHKGSLEGABCHNBRBBWAMYSCAF
SLEJPN
PERKENDNKGMBFINECUMEXLAOTHALAOPRYKORAGOETHOMNCPVTWNNPLLBNMNGBFAZWEIRNNPLPANGRC
VNM
THA
COM
GNBHUNNER
ISL
THAPHLAUTGABDNKROUKORESPVNMTGOSLVSGPKNANLDBELGRDSDNSWEMWITZAGRC
MDG
BELMDAMDA
ETH
KHM
BTN
GHA
CAFIRLVNMVNMBFABDI
PHLTUNCHNGRDLAOBWAHUNAUTCHLBELDNKTTOKGZROUCOD
MDA
EGYTWNCHLKORFINBELPRY
CHNCHLCOGJORNORARMFRACRIESPECUUZB
LKAMKDTUNBGRESTCOLINDTHABWAKORGMBTJKMRTMOZCPVHUNIRLPRYARGTTOGBRJPNFINJPN
FJI
IRNBTNTHAATGITAESPSLVBRACHNTWNBGDCPVESPUGABFA
FINJPNBDI
MDV
URYBWANPLZWEKHMPANSWEPOLMNGESPHKGJPNGNQGINHUNPRTSYRFINSLEVENLAO
PANMRTGHA
IRNTWNGEOURYMWI
COGJAMTHAPHLGMB
BFAMNGMOZCODBLZRWAGRDPOLGRCCOGPRTCOM
BWA
GNBIDNESTIDNLAONERESPYEMVCTSURBRATWNTWNBHSKORISLFINTCDKENJOR
SLELKASEN
LKA
TKM
BLZ
SWZ
GBRTTOPOLPHL
BTN
CHNTUNMOZ
BIH
GRCMUSARGPHL
CODTHAPANMLIYEMMDGINDCOGPANJAMGRCMKDHKGFINPRT
LAONPL
UKRTTO
SWZ
VNMITAINDBHSDJI
PER
ZWE
MYSYEMJORRWAGRDMYSCPVCHNGHATURMRTHKGVCTJAMJPNNLDBRANPLIRLGNBCPVTURIDNIRLSLVFINAUTLCA
CHLINDISLTKMIRLIRNTGOGRCCRIBOLKHM
SWZ
UGAJPNTTOCRICHNPRYCHNTHAGNQ
IRN
BLZDOMEGYBGRTWNGRDMRTCHN
CPV
MYSKAZMUS
TGO
COMPRTCMR
PRTLKATGOTHA
MDVETHCHLNORHKGIRNDMA
BOLNORRWAMEXUKRPERBGRBDI
CHN
FJIJPNCHLSTPARGPRTPOLPANROUNLDGHABTNMNGTWNIDNJAMITAARM
TTO
TGO
VNM
COMPRY
JAM
POLROULUXTZABOL
SEN
GINMDVVENCOLJPN
BRB
SURBRAKORKORJPNTURPHLPRT
CPV
ECU
ETHURY
PHLKENNERMARBLRSVKTHANERCHNMOZ
SLE
NZLHKGFINBRBMRTTURAUTNPLDOMEGYCHLOMNIDNGMBLBNJPN
CPV
ESTDJICOMMOZMOZDJI
ZMBTZAESPPANDOMFINTWNITAMOZ
BDIBRAHKGTGOMLIMEX
ETH
SGPBLRGABCOLKORCPVMDG
GRDZMBBOL
CPV
ISLLCALUXPERIRLBOLTWNKHMBFAJPNCMREGY
SYRIRNCHNRUS
AGO
UKR
NERTWNPRTMRTTURSYRIDNBWAPAKFINMKDMNGAGOSVKTUNPANTGOKORDJI
HKGZWEZMBSWZLBNLTULBNSENLTUDMAROULVABGRFRAINDNORZMBTHA
COM
THAPRYALBLUXINDGMBGHASYRSWZLUXJPNIDNKHMPHLETHPANISLBENDOM
NPL
IRLMUSMWIJAM
GAB
COD
MLICRIBRAURYMLI
BLZJPNZAFDOMISLNAMGNQPRYVCTCPVCHNCHL
SGP
STPMDVTWNARGTWN
ARM
ROUCOGHKGCRI
GAB
GRC
TURBFACHNDMABLZCHN
SLE
GIN
GHA
INDBDIITADMACHL
IDN
SWZLUX
GAB
HUNCHNMARCHNMLIDJIISLSYRIRLBLZINDPOL
TGO
DJITURATGARGNZLCHLROUJAMPHL
ETH
ARMMYSJAMSTPGHATKMNORTHAPRYGAB
MUS
LKACODTCD
CPV
JPNCODSDNIRLISL
TTO
PERPOLLKAKAZROUIDN
GAB
BWA
KHMTUR
KNATWNNERSDNCRIJPNRUSCHN
SEN
NAMTHAFINDOMRWABRACOLVNMFJIHNDHND
SGP
POLMWIJPNCHLARM
SGPPOLIRNPANCAFLTUMDVSWZCPV
MNEMEXJORDNKURYAGOKORBRBBGRIRLSLESVN
COG
BTNNERHKGETH
AGO
SGPGEO
CPV
DOMNPLCMRJPNUKRSDNISLMLISGPFJIURYCHNPEREGYDOMEGYIDNKHMMDVMUSPER
GABFRAATGSGP
GEOLCA
GNB
OMNTURTTOCODNPL
BGDEGY
COM
IRQ
LCA
GAB
NZLKORTUNTHALBNHUNPRYGNQMNGZWEJORBLZZWEKHMMDABGRIRNCRIOMNOMNJPNKORSGPKNATGOESPZMB
MYS
BDIURYMWIBWA
SLE
MWISRBGHASLEJORYEM
GEO
AUSETHBWAITABIHTWNOMNECUROUVCTIRLISLZAFNERTHAAGOHUNCHLGRD
BWAESPMARTURATGTUROMNMRT
MAR
CRICPVJORITAFINBGDHKGBDIUKRLUXZMB
LAOIRNSURROUZWETUN
CAF
IRNJORDMAVENLBRKAZDOMMNGKNA
SGP
SUR
CHNMEXTTOMWIIRQZAF
GRCLCATHABFA
BLR
MUSTCDESPJPNTUNPRTVNM
JAM
AZETWNMRTMDVLAOBTNGNQPHLLUXIDNTHAETHMOZISLTKMHUN
CMR
MWIMLIGMBIRNNORMYSROUALBSURHUN
SWZ
KOR
SGP
JORTURTJKOMN
IRLFJICOD
GNB
ZWEVCT
TWNCAFSGPCHNBRAGINCHLLAOFJISGPMNGDMAROUCHLMYSFJIISLKHMSGPBLZKHMCHLTWNMOZMYSBWA
LCACOG
POL
FJI
MNGFJIKORKORJAMISLLBNGRCSYRMLIESPDOMKORKORUGAGRDMDABGRGHAARGBRBBWAVNMBLZCHN
BWAHKGBRB
MRT
PRTMRTMARKNAVCTROUKGZ
LCA
TWNBFAGHALUXPHLHRVRWATHAIDNNORCODUKRSYR
STPMWIKORTJKIRN
OMN
LBRTJKCOG
MARKNA
GEO
BHS
CMRPRYMWIMOZRWABRAPAN
BTN
KNAKORJOR
BTNMARBFAGNBMWIPHLMOZBTNUGAGRCCOD
SURGEOBENEGYBRBURYDMAIRL
SGP
CODTTOGABMWITUR
TGO
BLRMDVURYLKAKORCODLVA
RWA
GRDBRAIRQCPVALBJORLBNATGPANHNDNERCHNETHIRNTCDLAOTWNCMRCHNEGYVCTATGSDNKORBTNPANBWAYEMBTN
YEMBLZBRABLZMLIBTNLUXMARSYRBHS
TTO
IRNKHMCOGLBN
DMA
TZALUXSDNBHS
GNQ
GABAGOSGP
LBRKAZGAB
JORPERDMASDN
ALB
VNMGNBAGOISLSLERWARUSROUTKMSDN
MNG
LBN
LAO
ATG
SWZ
UGA
ESP
MAR
JOR
MDV
VNM
CHN
DOMKORBWATUNECUKAZBWATHALCADOMMUSARMGEOITAURYIRNMNGBRALUXLUXARGGHATCDDOMZMB
OMN
TUR
SLE
LBNHKGBLRMRTRWAGNQMDVIRNCOMRUSAGOALBVNMBRBIRN
KENZWEMARIRQBRAEGYROUMDVUZBKAZTGO
MRT
JORLAOBGRKNABDIKENETHLBNTCDCPV
ATG
KORGNBTTOSYRARG
FJIGAB
EGYSTPZWELCAHKG
SDN
GNBBRBTWNZWEGNBOMN
COD
SGP
ETHGAB
SLE
EGYSLVMNEBLZZMBSGPGRDGAB
MUSBWA
KENCHNIRQCAFZMB
COGGNBLBN
CHN
RWAIRQROULBNGMBYEMEGYCPVBIH
SWZCRIVCTOMNEGYBHSSYRCPV
TTOARG
TCD
BHS
SYR
FJI
BHSSWZISLDJIYEMGRDBHSCODSYRVCTBRAKHM
CMRMNG
DOMTURIRNMNGSLV
GABPERSENGMBATGJORATGARGBWABRBIRQNORAGOGRD
TURSDNCOGGNB
TCD
EGYCODIRN
BGR
BTN
SWZAGOMDVSTPNOR
COG
MYSBWAARGDJIIDNCAF
BWA
GRDGRDSWZBWAEGYSURLUX
GNQ
ZWECPVZWEATGSGPMLIZMBLCATKMMDV
CMRZWE
BDISYR
UZBTJKZWELBNCHLNPLSYRCHNTJKYEM
SYR
AGOMDVMWIVCT
ATG
LBNIRNIRQ
TJK
JORIRQTTOALB
JORKNACPVBDIKHMIRQKOR
GNQ
COGKORIRNZMBATGSWZGNBVEN
GAB
IRQSLVKNAIRQALBMARTUNZMBGNQGRDLCAARGMUSRWALBRAZESYRSTPMNGSYRSUR
BDI
ZMB
KNATHA
GNQ
DJI
BENBWALBRMLICOGLBRTCDSGPAZEUGA
LBNVCT
OMN
GNBIRQJPNMUSAZEBIH
MDV
BIH
YEMGNQTZAGNQ
TCD
AZEJORSYRGNBGNQZWE
IRQ
IRQMDVTCDMNG
BIH
GNQ
LBNLBN
BIH
LBNLBN
MDV
IRQ
GNQ
MRT
SWZ
COG
LCAZWETGOATGGNQZWE
GNQ
LBN
GNQ
SLVLBR
GNQ
SWZ
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-1 -.5 0 .5 1Ln(Output per Capita)
coef = .20318854, (robust) se = .04345469, t = 4.68
Residuals on ResidualsTotal Emissions and GDP Per Capita
RWA
BIH
RWARWABIH
GNQ
GNQ
GNQGNQGNB
GNQ
GNQRWABIHKHM
KHM
GHA
GNQ
GNQ
LBR
ARMLBR
ARMBTN
KHM
KHM
ATGATG
GEO
ATG
LBR
ARM
EST
ESTATG
ATG
CHN
BTNBTN
GEO
CPV
GRDGNBBRBGRD
LBREST
ATG
LVAGRDGNBATGIRL
GEO
MDAMDALVAESTMDACPVGRDKAZGRD
ARM
LBR
LVAMDACPVLBRKAZ
ATGMDA
GEO
SUR
MDA
BGR
IRLKHM
TTO
KAZ
DMABGRKAZMDADMAKNA
IRLKNACHNIRLGEODMADMADMASURGEOKAZMDA
ALB
GEOKAZKNA
ALB
GEOLVARWA
ARM
MDABGR
KNADMAATG
GRDALB
KNAGEOESTALBBGRDMABGRGRDGRDKAZGEO
KNA
KNAMDAPRTBGR
BGRGRD
IRLSURBRB
IRL
ATG
HUN
IRL
UKRBGRHUN
MDA
UKRHUNUKR
GEOLVAIRLUKRBTNLBNSURHRVGRDGEOLBRARMHRVBGRKNAFINHUNESTGRDPRTDMAHUNGRDMDAMDAHUNALB
BTN
CHE
ALBHUNIRL
GEO
ROUGRD
SLE
MDAPRTDMAPRTUKRSURPRTUKRSLEMOZKAZCHEIRL
SLE
BGRESTBRB
CPV
LTUBGRUKRBEL
ALB
LTUCHEDNKLVALTUBELGNQBRBDNKHRVLTUBGRHUNHUNAUT
LVAMOZAUTBELDMALVA
KHM
IRLBELBGRDNKLBNAUTAUTPRTMDAZWEAUTLTUUKRLTUDNKAUTUKRGBRBGRRWAHRVROULBNDNKBGRAUTHUN
KHM
GBRLUXLVAUKRSWEUKRESTSWELTUPRTHUNBGR
GEOAUTIRLBGRLUXLVACHEFINCHEUKRBELPRTAUTROUGBRROULVALBNGBRPRTAUTLTUBGRLUXUKRBGRLTUURYROUTTO
DMAGBRURYROUPRTDMAROUDMALUXBGRLVABGRBGRPRTSWESWEARMAUTBLRUKRAUTBGRBGRBELPRTAUTIRLSURCPVDMAMDAUKRAUTGBRUKR
BIH
DMABELLVABGRITAAUTBLRITADNKAUTIRLBGRLTULUXPRTITABLRDNKGBRITAURYGBRLBNITABELBGRLTUPRTESTDNKARMGBRAUTSLEGBRLBNGEOITADMAGBR
ATG
LTUHRVCHEHUNLUXGBRALBITABLRLVAUKRROUAUTLUXBLRLVALBNLTUBRBMDACHEITAUKRBLRAUTDNKGEOBRBHUNSWEIRL
ROULUXRUSBELAUTSURDMALVABLRBLRIRLBEL
SWEITAROULTULTUGEOGEOLTUPRTKNARUSGRCBLRAUTRUSBGRGBRBELBLRLVAROUURYGBRITASURDMA
DMA
DMAGRDLTUNORNZLTTOGBRGBRGBRNZLDNKNORNORSRBRUSBGRFJIBELBLRLUXATGURYBLRBLRSURFINLBNAUTBELRUSGBRBELITASURESTBELPRTBLRBLRRUSIRLBELGBRNORBRBBRBROUGRCIRLHUN
DMAFINNORBGRBRBRUSBELDNKGINLVAAUTHRVITALTUOMNNORESPFINIRLIRLBRBFINCHEHUNGBRFINSRBGBR
ROU
SWEHUNLUXGBRRUSGRCSUR
DNKSWEGBRROUBLRESPESPHUNESPBEL
GRCCZEESPDMASWEGBRDNK
VCT
ZWEGNQBGRBELSWEHUNGBRSWEHRVDMAROUBLRSWEROUAUTZWEFINSWEROUAUTNORSWECZEHUNBRBFINGBRBRBARMLBNRUSBELFINIRLGNQRUSKAZBELESPRUSHUNFINGNQNZLGBRGRCCZESWEPRTAUTATGDNKNORAUTPOL
BFA
BELITABGRHUNSWEGINITASWEBELNORAUTESTGBRBGRSURLUXBELRUSGRCHUNFINSLEGBRIRLLUXAUTESPAUTHUNGRDROUIRLBRBFINLBNFINHUNFINIRLGRCDMANLD
SUR
FRAGBRGINGRCKHM
NLDIRLGRC
GNB
MOZURYESPBELNLDBGRPRTHUNPRTGBRVCTGBRBRBDNKESTAUTDMAROUROUROUDNKFINFINGRCHUNSWESWZFJIGRCGRC
FINLUXROUHUNDNKHUNGRCPRTGBRCZEFRALUXROUNORITAIRLROUHUNGRCNZLFRADMADMADNK
MDAFINURYNLD
NORCZEBGRSWEGBRDMAHUNROUHRVBELSWEGBRSWEHUNHUNSWEITABELITAFINDMAHUNGRDFINFRAHUN
BRB
ESP
ALB
FRABRBSLVCHEFINDNK
POLFRABELNORLBRURY
FJI
ITAITANLDFINFINHRVFRABELHRVNORBELAUTITABELESPLUXJPNGBRHKGROUNORHRVLUXBELDNKITADMABFABIHVCTBFADNKGINCZESWECHESWESWEDNKBELHRVHUNGINPOLJPNOMN
ROUDNKBIHESPGBRGRCMOZFRAITAROUAUTGRCHRVBRBPOLRUSTTOHKGPOLHRV
BRB
RUSESTBELDEUFRA
BGD
CZEITAROUJPNJPNLUXITAHRVBRBBELAUTVCTHUNITABRBBELJPNPRTITAPOLROUBELLUXDNKLUXPOLAUTHUNPOLROUBGRFINESTGNQNZLURYHUNPRTDNKAUT
SLE
JAM
BRBFINVCTDNKBELLUXGINFINCZEROUHUNCHERUSGBRLUXDNKFINPOLAUTDMAVCT
ITAJPNIRLVCTALBDEUFINPOLFINITABIHZWEARMSWEPOL
JAM
SWEVCT
ESTVCT
DNK
DMAESTURYBRBITABELBRBBGRBGRPRTBELGRCFRAHUNPOLITAESPSWEBRB
SWEJPNPRTBGRCHEJPNIRLDMAIRLPOLAUTITABGRNLDURYDNKSWEURYURYTTOBRBSVKPRTPOLSWESWEBRBFRAESTURYITAITAVCTDEUJPNDEUCZEBIHNORCZESURDEURUSBDINLDDEUNLDLUXPOLRUSNORGRCBIHITAROUFRABRBISLGBRROUZWEPRTPRTJPNFRARUSCZEPRTVCTROUJPNSWETTODNKAUTTTOITABLR
ITACHEURY
LUXPOLFRAITAROUCHEITANORPRTITATTODEUPRTDEUITABRBITASWEDNKDNKBRBITAFIN
JPNFIN
LBNPRTESPNORAUTNORLUXFRAPRTNORBFA
FRANORVCTCHETTOGRCZWEFRADMA
ESTNZLAUTBELSVK
ATG
POLDEUITA
VCT
SVKLUXFRAGRDJPNDEUVCTBELSLEGBRNLDGRCGRDDNKJPNNZLFINGRCNLDSVKDNKBIHITALUXFRASVKAUTLUXITAGRCNORPOLDNKNORPOLSWE
URY
BIHDEUJPNVCTSWEURYTZAGINNORSWE
BRB
FRAJPNSVKNORFINNORCZEJPNSRBNORDNKCHEHKGBFAFRANORJPNAUTJPNJPNVCTFINDEUITAJAMSVKBELGINDEUSWESRB
BRBNORSVNITAESPJPNSWEDNKSVNJPNNORURYSVNVCTVCTFRAKAZBDIITANZLURYNZLURYDNKPRTITAFRAFJIDNKVCTKNACHEESPGRC
MNE
SVKESPNORURYATGJPNPOL
GNB
POLPOLROUNORARMFRALCASWEBELNZLGBRURYNLDDNKNORESPGBRURYNORNORJPNPOLDEUGRDZWEJPNIRLARMSVNPOLVCTVCTARMSLVURYHKGDMAJAMFRANZLVCTSVKBELNLDJPNSVKJPNPOLBELESPJPNJPNCHE
GNB
GNBFJI
LCAFJI
SVKURYVCTESPBFAFRAESPNZLCHEFINPOLSVNITA
ATG
URYFINBELTTOGRDLBRARM
NLDJPNURYFRASVNSWE
DMA
LUX
HKGMUSVCTESPGRCDNKGRCBRB
ESPSWEBRBVCTESPPOLGBRFRALUXHRV
LBNIRLDNKMKDGBRGNBAUTSVNBRB
ISL
DMANORNORGBRBRBVCTFRABELJPNBRBFRACZEPOLPOLGRCDMABRBSWE
BRB
CHESVKPOLESPBELDEUESPBRBARMFINGNBUSAFINPOLARMFINKGZBRB
URYSVNSWEUSAALBFRAFINFRASVKGRDFJI
SVKPRTGRCVCTESPBFAGBRVCTHKGARMJPNMUSCHEJPNSVNTTOGRCJAMSVNSWESWEFRA
MNE
NLDBRBESPGBROMNBRBGRCMUSBIHVCTPOLUSAAUTAUTSVNPRTMKDFINGBRFRANLDROULUXKGZJPNNOR
URY
NZLESPPOLESPNLDJPNJAMFRACANOMN
CPV
FRACPVSVKLUXURYDNKUSATTOUSA
BDICHEVCTFINCHE
BRB
GRDJPNNLDBRB
BFA
PRTJPNUSAVCTGBR
MUSATG
BRBISLBRBKORUSASVNPOLURYSVNGRDSVKESPCHE
KHM
FRAMKDJPNLCAMNE
LBN
USAURYUSASWEBRBMKD
TTO
ISLSVKUSAFJIJAM
MNEGRCBELDNKCHEARMGRDESPDNKJPNTTOESPBRBPRTTTODNKPOLMKDTTOUSAESPNLD
MOZ
FINNLDCANBTNJAM
SVNNLDGRCGRCGRDSLVFRAFRAESPROUMKDJPNGRC
LKAURYJPNUSAJPNSWEPOLSVKGRCMUSIRLBRBMKDURYNOR
KGZ
BGDFRAFRADNKPOLSVNFJI
USAFRACHEVCTGRCUSAPRTMKDJPNPOLPOLNORSVNFINSWEBFANLDGRDPOLLUXLBNGBRLCAROUTTO
BDIISLNLDNZLESPPRT
URY
DNKDNKDNKPRTDNKGINCHEAUTDNKPRTBRBMKDFRAGABNORSLVFINDNKFINCANSVNNLDTTONLDAUTTTOTWNNORUSANZLTTOISLTWNGRCESPUSAMKDPRTROUCHEJPNDNKAUTGRCMUSPRTBELROUDNK
VCT
URYPRTVCTMWIPRTMKDESPURYGRCROUISLNLDLKAVCTSWESLVMKDLAO
URY
CZEGRCGRCGRDVCTLUXSVNROUNLDJPNFRAATGTWNUSAJAMUSAJAMCHESLVNLDCHEDEUURYSLVCANISLPRTAUT
CPVCPVPRTIRLITAMUS
CHELUXSURTTOMKDESPALBPRTFINPRTFINJPNGRDISLAUTJAMJAMJAM
FINTWNFINUSATWNROUUSAESPFINCHN
GBRFRATTOFJIGRD
TTOALBCHEESP
FJINLDMKDKOR
MKDLKADNKMUSTTOMKDMKDALBMKD
JAMTWNROUGRCGRDFINGRCGBRAUTKGZPRTTTOPRTFRAJAMGRCLUXPRTCANKORNLDTTOISLTWN
GAB
KGZSWEESPALBHKGISLTTOGRCNLDDMAJAMUSAFINNLDJPNNOR
GRCURY
MRTFINKOR
ATGBELESPDEUGRCPRTAUTUSAGRDURYESPNZLROUVCTESPBFA
ISLCHE
KGZNLDURYLAOFRA
JAM
TTO
DNKNORNLDMWIVCTALBLCAESPTTONLDLAOCANBFAESPJPNFINKORGINHKGNLDISLAUSGBRNLDIRLAUTESPGRCISLNORKORZWE
FINAUSNORGRCKORKORUSAFINGRCNLDISLKORUSADNKGBRJPNKORITAKAZNLDNORHKGDNKISLLKA
FINALBGBRFRAURY
TTO
BTN
USALUXKORDNKTWNBELNLDSWEHKGSLVNORUSABELJAM
FINSLVSWEKORTTO
KORCZEESPKORBELUSACHELUXAUSCANTHAMUSCANNLDNLDCANITAIRLVCTGBRBELNORKORJAMSWESWEAUSCHNETH
USABDIURYSLVALBMNGURYTWNKORITANORNORISLCHEFRAURYSGPCHN
GRCTTOISLPRTCHEKORNLDNLDCHEKOR
BDICZEBELAUT
MRT
URYSLVISLJAMTTONLDKNANLDSLVGBRCHNBELGRCNLDESPNORJPNCANTWNURYISLGRCNLDTWNFRAHKGARGAUTROUCHNLUXCHEMWINLDALBGBRJPN
VCTCANBELIRLJPNCHNCHENORISLURYHRVHKGNLDGNQNLDSLV
NZLLBNCAN
LKABELCHNURYMRT
TTO
THANLDTWNLCACHNGBR
GAB
CANNLDLCACZEJAMLUXLCA
NLD
SLV
SURALBAUSTWN
SLECZENLDTTONLDSGPFRAGNQKORDMALCAZWEGRDURYFRAALBNLDMUSTTOFRASLV
FRASLVSWZNZLETHCHEFJIKORBLZMUSAUSTWN
KGZATG
CPVNLDAUTTTO
CHEGRCDEUCHNIRLKORTWNMUSURYCHEMNGLCANLDMNGHKG
FJIARGAUTURYCHN
GAB
IRLCHEITABHSISLCANLKAISLSWZNLDSLV
NZLURYKORNPLLCAZWEUSAAUTFRAFJIOMNUSA
GNQ
SWEAUS
TTO
HKG
GAB
ITALKAGBRITAJAMNORCAN
LKA
GNQ
AUTDEUCHEMRTSLVSLV
MUS
FRAPRTAZEKORTWNCHNTWNJPNCHE
JAMKOR
GNQ
JAMITAAZECHNFRAIRLITAMRTMNGCHL
AZEJPNTWNJAMURYTWNSGPBLZJAMTHAITASLVHRVBLZBDICHENZLARGURYJAMCHNTHATHA
JAM
FRA
CPV
KORARGFRAJPNBDIURYJAMCHNCHECHETHACHNLKACHENPLCHNHKGLKAJPNLUXTWNKAZMUSISLMUSCHNGRCAZESLVCHLCHNCANCANMNGISLPRTCHEJPNBIHGRCSGPSLEARGIRLJAMLKANZLPRT
GAB
CHE
THAHKGHKGMOZGAB
GAB
SLVJAMSWEGRDSLEJPNTHABGDMLIMRTISLAUSJAM
MUSSLEFJINOR
SLEATGCHESLEKORFJITWNUSASLELUXCHECANCANJAMCHNSLVCANGRD
KHM
MUSSWEARG
ETHTWNAUSLBRTWNURYCHNJAMARGBDICANURYUSALKAMUSMLI
MUSIRL
MNG
LBNARGMNGKORCANLKATWNARGBLZPRTKORLKALUXNZLSWELKALKASWELKAAUSCHLJAMZAFJAMARGROUFJINGAPRTCANIDN
KGZ
NPLAUSHKGARGCANLUXMUSCHLURYTTOCHLTTOARGESPGNBCHLARGGRCISLKORMRTUSAISL
MUS
KAZTWNMUSCHNCPVCMR
GAB
CHLLAO
LBN
NGA
JAMNZLMUSBDIMUSJAM
LBN
CANTTOCHNGINGNB
AZECANSLECHLARGUSASUR
SLE
ARGARGCHLISLAUSJAMTUNMNGVNMJAM
TTONGAIRLTWNARGZAFJAM
KNA
THATWNNLDSGPKGZCANJAMLCAARG
RWA
ARGKORUSAJAMGRCTHACHNMRTMNGTHAHKGUZBISLSTPTUN
MOZ
USAMUSUSAAZELUXAUSPRTLKALKACHNJAM
ARGCANBRACMRJPNJAM
MUSLUXMUSKORARGMUSJAMARGSLVUSACHN
MUS
TUNAUSHKG
MUS
ARGARGISL
NGA
KORARGLCAHKGLCAHKGARGFJIKOR
TJKTHAHKGCANJAMUSAUZBUSACHNFJITTOJAMARGCANARGAZEUSAKORNPLLCAGRD
SLE
CHLARGUZBCANTUNISLTUN
LAO
CMRARGFJIIRLNZLARGARGHKGARGISLCHLTUNCHE
GRD
USATWNNPLIRLLKA
FJI
ARGGNBAUSBRACMR
BRALBNTUNMNGTHAARGCHNARGATGJAMARGARGSGPIRLTCDMUSNORCHNLCAMWITJKUSASGPCHECANCHLBDICHLISLKORARGMLIARGCANSLVBLZTUNSURSURKORMARMUSISLCHLTUNAUSLUXARGLKATJKCPVIRLSURLKAISLUSASLVMARESP
NGAUSAGRCUSASURISLIRL
LCA
STP
NORETHGINTTOBLZZAF
NPL
ARGUZBGNQTHASURUSAAUSHKGCHLCHLGRCTHA
HKG
GIN
BRACANCHLCMRUSA
BDIISLCPVIRLMLIBLZAUSVNMTJKISLLKAARGGINTUNMUS
ETH
CAF
NZL
SGP
VNM
ISLAUSCANVNMTCDCAN
LSO
CHECHNMLINZLCHNCAN
MRT
MRTMARNGA
SURISLSWZARGARGAUS
LCA
GINMNGNZLMARUSALKA
ETH
KAZMUSCANNZL
IDNIDNLKAAUSUSAGHAAUSNGALCAUSACAN
TCD
CHNCHNMUSCHNMUSLCACHLTTOKGZ
TJK
CHNMARAUSCANLCA
ETH
MARLKAJPNLCA
LSO
USA
SLE
USATJKCHLARGFJITJKNGATKM
SGP
CANCPVNZLGNBGNB
ETH
UZBCMRSWZARGETHMUSCANMARTJKESP
GIN
SUR
BHS
ARGUSAMNGLCAAUSETHLKAOMNIDNAZEINDATGLBNZAFAUSARGAUSLCAAUSNGANZLTUNLBRBRAUSAAUSINDNPLVNMPERCHNINDTWNSLENPLTUNBHSETHCANARGIDNBGDKORMARCANCAFCAFNZL
VNM
LCATKMUSAGIN
ETH
MARAUSCHNUSACAFUSAARGCHLLKAFJI
ISLMLI
BGDCMRCHNCANGININDCHNCHLNGASURNORTKMVNMOMNCANAZEIDN
LSO
MARATG
ETH
CANTHACHLIDNGINVNMKAZETHIRNVNMSGPZWECPVGRDUZBGINSLVCHLSURTKMSURINDKGZKHMINDPER
VNMVNMSTPCPV
IDN
THAVNMUZBMARNZLMUSPERCPVBRATUN
SLE
NZLKNACHLNZLKAZSLVUSAAUSSURISLNZL
MUS
LCA
LKAMLIETH
NORZAFCHNLCAINDMOZKNAAZETKMTHA
MUS
LUXMARKNATCDIDNCHLTWNARGINDTWN
GHAMARCANTTO
SLE
ETHVNMVNM
TTO
CHLBHS
AUSAUSTUNLKATJK
CAFMNGIDNVNMMDVCHLCHLIDNTUNNGAAUSBGDLKAISLBWAUSAUZBCPVTUNVNMISLIRLLCALKABWATKMSLVCHL
JAM
TKM
KGZBRALKAMEXNZLSURLKAINDCHLLCATKMCHLSLVCHLTHABDIPERETHFJIIDNAUS
NGA
VNMCHLCANCHLLCAMLISTPIRNPERISLMLINGAALBSURAUSSURVNMIDNTJKTKMSURCAFCAFTCDTHAGAB
CHLBHSAUSBHSTJKBHSSGP
NGAKHMCMRVNMCHECODATGNZLTHACHLVNM
BGDMLI
PERMLIGTMGIN
PAN
MUS
TWNALBHKGESPMLIKNACODTHAMLIIDNATGAUSNGAMARTHAZAFTURGINMUSBWAJAMKAZBHSTHAETHBHSESP
CAF
TKMCHLNZLAUSSGP
MLIIDNTHASGP
BRAARGMEXKHM
NGAIDNARGTURCHLMDGTURIRNLCA
SGP
MDGATGISL
NPLBHSIDNGHABWABLZAZEKHMUZBLKANGANZLCODINDMLIMEXLCAKHM
NGA
TUNNGAATGETHTJKGINIRNGINIRNLCANGAMLIFJIUZBBRACODDJI
NGA
SURLKANGAHKG
MDGISLCOD
AZEAUS
JAM
AZETUR
FJI
LKA
KNANORIRNTHAISLBOLTHALKAARGSLEMEXMEXCAFFJI
KHMETHFRAETHCHLBRAMEX
NGA
TUNKGZ
GHA
CHNCPVINDPERCODISLKORLBNNGANGABGD
EGYMEXMLIBFANZLMUSMEXBDITUNUZBBHSTWN
JAMTWNMEXMLISWZKNAGTMCHNSLVKNABDICODMEXVNMTURCHLBHS
NPL
SURMEXFJI
NGA
CANLCALUXZWELUX
BRAIDNNGAMARLKAMNGNZLIND
BDISGPEGY
KNA
NGA
BRAIDNSTPIDNNGAKNA
MLIMEXGTMALBNER
KGZAUSSURKAZLUXIRNAUS
MDV
NGA
IDNTUNIDNARGLUXTUNSLEARG
ALB
LCAIDNMEXMDG
LAO
NGALKAZAFIDNCHLNZLTURCODAUSMEXCHLCAFBRACHLLCAARG
MDG
ARGNZLIDNBOLGINLCANGAZAFIRLNZLNERNGAAUSFJIBFA
STP
ZWETKMLAO
BHS
MLINZLMDGTJK
NGA
MOZ
TJK
NER
NGAIDNGTM
NGA
IRLIDNLBNETHBOL
SGPKHMCODTWNBRAMLIBRATURINDPERAGOIDNBDIBENTHA
FJI
BHSESPLUXNZLCHNTURNGANZLTKMEGYTWNISL
MOZ
GNBBHSKNA
ETHETH
HKGAUS
MOZ
TCDKGZCMRMOZ
IDNKHMBOLSGPMLILUXBRAMLIIRLMDVBRALCATHAUZBSLVTURFJI
NER
STP
ETH
TCDBOLBRA
TJK
ZAFKNASWZTHAMEXNERLCAIDNIDNCHLBRAJAMAUSIDNPANBHS
TURNERSLE
TCD
AZEBRACHLIRNZAF
COD
GNBBHSBHSNZLTUR
TUN
BHS
TURTUR
EGY
TURMOZCHEMLIPERTURMDGLUXMNGTUNTURTURJORTCDBGDBOLMAR
BHS
NERTCDNGAHKG
NERISLSURBHSBOLBHS
CODBHSKNAPANPERMLINERCODTURCANZAFKNADOMTUNIRNBDITUNBWABWA
CAFAUS
BTN
BOLHKGSURDOMSURBWAIRLTKMECUBLZ
CHLCMRNGAZAFKORBFATCD
KGZSTPMLIZAF
SLE
VNM
CHN
BOLCHLGINVNMDOMKNA
ETH
AGO
FJIIDNNGA
MEXIDN
TTO
SGPNZLCOL
JAM
KNANZLPANTWNKNAMUSINDLBNPERPERBHS
BHS
IRNCOLVNMGTMINDCOLAUSIRQTURBWA
MLI
BLZVNMMDGMUSMEXCOLKORTUNGNBFJILBN
LKA
KNA
IRQ
MLISLV
ALB
ISLCOLLBN
INDMDVMOZ
TCD
MARBHSTUNMARFJIDOMGNBFJIINDLUXTURCOLALBISLDOMEGYTWNMEXMDVESPBOL
BOL
SLEMEXHKGBOLGNBTCDATGSLE
ECUBRABOLLCA
SGP
SGPDOM
ECU
GIN
CPV
INDTUR
BEN
TURKGZTJKCOLMARPERAUSECULAOCOLMEXKORFJI
BFA
TJK
TURTURIRNCOLARGKORCHNCHL
UZBTWN
TKMTUNCOL
TCD
EGYLKACOLCOLNGAMEXMOZ
JORBRASLEISLBRABOLCOGCHLKHMCANIDNGABNGA
BEN
DOMGINTCDTGONZLFJIMARPAN
BHS
TGOTJKSTPIND
CAF
TURESPCOLTUN
TGO
PANINDDOMALBSURNPL
TURMOZBRATHAIRQTURZAFBOLEGYTURBHSIND
ECU
DOMPANZWESLEBHSBOLSLEBOLISLPERROUFJIINDLAOTTOCRIDOM
MLIGNB
LAOCOLIDNAZENZLPANIDNINDMDGECUNZLTUNNGABDIDOMMDVIDN
BEN
KORMEXNZLLBNCOGBRABENBHSBHSECUCAF
PANBIHBOL
DOM
TCD
SWZCOLBFAMEX
PER
BGD
BHS
SLE
COLBDIIRNMARLAOTURSGPCRIBRACHL
NGA
INDCOLTUNMEXBRAPEREGYDOM
CAFSTPBHSINDMNGFJIVNMDOMMOZFJITUR
NGA
COMIRQMOZBOLSLECHLINDIRNJORGNBBFAFJIGTMSURCOLIRLDOMDOMEGYDOMCAF
TGO
BRAINDVNMSTPSTPAZEEGYCHNOMN
NGADOMBOLSLVTURCOL
MEXKORZAFLAOCPVAUSZAFBOLDJIEGYBGDALBESPBWAEGYTURPERDOMEGYSLVCOMVNM
VNM
IDNKHMGINAZESTPTURCRIATG
COG
TUR
MOZ
NZLEGYGNBLAOSGPMEXMDVISLINDIRNNGAGNBTURPERDOMMEX
NGA
KORECU
BWAINDBOLLAOVNMLKA
BENVNMEGYVENBENBENALBUZBSTPALBTURLAOIRQMEXTURMARMLIBOLCRIZAFCOD
TUN
DOMINDAGO
BHS
SWZALBEGYPERLKANZLECUCHLBDINERSTP
STP
AUSPERDOMSTPCOLTURECU
BHS
THAEGYAUSINDBOLTURMARAUS
NPL
DJIGHA
GAB
SWZLBNINDVNMBRATURCAFMARSTPTUREGYIDNCOGDOMDOMEGYBOLINDKGZMDGCOLPERIRNINDCOGCPVCHLINDLKASWZ
PERCOGDOMTGO
TGO
EGYEGYMOZSENLAOSTPBLZTWNIND
STP
RWATURBOL
NPL
INDMARIRLDOMVNMCOLTUNNGATURGINNGACAFCOLCANALBPAN
SLEMOZEGY
MNG
KOR
TCD
VNMISLBWAMWIZAFNGACHL
TCD
COGAUSBHSCOLZAFCOLNGAJAMTURAUSCOLPANMNGGINSENZAFMYSCOLBOLPANCAFVNMDOM
SLE
BENTTOSTPBOLINDCRIEGYSTP
JAM
SGPBHS
MAR
GNBCAFBRATUNNPLINDTUNEGYAGOIDNCHN
GINTGOAUSCPVTUNESPVENISLINDINDEGYCOMTUREGYMYSPRYZAFVENPERTCDIRLTGOAZEBOLBEN
NGASTPINDCOL
VNM
NPLCPVEGYSGPCPVCRIMDVLAO
EGYPANSENCRIINDTURTURCAFESPZAFBOLBOLMLIEGYNPLNGAMOZ
TGO
BOLEGYDOMIRQTURINDKORINDCOMMYSEGYMDV
BDIMNGHKG
MAREGYINDCHLNPLGTMPAN
AUSECUCOLCOLBFANZL
NGA
CAFTCD
LKA
NPL
BFA
ISL
NGAMUSIRQPHLCOLMOZ
LKA
PAN
ALB
HKG
BEN
IRQ
PANIND
ALBIDNPRYBENBOLEGYZAFPERMYSMEXPANCAN
PANEGYGTMPERMEXLKA
DOM
BRAEGYGTM
FJI
EGYBFAINDSLVSTP
NPLCOMKHMCOLEGYINDZWEMYSLBR
SDN
BHSTUNGTMALB
BGD
NGA
IND
TCDEGY
SDN
INDTHA
SGP
COLCOLPERVNMLBNGTMZWEINDCRILKABDIPRYCHL
DOMCHLMDVECUATGGTMHKGBFACRIMYSMARCOL
BOLPRYSWZPANCOLMYS
SENIDNTGO
GTM
BOLZAFEGYNPLNGAEGYMNGBOL
LAO
BFA
BTN
INDZAFPHLBENPRYCOM
FJI
CPVNPL
NPL
INDPRY
BHS
LAOMDVJORLBNPANMYSCRIGHAIRNBOLBRAIRNMYSMARCAF
BFA
VENPRYTGO
EGYMWIMWIMNGINDMYSALBDOMNZLLAOGIN
IRQZAFCAF
NPLCOLBRAMYSCHLEGYMYSPRYTCDSTPSTP
NPL
COM
MYS
SDN
MUSPHLGTM
MAR
BOLSGPNER
ECU
GINCAFETHVNMPAN
BRA
TTO
PANBOLUZBEGYSTPBFAPHLBTNZAFGABTUNSLVPERBOL
PRY
MARPRYBGDRWABRA
LKA
NPLCHNTZAEGYTGOECUCHLEGYCOMNAMMARDOMMYS
BFA
ECURWAIDNIRN
VEN
MAREGYTUNIND
LKA
NPL
BGDECUNAMMYSECUNGAAUSZAFBGDSTPIRLCOLEGY
PANBRAEGYBENSGPCAFBRA
MAR
PRYGINAGOPRYCOGZAFNGAVENINDVENLBRBRABTNTGONPLSTPEGYDJIBRAMAR
GAB
CODBOLCOLLUXEGYBGDIDN
ZAFMYSPAKGTMEGYCPVPAKTUNKHM
CAFBOLTUNPERPERSGPCHNDOMTWNIRNBOLMOZKORMEXPAKPAN
SGP
PHL
BTN
TGO
HKGCOLPAKCANNAMTHA
BEN
BOLCAFIRNMYSAUSGTMPANMARMARPRYCRIIDNSLVEGYPRYZAFSTPTUR
TUNCPVSLEPRYMDVSEN
ECUEGYCAFECUBRAGINTWN
MDG
SWZ
PAKLAOSYRBGDBOL
EGYLKAMDG
VEN
KORTKM
BDIVNMGTMVENPRYGINGTMTCDMDV
BENCRITUNPAKGABEGYNZLEGY
MUS
INDTUNHKGZWEBGD
SGPZAFGNBBGDAGO
TGOATG
MDG
SENIDNMYSBTNSTP
GTM
PRYPAKSEN
GAB
ETHIRNAUS
UGA
MARZAFMYS
ZMBEGYDJI
ECUZAFCOMZAFTUN
GNB
BTNNAMBOLVENNAMCOGPANZAFMNG
NPLECUMARBWA
KORLAOMARPAKIDNLBNSTPMDVHKGEGY
BDI
STPSTPMYS
FJICAFZAFPER
IRQ
LBNPRYGNBMAROMNPAN
CAF
ZAF
UZBZAFPERPERMARTCD
FJIPRY
MDG
DOMNPLGNQ
NAM
MARGRD
AGO
ECU
ECUPRYPRYHKGPRYTGOMWIGNBPANGNB
BHS
GABVENDOMPRYCAFZAFPERRWAJORPRYSYRVENCOMSLVTGONAMPANGTMECUPHLIRLTGOGTMDJIRWAPERTHABENPANNPL
PANZAFMNGZMBEGYPANCOGPERPANINDPERGINDJIGTMCHNPRY
GHAPERALBUZB
MYSCAFIRLECUMYSIDNTGOECUVENLKABEN
BDIMOZIDNBOLPANINDBDIZAFNAMBTNCOMLBN
SGPVEN
NPLPERSYREGYMARGHA
PAN
ALBZAFMARPRY
MARPRY
CMR
BOL
LAOZAFMOZCOM
VENMYSLKAMARCANGTMRWASTPSLVPERMNG
SEN
BOLDOMCOMVENZAFPANMNG
PAN
PAN
PANNPL
GAB
PRY
ECU
COGPAN
NAMUGAMWI
SWZNPLMWIMYSSLVBGDBGDBGDGNBTUNLBN
SDN
CPV
LAO
ZMBCOMCRINZLPAKMOZMUS
ECU
TURCAFCAFKHMCOMDJISENECULBNPANDOMPERPHLZAFECUZAFBENGNB
GAB
HKGJORCAFMDGZAFGNBHNDCOMPHLZAFZAFDJIHKGECUMARBGDIRNJORMARVENECUCAFECUUGALAO
NPL
NER
GHAMNGZWEZAFPRYGNBDJIHNDMARLBRPRYGHADJIUGACHN
SWZ
UGA
MARBDI
BFABOLMYS
PAN
MDGGINIRN
BIH
THAKENGTMZAF
HNDPANBFABOLCAFCRICPVBFACRIECUPERPHL
SWZ
DOMJORPANCOD
TURPHLCHE
MWI
BEN
ZAFGINHNDCOMSDNECU
PRY
PRY
BGDUGAGNBCODGNBBLZ
MNG
COD
PHLPHLZMB
GAB
MDG
ECUVENMARBENSWZPERVENTUNVENCRINPLCANVENMYS
ZMBIRLKORCMRIRN
BOL
MYSTKMSLVGHAGHAMRTPERVNM
VEN
BGDBGDMEXGHABDIDJIMDGPANAGOLKACPV
BENIRN
LUXBENMYSCOLGTM
NER
UGAMRT
KHMPRYPRYPER
MRT
DJIECUPHLUGA
TGO
ZAFZAFMARHND
DJI
BENZAFBOLMNGPHL
PRY
PHL
NPL
LAOBOLVENBENLAOMARMYSHNDBGD
MYS
BGDAGONERMLISGPTTOPANPANMUSGHACRI
MDG
MDVGNBHNDCOMPRYBOLKENMUSCOLCRIGNBUGAVENTGO
ZWECMRLKAGTM
ECURWA
HNDTURMARCRICODSWZ
SGPBOL
SGPATGZMBAGONPLGTMCOLCAFIRNMARGNB
CODBENCOLCRI
MRT
TCDGRDHND
MRT
BGDZAFGHAVENHNDBLZMNGMARMYSALBCRI
GAB
VEN
NPL
HNDCAFPERPANCOMPAKMDGBGDMYSAGO
SEN
TUNGNBTZABTNMARGABGAB
TGOCRIPRYCRICAFHNDGTMVENBGDSDNBLZMNGDOMMOZPHLBGDPRYPRYPERBRAHNDHNDVENCOGPRYCRIGABCHNZMBTGOPRYLBNMYSPERCRILAOCRIPHLLBRSTPSLVBRAGHAETHTURMOZ
BWAPRYBGDSLVUGATGOCAFIRNCOMCHEPHLCODPHLMDVBLZPHLPERPHLPERMWI
SDN
ATGECUCOMGNB
KORLAO
COD
GABTHA
UGA
ETHGNB
BEN
HNDGHABLZPHLSWZGHAPANKENMWITUNLBRSDNHNDZAFGHA
TUNJORIRNMDGBLZCRICRIKENCODTHAPHLTURKENDJISDNPRYBRAUGA
MDV
MRTCMRMUSGINBFAVENMYSCRILAOPERPAN
IRQMRTRWACHN
MDG
SYRCOD
GHAECUBGDCOGPHLPRYBWAUGA
MRT
IRNGHAUGAKEN
SWZ
SLESLVTTOPERMDGCRIUGA
GAB
MYSUGAPERHKGHNDMNGPAN
IRQCAF
HKG
KENPERMWIGABPANGTMGABPHLMDGGHAHNDNPLCRIPERPAN
RWA
PERIRNIRNNERCODMNGPRY
DOM
SEN
PERBLZ
SEN
MEXNAM
CODOMNBGDCODGTM
BFA
PHLGHAGNBCPVCODMDGMOZBOLLAO
LBRCODTWNMOZ
ETH
BRASDNUGABLZBTNPERBRA
GABCOG
ZMBSGPNERSENCODPERNERSLVPAN
MDG
PERMRTCRITZAECUSLVPANECUTUR
TKM
LBR
STP
CHN
CMRRWALUXAGOTGOUGAGHALBR
CPVPHLPERUGACOGSENECUBTN
TTO
MDVTHANERGNQ
BENPHLMRTSWZGABTHAGHAJORCRITGO
BTN
TTOGNB
ETH
THAMRTPRYMRTBENJORNERPHLPRYSLEPHLIRNKENPAK
MDV
TURBRAMEXMRTBRAPHLHNDMEXCAFSWZBRAPAN
IRNBRAMUS
BDI
PRY
CMR
MDG
CMRCMRBRAZMBMEXLBRPRYHNDBRAPHLPANPHL
COD
ECUGMB
BFA
CMRCOGCMRECUTGOIRNAUS
KEN
LKA
GHA
MDVGTMPHLPRY
COGCOLGMBUGACODPAKTHAMYSPAKSYRECU
TTOCMRSLVTGOBGDLBRMEXCMRMRT
LBRSLVMYSCPVUGAGTMCODPHLGAB
SWZ
GABBLZPHLECUSWZOMN
DOM
BRAPRYKHMMNGCRICANUGA
COG
BRANERPRYSENBOLPRYBRAPHLBRAMNGPAN
SEN
LUXPRYCAFPRYECUMRTLUXNERKOR
BRAECUCMRPHLCODPHLCOG
PHLDOMIRNCMRPHLETHPRYLKAGHA
CMR
COM
PHLGTMSYRPHLPAN
KORVENETHBTNCMRCMRGTM
SYR
CMR
MNGPHLHNDCOLMNGGTMUGANERECUGINPRYBDIGINBLZCOM
MUS
TTOETHPHLCOGHKGZAFMEXSDNPHLBRAIRN
BOL
THA
MYSBLZTZAMEXCOGCAF
COD
ECUUGACHNCMR
CMRGHATUR
LAO
MNG
CMR
NPL
COG
BOLPANMRTCMRCPVECU
BFABGDBRAHNDPHLHNDBRACRIMDGTURCODSLVRWABLZMYSSGPCOMECUCMRPHL
GAB
CAF
TGOSLEGABSLEBLZNERGMBLBRGHACPVZMBPHLUZB
NPL
MEX
COGCPV
CMRMDV
HNDMDVMEXMEXLBRNPL
IRQ
DOM
KORLBRCOG
BLZCMRBENAGOCMRHNDPAKKENECUECU
BWALKAIRNDOMTGOPHL
SYRMNGJORIRNSYR
CMR
MWICPVMYSHNDZMBIRNCMRBRA
COG
CPV
ECU
COG
ECU
NPLTGOPHL
LKAIRNPAK
TTOTHATHA
COM
THACAFATGMEXBFAMRTLBR
CPV
HNDMEXMRTDJISGPNPLNPLCOLLAODOMPHL
CODLBRMEXMEXUGADOMCOD
BLZ
GAB
ETHZWEGTMKENSEN
SEN
TGO
GAB
FJICMRLBRZMB
UGA
PRY
COG
PHLCOGZMBCODCOGMYSMYSCRINAMSLV
SDN
LBRCOGTHAHND
CMRMNGPHLBDITHACODJORMEXMNGGHAZMBECUCRISENTHAGHALAOMRTPHLUGA
IRNHNDNER
SLE
AGOCOMCPVMRTSLVMWIZMBNPLECUIRNMYSMWIPHL
MDG
HNDSDNCRIRWACOLGABGHAGHA
PHLCOGGHAIRNCOLTHACRI
CMR
GRDTHA
THA
HND
SYR
TWNETHMYS
THACMRNERSTPMRTGTMPRYLAOMRTBTNGABPHLCRISDNUGA
COG
CRIMWIKHMSYRZWEMEXGMBHNDATGMOZKENNERKENZAF
SENDOM
ZMB
LAOBGDGHAGMBCOGDOMHNDBLZHNDCOLPAKZMBMDVUGAMEX
UGATCD
JORZMBPHLMEXPAKSYRUGAHNDGAB
SLV
SENHND
IRQLAOSWZMDVMEXTZA
GHA
HKGCRINERCPVGHAGTMBDIHNDBLZHNDZWEHNDHNDSENMEXHNDAGOTHASDNSDNUGACOLSWZBDI
MDV
MOZSYRTCDBDITHALAOGTMSYRPHL
SWZ
HKGGHAMOZ
VENMYS
MEXCOLNPLRWAMEXCOMGABMARMYS
CMR
MEXGHAMYSRWACOL
CMR
GHANER
MUS
ZMB
BIH
COGCMR
NPLCOGUGANPLKENBLZCOMGMBDJIETHGHAGMBTHASYRSENTZAHND
BLZ
MYS
SLVUGAMYSTZAATGCAFGTMPAKSDNGTM
DOM
PAKKENGTMKENBWAGHAGAB
BLZ
RWANERMWI
COG
TCD
SYR
GTMCRISENCOMSYRSYRGHAAGOTZAMEXHNDKENLBRGTMCOLTZAMOZGMB
BWASGP
GHATURCODSLEHNDMOZHND
SDNGTMCOLBLZSYR
SENTGOSENCRISDNSGPGTMSWZPAKGTMSDNCOGTUR
OMNSEN
MWIIRNTWNGHALBNKENDOMGHATZAZWESDNKEN
MDGGTMMRTGTM
BLZIRNSDNCODGMBGTMTWNBDITGOTWNBLZSYR
SLVZWE
TZATWN
SLVSDNCHNTHASYRPAKLBRMYS
GTMKORETHGTMGMBMARMRTETH
TZA
CMR
SDN
SDNMEXPAK
BLZGAB
CMR
SEN
COG
SDNKENHNDPAK
ETHMEXKENTHARWAZMBCANSWZMDGKENZWEMYSSTPETH
DOM
DOMCOMMOZTZASDNRWASENMYSGTMGTMSYRTZASDNTGO
GNQ
GNQDOMCOMGHAATGTZA
RWAGNBSEN
CPVCMRMDVSDNDOMBLZMOZ
COG
COLZMBCOGMDGZWETGOAGOGTMSWZGMBTZASYRDOMSENPAKGMBGHAPAKCOGZMBETHTWNCOLCPVSENCODETH
GTMETH
ZMBSWZGTMMEXCOLVENCOMMOZSYRCRIGMBGHASYRMLISENCHNGTMGTMCOLZMBSWZ
ZMBHNDZMBKENSYR
ETH
BLZSDNNPLZMBGMBHNDCAN
COLTGOIRQBDIETHDOMTZAMWIATGBWASYRMRTCMR
ZMBDJIKENZMB
FJI
SENMUS
COGTHAKEN
NAMGTMJORZMBHNDSDNIRNPAKZMBMDVRWASTPKENCRI
SDNBTN
LBRCOM
SYR
MEXSYR
GMBKENBWA
SDN
OMNSGPMRTZMBDOMTZA
MWIBDIPAKCRI
COG
ZMBKENBTNTHA
MOZ
BWAGNQ
RWA
ETHLBRTZACAFKENSDNSYR
NERHND
TZADOM
SDN
GHA
SWZLAOIRQIRNMLIHNDCPVMWIKENZMBZWEGMB
MDVMLIUGAETHTZABWAZWEBWAKOR
TCDBDI
SDN
KENTZA
SENBDITCDCMRSENMWI
BTNMOZTZA
CPV
AGOTZAMLI
CPV
MRTTTO
AGO
BFAKENKEN
SENSYRTGOCRIBENCOMSYRGMBJORCOD
SGP
BFAMRTRWAMWIIRQ
ETH
BDI
RWA
IRQMWI
TCD
SYRCOM
COG
GNQSEN
VENGMBZMBAGOLAO
TGOTWNMWICPV
TGO
VENMOZZMBDOM
ZMB
MWICOGZMB
ZMBCODSDN
SEN
COMZWECOMMDVLBN
MWIIRQ
BTN
COMJORCOGSDNBENSYRGMBHNDPAKGMBSYRBWAMLIMDVSYRKEN
MUS
SYRCOMNERVENPAKMWIMDVMOZSENCOMGMBIRQJORCOMGHAAGOGAB
GMBMDVBWACOMSEN
VEN
COGGNQPAKBFAMLIBFACOMCAF
FJIIRQ
TCD
SYR
SENCOMZWEIRQVENBFAHNDHNDHKGSENDJISYRGMBTZATZAHKGSDNZMBPAKMWITZAPAKFJIETHZWETGO
PAKGHAKENJORIRQBWAMLIJOR
SENZMBRWAVENPAKPAKHKGCODGMBTGOBENPAK
SYRZWEPAKMRTSLVTZA
SEN
TGO
RWABTN
TCD
CPVBTNATG
MDVKENAGOSENBFAGMBMRTTTO
KHM
SENSYR
AGOTCD
GHABFABENGMBMOZBWAMRTIRQNAM
OMN
SGPVEN
SWZZMBNERLBN
MRT
IRQ
SYRCRIPAKMWI
RWATZA
TWNGMBHNDMRTTGOBLZBFATKMAGOMWIMWIBWAFJI
MDV
ZMB
SEN
SGP
GABMWIKENCOGETHMOZ
AGO
BDI
LBR
VENMLIGMBETHCODNAMZWECODIRNNAMRWAGNQBWASLE
GMBMOZVEN
GHA
TCDZWEZWE
LBRCOMCRIOMNNAMCODGMBHNDMRTGMB
GABJORTZAVENNAMCOGDJIMRTHND
BDI
BWAMDVTCDZMBETHNAMCOD
GABAGOSGP
IRQZWEGMBRWAETHGMB
ETH
ETHTWNSYRMRTBEN
GAB
VENSGP
BTN
KENUGA
BWA
MRTAGOTZAGMBBFA
MUSIRN
TCD
SLVBENTWNGNB
NAM
IRQ
BTN
AGO
HNDUGA
BWA
UGAAGO
KEN
YEMVEN
BTN
TCDTWNTGOGNBGABGMBZMB
SLE
SYR
MRTMDG
JOR
ZMBBFACOD
CRI
KHMBEN
MOZ
AGO
AGOVENBDI
BLZSYR
MUS
GNQ
IRQ
YEMCODHNDBENCODBENUGASLVCRIOMNHNDVENVENMDGCRI
TZA
MDVMDVOMNRWAMRTZWETZACRIUGAVENSYRKENTZABFAJORTGOVENMWIMDGZWE
BDI
SYRIRNBTNTWNBFAMDGUGABFA
GNQ
KENKENBFAGNQGABBLZKENZWEBENTZA
CRI
MDG
BFAMDG
YEM
MDG
BTNMDGIRNIRQKEN
SGP
MDGUGATCDTCDCOMZWECRIKENIRQBWAAGO
BTN
GMBMUSKHMMDVCODUGA
BFATWNGMBTCDIRQMDGMRT
NAM
IRNKHMBFAUGABTNGINKHMIRQBDIMDGGMBYEMIRN
SWZ
CRI
OMNGINMDGIRQBENTCDYEM
VENKENTWNRWABENBTNYEMKENUGAKHMBDICODMLISDNMWITZAIRNTWNGMB
CRI
KENMDGRWAKENJORCRIMWIIRQTZAYEMVENBFAMDGIRQMDGYEMBTNGMBKENRWAUGA
GABZWEJORMDV
BEN
RWAGNQOMNSWZKHM
BWA
KENBENUGAKENJORMLIMDGBTNMLIKENGNQMLIUGAETH
KEN
KEN
ETH
KHMMDGBTNBEN
COG
MWIMLIMWIKHMDJIMLIGMBJOROMNMLIMLIAGOYEMGMBBTNMLITCDIRNMLISYROMNZWEBWA
MDG
TWNBEN
TZA
KEN
BTNCOD
KENSLVGMBCRINERYEM
GNQ
VENUGAUGA
JOR
CODIRQTGOTZAAGOGNQ
AGO
ZWEKENSYR
KENDJIKENBENMWILBRYEMTCDBEN
GNB
MOZ
COM
TGO
BDI
SYRZWEJORZWEUGAYEMGNBJORIRQOMNJORUGATGOUGA
BWA
OMNUGANERYEMUGABWAUGA
AGOBENBENTCD
TCD
UGA
SLE
NER
VEN
UGAUGA
UGAETHDJINERNERYEM
NERKHM
OMN
DJI
GNQ
ZWE
GNBJOR
GNQCODVENAGOGNBIRQCOM
BWABEN
NERJORVENSGPBWALBNJOROMN
GNQBIHIRQGNQVENNERKHMGMB
COMNERNERJORVENBIHJORJOR
GNQ
IRQ
AGO
SGP
HKGJORLBN
COM
NERNERNERSWZNERNERGNQ
JORNER
VEN
GNQ
OMNJORJOR
AGO
SWZCODVENVENGMBNERMOZJOR
GNQ
AGO
MWI
YEM
JORTCDRWAJOROMN
COD
TCDMOZ
NER
TCD
GNQ
SWZJORGMB
TCD
CODOMNJOR
RWASWZKHM
GNQ
SLE
OMNSLE
KHM
SGP
GMB
JORGINSGPGNQDJIOMNGMB
LBR
RWAKHMYEMRWALBRGMBGMBGINJORJORJORRWA
OMN
OMNMWIOMNMWIDJISLE
YEMYEM
JOR
GNQSLELBR
JOROMN
OMNLBROMNSLELBR
YEM
OMNOMNOMNDJIGINLBRLBROMNMWIJORDJIMWIGINDJIJORGNQDJI
GINDJIDJIGINDJITGORWALBRGNQGNQ
DJIDJI
DJI
DJILBRLBR
GNQRWADJIDJIRWAJORDJI RWA
JOR
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-.1 -.05 0 .05 .1Ln(Total Population)
coef = 1.3610423, (robust) se = .17274039, t = 7.88
Residuals on ResidualsTotal Emissions and Population
Figure 1: Partial residual plot from column 1 in table 1. Visual inspection of the role of outliers requires adifference in the x-axis between the two panels, which obscures the fact the the coefficient on populationis larger.
17
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Total Emissions Ratio GDP per Capita Emissions Ratio
% Working Age Emissions Population Emission Ratio
Figure 2: Results from the economic-demographic model. All variables are the ratio of the outcome of the low fertility scenario overthe medium fertility scenario. Panel A (left) plots the main outcome variables. Panel B (right) decomposes the difference in emissionsbetween sources.
18
8 Appendix
8.1 Summary Statistics
Table A1: Summary Statistics for Unbalanced Sample 1950-2010
mean sd min maxCO2 Emissions (thous. metric tons of C) 38,406 153,483 5 2,259,856GDP per Capita (2005 USD) 8,300 9,478 163 59,640Pop. (millions) 37.67 128.4 0.06 1,318% Age 15-64 58.59 6.74 45.92 75.18% Urban 48.84 24.13 2.19 100.0Trade (% of GDP) 73.04 51.71 0.02 531.7Observations 5679Countries 147
19
8.2 Results with Total GDP
Table A2: Determinants of Carbon Emissions: Total GDP
(1) (2) (3) (4)Ln pop. (a) 1.161*** 1.262*** 1.200*** 1.213***
(0.169) (0.179) (0.177) (0.199)
Ln gdp (b) 0.203*** 0.207*** 0.206*** 0.226***(0.042) (0.044) (0.044) (0.052)
% Age 15-64 0.016** 0.016** 0.016**(0.007) (0.007) (0.007)
% Urban 0.008* 0.014***(0.004) (0.005)
Trade (% of GDP) 0.0002(0.0002)
Year FE Yes Yes Yes YesObservations 7133 6426 6426 5679Countries 156 153 153 147R-Squared 0.05 0.05 0.05 0.05Within R-Squared 0.017 0.020 0.020 0.023P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.342 0.145 0.260 0.285
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
20
IRQ SWZLBNRWABHSLBNSLVNGA
LBR
GNQAZE
LBN
KNA
AZE
ALB
IRQLBR
CHNGEO
OMNZWE
IRN
ATGLCABLRNORAGO
GNQ
MDV
TJK
LBRLBRTZA
GNB
TGO
COGSURCODSLESYRLBN
LBN
TKMLBN
COG
NGA
IRNNER
AGOMNGGNBSLVCOGNOR
GNQTZAGNQ
KAZDJITCDIRQSLEMLIKGZ
STPTCDBRB
MDVLBR
OMNCPV
BGRTTO
ZMBSWZ
MUSCODIRQAZEZMBGNQOMN
JOR
ATG
NGA
OMNLBRIDNLBNIRNCPV
MDVCOD
MDAIDN
TJKCOG
KHMRUSGABKAZZMB
ETH
LCAFJI
GNQ
COG
BOLMNGGABIRNJORZMBLCAGNQUKRCAFZWEDJI
CPVGRDCOGUKRBWA
UGA
PERTCDVCTTZANGA
KAZIRNZWE
KHM
KNA
KGZJORGNBCHLIRQ
GNQ
MOZCODARGUGATHA
SYRBHS
JOR
GRDSLV
LTUCOG
SYRIRNAGOGHA
IRQ
TTO
TCDVENNGAGABGNBVCTBGD
UZBTGODJI
BLZ
CPV
RWA
BENKHMGHA
VCTSLEMRTUKRZMBMLISGPGIN
ALB
COG
CODLUX
TKMNERZMBDMA
GABAZE
SGP
MWISLV
SYR
CHLGNQUKRDMAHKG
GNQ
BTNBOLSYRGABIRN
SYR
KENSUR
MUSZWEMDG
TJKRWAMARSLELKAPOLATGMYS
MNE
SGPTGOIDNBWAGINETHESTGINGHAIRQSDNPANTURCHNCOD
TGOSYR
KGZ
BDI
MRTMUSIRQ
SWZ
COD
BHS
COD
COG
NZL
NERCOGMEXLBNBHSATG
TCD
CODZWEARM
STPAGOGINTGOMLIZWEBGRZMBTHARUSZMBKGZLBRGHAPHLSWZGNBJAMMWI
TJKARM
BENTHAFJI
ZWENERCMR
LTUSYR
CAF
LUX
GNQBEN
URYGABRWA
KHM
ISL
AGO
HNDBHSBOLMOZVEN
UKRSLVJAMSTPSURSYR
ALB
GAB
LBNZMB
NER
GNB
ROUVCTDOM
BENDJIMNGIDNSDNARGISLCODURYETHBLZSUR
SGP
ZAF
THA
TTONGASYRSLE
SYR
GAB
BHSDJICODFJIURYKENNGASWZMAR
GRD
VCTZWEMLIVNM
PER
MARMYSSTPBHS
NGA
MRTKHMDOMOMNCOMGNBGNBVEN
ISLCOGPOLTTOSYRTTO
BDI
BDIFJIMWIETHCHESURMYSBWAARGBWABOLBLZ
CODJORTTOGINPHLMUSIRNNAM
ZWETGOSWZCHN
MRT
TTOOMNGAB
BEN
GINGINOMNMARLVADJIGABSYRJPN
GAB
IDN
CAF
IDNGNBSENNGASLESLVMOZIRN
COMBLZCOL
COM
OMN
MWIZMB
GHAGMBNERMDGTJKGINJAMSYR
MDA
GEO
LVAVENRUSDOMBDI
URY
TGO
ATG
PHLSLEEGYLBR
MWIAUSLKAZMBMRTKHMGABJAM
BOLBGRTHASDNLUX
COD
ISLLBRGAB
BDIMARDJIAGOROUTTOKEN
BHS
HNDCOD
GAB
SYR
BRBCAFLUXKGZCODZWEETHIRQATGTCDUZBARGKENSDNCAF
NGA
BHSMUSRWAIRLBFAPHLMWITCDPRYMWINORSWZURYSUR
CMR
MOZ
ZMBNPLECULKA
SUR
TCD
FINNPLCOM
CODJAMFJISWZBDIBRBGNBFIN
FJI
ZMBKAZDJIBGRCAFKENUGA
GNBGRDDJICAFLBRLCA
SWZ
BOLMEXTZA
BIHTCDGMB
FJI
BLZTTO
NORBHSLCAMRT
MDV
TZALAOVENVEN
DMAJAM
TCD
ATG
CHNSTP
NGA
FJI
HUNBGD
BDINZLPRY
BRBNGAVCTMDAMEXLKAHNDPHL
ATG
BRBKOR
GAB
COMGNQTURFJISYRZMBBELMWIARGSDN
ARMSWEGINKNAPRYBRBCOMDEU
AGO
CHL
NGA
ITANZL
TTOCMRNPLVENAZETTOLBRZMBATGTUNIRQ
BFA
STPCHEBFARWADJIGIN
MDGCRIBRABHS
AGO
URYCRINERPRYINDKGZ
IRQ
ETHGHATUNSURPOLCMRTURNGASLVDJIDJINERVENCMRCAFPRT
HKGLBRCHLTHA
URYSVKCMRMDAJORRUS
NPL
KENFJI
MNGJORCOMMOZDOMVCT
CRI
CHNKENLBR
LKAAGOIRQCOGMRTSURLUXTCDBGRBENIRQMRTKNAMAR
MWIMWITURZMBKEN
GNBTURPERSWEESTMUSMEXBDIGINDOMIDNKAZMDG
SYRFJIETHISLJAMCZEARG
SLV
LKA
LBR
MLI
TGO
MYSSLVISLARGBDINERROU
MUSMRTHKGGHATURJAMTTOECUAUSCOD
STPNGA
MDA
GMBKGZBRARWA
TZA
TCDDNKVENNPL
COGKORTJKMARISLMUS
NER
JOR
ATG
CHLGHAJORVEN
TGOMLIPER
GAB
BLZAGO
SLE
SURUSAMDG
SYRCHLRUSCODISL
URYKGZMARTTOCODMOZMLITKMGEOTCDDJICAFNZLALBGRC
CPV
BENSGPCPVKENDOMSENSWZ
COG
UKRISLGHAZMBCPVSVNMKDNPLLKATGOMUSJORLBRTURTURETHHKGLUXBENSLVBRBTCDESPTUNIRLPRYBLZDMABFA
ATG
GMBCPVDOMZWEGINBFAMNG
KHM
URYTZANGATGOBDIPRTURYCANTWNAZELKASGPATGGMBLCATUNNERBOLCODEGY
UGAJOR
GHA
CHLBLRNERYEMCMR
COG
UGAMLIAGONZL
TTO
HNDUKRSENKAZCOMETHSRBNGATGOECU
PRYGABTGOLKATGOBRB
SLVUGACMRMDGCOD
BHS
BDIGHABGD
BTN
ITAURYCRIARGMDGUGACAFCODROUSENBGDESPCAFAGOKGZ
COM
ZWEESP
KEN
RWA
BHS
GHA
SYRDOM
HNDMARBOLPAKNGARUSMLIUGA
AGO
NZLJAM
MAR
KNABELGINLUXMLINPL
TTOGINHRVUSACMRGMBLKAKENHNDINDSLVZAFHRVBOLVNMCODBELURYMDGISLZWEMAR
MDGMYSFJI
VENGMBCOMISLSENLVAHRVVEN
MDG
RWARWA
BHS
CHEDOMSWZCMRTTOMWICAFMUSGHAIND
ATG
FRAMKDVNMGMBLUXCODPANPANBTNRUSLCA
COG
TGO
PRY
CHNCHLJAMBIHCANKENCAFGRDKORJORMUSGHAHUNGTMNGAJAMGBRTGOGNB
STPESPNPL
BFATTOBDIJPNAUSALBCOLBLZSYRECUJORINDMUSSWE
VENTKMCPVLKA
SEN
BTNMNG
LUXMUSCOMNGAVCT
DNKCOLSLVPHL
NERINDGMBHND
CMR
ZWECOMBDIMDG
GRD
ETH
MEXSURGBRUGAZAFFRA
SDN
NORSDNNLDMLI
TURBFAUGAKAZMDGLAOCHLKEN
TTO
GABHUN
COGMLICHLBRADMACHNDOMCOMNZLMDAGMBGHALBRRWAUGAIRQ
SEN
SEN
CRINAMBRAHND
BRB
MDGGHA
LBNDNKCAF
SLVTUNBRAGNQGNQHKGCOMITARUSCAF
SEN
STPGRCFINGNB
LKATUROMN
MUSAGOGRCNER
SYR
IRN
NAM
BHSSDN
MARJAMNERFINLUXPHLMRTCOLBDIARGNGAPER
COM
USA
EGYSTPARGSLVSDNCAFBHSDJIZAFGHADJIFJISLVGTMATGUSA
JAMCODSRBISLKEN
MUSESPPANFINAGOBOLBRBKOR
NER
EGY
ECU
NLDLKA
JAMVENCHLNERGIN
GAB
GRCUKRMUSSYRZAFTZADJINORBGDOMNKORCANBDI
UGA
FJIARMVEN
DJI
BDINOR
ZWEBRACRIYEMNPLSURTZASLVCOGGABNERGBRDOMCHLCHEGEONORCAFCAFKNA
FJI
COMGNQMDV
UGAKHM
COD
JOR
NAM
LAOMWIZAF
MRTPRYSLVSENMOZROU
TCD
GTMGBRGRDHND
CRI
GTM
DJIROUSLEVCTDNKBTNCHLPRTMDVPRTLBN
IRQ
UGALAOBRANER
NORCOLISLESPGTMEGYETHLKABELIRLPERZAFSENCAFPRYMLIPERDNKDMADMA
BRBTUNINDZAFMLIMEXPERARG
DOM
BFA
RWAKGZ
BFAZMBISLTJK
NAM
PAN
USAMWIISL
ETH
GNBGMB
GNQ
GIN
CAFCOLVENBFALCAIRNBFAAUS
CAF
MWIHUNBDIKAZPOLSWZZMBKNAIRNLKAKENISLALBIND
PAN
LUXBRBBLRLUXGMBMOZBOLURYFJIOMN
PHLHUNMARMOZMLICZECRIPRYIND
TTO
ESTMDGNPL
VNM
AUSSURUZB
NPL
SURMRTJORCANDOMCMR
ETH
ISLGRCSEN
AUTBLZINDCRIPAKECUPRYGBRSVNSLVTURGMBAUS
MLI
ECUTUNCOMFRAMLITJKMOZURYURYAUS
KHMCRIMARAUTNGA
CMR
GMBBENIDNGBRVENMDG
MDV
ARGDJIITAURYPRTIRNTUNSVKGRCSWZPRYTUR
LKA
CMRTHAGHAGTMLAOGNBTUNTURCHLKHMSLEVENAUSVEN
SEN
FINPHLBRACOMISLMDANPLGINMDVBGDBENTZAMYSSDNMLIGTMITAVENGTMFIN
ISLVCTSTPCAF
JAMTCDCZETGO
CAFNZLZAFESPBELURYBRB
SDNGTMCANTWN
BFA
USANPLNZLVENAUSVCTJPNMYS
MDG
JAMPRYNERBOLTCDBDINAMLUXPHL
GNBESPGTM
VNM
MYSBOLCODMWIINDBENJORNPLKGZ
CAFAUSCRIBLZHNDAUT
CMR
NORGRCDNKGINBOLCANMLIGINCPV
BEL
JAM
NPLGBRGNBCANBOLPHLSUR
ZMBCHEGHACOLFRAARGCOLJAM
SLE
MDGAUSGHASLV
LUX
PAKBTNGTMBGD
NZLPHLCOMKEN
DMAGHAGINVENGIN
CPV
BOLHND
SLE
BFAMUSUGABELKGZ
OMNCOMCAFMNGURY
JAMGTMUKRCRIHNDFRAGINCOLBRALCAAGOCANDNKKENKHM
BGRBRAEGYSENBFA
ZWENZLGMBHNDCOL
BDI
ARMBELEGY
VCTBLRBELGMBGMBKHMAUTTUNDNKMARPHLBRA
MUS
BRBGBRTCDIRLCODIRLHNDNLDEGYPANSLESENSLVZAF
BTN
GTMJAMBELSLEUGAJAMESPIRL
IRQ
MOZBGDCZENORISLHKGECUAUTVCTSWEPRTMRTGNBTURDEUCMRLUX
KENJAMMLIFININDPAKBRBNGALKATJKLUX
SLEALB
PANKHMMEXFINSWEURY
GRD
SURDOMCZEBGD
JAM
LUXAUSJPNNGABTNLUXMEXDNKDJICHNGRCHNDBOL
DNK
COM
TZALBRBGDSLVYEMPERBDIAUSPHLRWAGMBSGP
URYZAFUZBFRAGBRITAFRABOLLUXEGYARGURY
LCA
MARGHAMEXDJITWNJORCZECRIJAMCAN
UGA
CAFHNDCAFUSAAUSCOMCHEESTGBRROUBRACHEFRA
CAF
BFACANAUSCZEFRASENSVKBTNIRLBELHKGGNBNLDGNQBRB
NZLMLIGRCDOMSLVDNKDEUURYBTNMKDCMR
FJI
GIN
BEN
SWEAUTNAMETHNGALBR
JOR
MRT
NORMRTMDG
SDNBHSJPNBLR
KNATGOALBCMRFJILBNZAFPRTSTPUZBCPVDOM
COLIRLSENAUSNLDAUTNERCHLATGROUTURCANSENVNMKHMURYSVNEGY
COD
BGRSENNPLGBRCOM
TUNVCTMNGNGAITANGA
CHE
GAB
INDKORLCAKENBLZ
NAMNORTGOFRA
ETHLUXKENBHSMUSTCD
GRCMDVGRC
KHM
ETH
VNMLKANLDEGYNERUSA
ARMLAOMWICANSTP
LBRUGASWEBRAEGYNLDCMR
SLVKENMAR
KGZECUGMBCANECUMDGGMBGTMPAKMOZZAFZAFPERLUXCOLCRINAMHUNJOR
BEN
BFATWN
TTOMARPERSVKMWIMEXMRTBFADNKTURGNB
ECU
ATGALBUSACANNPLTURVCTNZLTUNLAOPRYCODNAMBDIZAF
NGA
TURCOLETHTTOCOMIRL
RWA
NERCANPERCAFOMN
GNQ
ITABRABEN
ATG
CMR
INDURYUSAEGYAUSITAURYURYDNKCOLBLZBRBMEXDEUVENEGYHKGESPCHL
LBR
GRCMOZBRBGRDHRVKENCHLBOLLAO
STP
HUN
PANBDIGBRIDNCODPOLGINDMAIRLFINGRCGTMNLDGBRIDNLCAGEOPOLSLVFINCOGCRICOLTCDCANCHLTTOSWEHUNTUNSENTWNCANSENUSABOLCOLMDVPRYVCTITAMDGLKABFAMDVCODLTUGNBKENFRA
FININDNERSLECHEARG
MDGNZLBENPHLITAMRTCOGMEXBGRMKDDOMTTOCRI
ETH
FRANPLUSANERDMASLENLDNERSLV
IRN
BFAGTMMARDNKPRTTUN
VENKENMDGALBSWETCDLUXPRTSENJPNTUNBOL
UGA
CRIPRYIRN
MDG
COD
IRLGBRNLDSENARGKENMLICHNTUNJPNESP
THA
JORSGPSTPCMRCOLDNKGINAUTMEXESP
MDG
PHLBENPEREGYPOLVENFIN
ZAFCODFINIRLJORBENHNDSENSYR
FJI
JOR
LUXATGAUTJPNSVNPRTTURCPVIDNSWZDEUCHE
SLV
BELMYSBENHUNCOGHKGTGOHUNCOMMUSSWEUGA
BOL
BDIGRDGNBCHLMNGZAFNZLGBRCOLGMBGMBNPLPANPRYUGABELBHSCMRBENMWITURCRICHLPANCAFGRDCZEHUNJPNZAFFINMDGLAO
PHL
ISLUZBGBRBLZMARBENDOMBFACMRSGP
BFALAOUGAIRLBGDHUNCHLMOZ
JPNZAFNORISLTURHNDBELNERGHAIDNBENCOGJPNNORLUXPRY
ETHBTNFINMDGUSA
NPL
HND
MOZ
PERGMB
DMA
GNB
GMBCAFHUNBRAGMBVENIRLJORMYSJORKORNPLMRTJPNOMNNLDCOGLAOURYJPNLCABRBCHLISLHKGFRAMEXAUSCPVFIN
GHANZLVENTCDNPL
JPNPERTUNCANDMAGNBUSAPANMWI
MDGPRYTTOINDEGY
MUS
ISLZAFALBMUSMEXDEULUXBRA
MOZGRCSENJPNGIN
FIN
BENDJICOG
SWE
CODCRISVNBFAMOZGTMCHEGHAHRVARGLUXPERBGDNORALBNZLPERPRTBOLJORLKA
SLE
GEO
MUSCHLMARPRTURYSLVMARBIHCODSTPFJIIRNMARLUXNZLSLENLDPRYUSATHASGPAUTJAMINDESPLKA
NGA
JAMMUSKENBIHGINBDIMEXFJI
INDTHAVEN
LKA
GBRSWEPHLPAKCOLDEUGRCECUNERETH
MDGETHIRLSENZMB
HNDESPBLZCAFNZLCOLNZL
NPL
TCD
DOMGRCCHEHNDUSAEGYMUSJPNHUNETHECUDMAGNBMEXTUREGYCOGPOLGRDSEN
PRTGBRFINGMBYEM
BTNAUTSLESYRSENAUTZAFHKGSWEJORKENIDNAUTLCATHAOMNDNKHNDJAMBOLCZE
PRY
INDGINPAK
SLVKHM
JPNJAMARGFIN
JAMGINIRNUGAGAB
ZMBGBRNPL
COGITAZAFSGPBELMOZ
PANAUSFRAPRTHNDTCDLKATUR
SDN
POLTHANGA
BFA
CMR
TURAUTNPL
GEODJIIDNBELDJIJAMHKGARGKNAHNDBRBETHSWESLVPHL
SDN
RWAZMBMWIGMBITABLZECU
MRTGTMDJIHUN
TTOSLEKEN
URYTURCRIMEXSENESTFINVENURYDNKCANGTMCOD
BDIBHSBDI
SWEMYSPHLLVASUR
TCD
MDGMEXGRDCRIVENLCACHEJAMAZELVAPRTPOLGMB
ZMB
IRLLUXNLDCHEESTPER
URYSWEURYMKDTZAEGYBFABENATG
GNB
HKGUGAECUTCDZMBCZEBDIINDGRCGBRHKGUSAHKGMNGKORTHACMR
BOL
DOMPHL
COM
GBRNORBOLETH
MKDHUNSLVPOLBWAITASURNLDGTMISLPERCANMOZ
MDVNPL
BDIPAKSVK
CMR
ALBAGOMARNLDNZLHUNCODUGASURZAFSLEECUSDN
LAONPLBLZLVAUGA
NZLSRBSGPSWZNLDCANTZAPANGRCSEN
BDI
CAFRWA
SLE
CRICRIARGGBR
LSO
MUSAZEKENBRASWEROUCHLHRVEGYBLRDOMNORDNKTUR
ALBGRDPERHNDBENFJIEGY
FJIGTMIRNCHEUSASTPTCDTZA
ETHKGZPRYITASWEKNAPANGRDGHAVENSEN
MRT
ETHFINGBRURYKENMLIKENMARBHSNZLSWEECUMYSCAFIRQBLR
SWZ
MLIDOMBOLVENIRLMKDNERPHLESPSTPNLDPAK
JAM
GBRMRTAUSNLDCOLSWEARGDJIGBRTCDRUSCOLALBMLI
EGY
GTMESPMRTFRACRISWELVAEGYNLD
SLE
LAOSGPECUGBRMEXTGO
BGDZAF
SLEUSA
MRT
GHA
ETHOMNSENHNDMUSINDURYGTMCOMHUNKENCHEPAKNZLVNMGBRITAEGYIRL
USA
FJI
CANMYSCHEGTMGBRDNKMUSEGYITAPRYNOR
VENYEMGMBMEXRWAOMNTWNSWEGABUSAGNQARGCOL
SLV
COMPRTZMBETHEGYLUXVENHND
GNBNLDALBGTMAUTIDNSVNNERARG
GAB
CAFEGYPANNORFIN
COD
BGRIND
NPL
BRAMLIPHLBGDBLRFINCANCOLCHN
MEXIRQBRB
NZLNLDKHMSTPZAFGTMBIHBRAJAMSWESLEROU
JAM
DNKJOR
BDI
CMRGTMSTPSVNAUTIRLMEXDNKUSANZLISLDNKCPVGINBELGINNLDNPLLKAROUTGOGINCOGNLDKHM
MNE
STPZWEPAKBEL
SWZ
AGO
MUS
KHMBRBTHACODAUTCHEIRN
BDI
ARMBOLBFABRATUNZAFBELNORUGANORCHETKMUGASWEEGYNZLBGRHND
PRTDNKCANTZACPVLCACHEGMBSWEOMNECUUGABELFRA
TUNSENNLDESP
MUSVNMNAM
VCT
BELCHENGACHECHEMUSDNKCANURYRWACOLSEN
ISL
THATGOINDEGYBOL
NPL
SENNORPAKDNKKORHUNMUSCRIBRBECU
CMR
TTO
ROUSWEGINURYDNKCHEMARNOR
CAFCHEJORUSASGPDNKDNKFRAHNDECUIRLGBRMARBGDMARIRLDEULBRNORIND
JAM
BFAARGDEUBLZNERPRYSVNECUPRYMNG
BHS
AUSARG
ETH
KENZWEBELAUTTWNJPNLAONLDMRTHNDNLDDNKFINMRTBGDLCAUGAMRTNORTUNECUCOLFINECUSWECOLLUXITAIRLNLDPAN
SYRGINCAN
BRBPRTBOLNLDBGRAUSAUSZAFARGMARMOZCHN
TCD
ZAFKENCHEIRLMDGIDNAUTBELGTMDNKKNACOLGHASWEIRQVENITA
GRD
GBRCOGUSABHSNLDSLVNZLTZA
GAB
ALBGTMGBRCOL
FJIPOLEGYTCDSURUSAZWEFRACMR
CRICHEBOLKAZSWEBFACOLCHLAGO
PRYUSABRAGRCCHEVCTHND
LSO
GTMNGAJAMBGD
ZAFYEMECUDOMPHLCHLEGYDEUZAFCAFPHL
BGR
UGAAUTLTUARGVNMARGMDGBLZFJINLDFINBRASDNKORSGPIRLCHNTTOINDUGABELPER
NGA
LKACANBELIDN
ETHBEN
HNDMOZSWEFJI
GBRBFAVCTPRYIDNURYVENBDIGINPRYPOLDNKSDNMDGPANMEXGTM
GAB
IRLNZLBRAMEXJAMFRATZANZL
UGA
HNDBGRINDLVAVENHNDCANSLVSENGMBFJI
ECU
BENBRBBGDGBRETHPRTHND
LAO
TTOPRTSLVSVNGBRPAKCPVCZEAUTBGDCHLROUJORMNGPRYSWETUNCOLARGTGO
MUS
GIN
IRN
ESTMYSAUTCOMCAF
ETH
PRY
IRLSLVTZATWNITA
FINCOLCOLGTMBELECUHND
DOM
GTMBGD
ETH
COGTHAVNMECU
KEN
CHEZMBPRYCRIFRAECU
SDN
UGAZAFJORFJIEGYBENBOLCHLGIN
GNQ
COLLTUCHNSLVZAFTHAOMNAUTGMBPOLGRCGTM
COG
SGPZAFIRQJPNPAKCMRBLZITASWEECUESPDEUDJIMOZZMBSVKBELFINTWNECUPRTUSAMYSZAFBRBCOMMARZAFSENCHNIRNHUNSWEAUSNLD
JOR
LTUZAFNOR
RWA
EGY
SLVBELHND
NGABDICHLCPVDOMSVKDNKHNDNORLKAPHLHKGCHECMROMNSLVBWAMRT
STP
CMRRWA
CHEFINPERPRTBIHTHABRATZAMEX
MLICMRSWEHKGGHAUGATHABELNORMEXNAMMARSWETUNMDGKORSWZMWILBNCHNMYS
THALKA
FRAGHAROUMOZSLVBRBBELBOLKNAESPBFANZLMEXUSAITAGBRSWENORAUT
ETHBEN
JAM
ECU
LUXTUN
ROU
GTMTGOPAKMNGTUNZAFDMANORSDNNZLECUSENFRACANUGANGAZAFPHLMUSMARCHEFRAGBRNZLSLVLKAAUTGBRAUSSWEAUSAUTCMRGBRROULUXPOLAUTMEXNORFJISLVMWIISL
CRIETHAUSHKGPERDMANAMHUNMDA
IRL
CHEIDNZAFBRBPAKGRCPER
SEN
BIH
MUSPERMNGNLDFRATUNNZL
ECU
BEN
VNMLVAECUCANITAPERNERAUSFRA
BWA
ZMBPAKMEXHRVCHLMOZFINBDIINDNLDCHEMDV
VNMMDVAUSBELPRTTWNGRDMWIAUTGRCPRTCANCANITAPERITAITAMEXCOMAUTTZAGNBIDNGBRHUNISLARGIDN
PRY
BTN
CAFPANFJI
MDG
TGOCMRLBR
KEN
URYCHEGNBUSAAUTCOMPRTCHNUSABRACOMJORSVNCHESLVKEN
LUXGHAMYSAGOGBRMWINZLKNAFRADEUSVKKENBELBOL
DNKCZELKABRB
LKA
BTNPRY
JAMSTPAUSBELFINGRDISLBELMRTITAMLIGABISLCHLSVNSGPMDG
DOMAUTPAKDNKUGABWAVENUSACOLETHCOLAUSDJIMEXKNAJPNGHABELDOMMNGMOZCOLDNKGHA
BRB
CPV
TURBELZMBALBTWNKHMLUXECU
BTN
BOLPHLPOLHNDDMAFRAESPURYROUBHSURYPERLBRBOLNAMMDGGRCSWZTTOESTNORDNKUSALAOCHEKENGTMSGPARGRWADNKNZL
SGP
GMBJAMSGPESPROUATGNORSVNETHBRALKA
MOZ
ESPLBR
KOREGYUSATHASTP
URY
VNM
FRA
IRNMYSESPCRIBOLJORESPFJINZLALBUSACRIBRAIRNBELUSAGNQKENLUX
BDI
IDNCOMIRLAUSSYR
MDVIDNKORITAITABLZEGYKHMCRIPHLMLIGTMZAFECUKORCRISTPFINBGRPER
VCT
KENMDVSWEZAFZAFGNQ
COG
PANUGAGBRMOZ
ALB
BEN
NZL
LKATCDHUNRUSCANETHIDN
ALB
SWE
VNM
NLDLKACHL
SLVMARMARLUXUSAMRTITADNKSWEIRLINDCANGTMUSAIDNSYRPRTPANDNKCRINAM
CHEBENLCAESPCANGEONZLAUSLBRGMBLBNDMABGDTWNIRNJAMCOLURYNPLNLDLBNSDNBRANLDCAFBGDBOL
FRAGMBPRYPAKTURPHLBGDAUS
TTO
BHS
LKABRBBGDSDNLTUCHNCHLCHEBELJAMCMRLBRMRTHRVNZL
PAN
GMBLKAVEN
RWA
UGAMEXUSAFRACRIRUSSLEPHLAUTKORCMR
GBRMDGBGDZWEJPNMYSLCASENZAFDNKKORCHELCAZAFLAOLKA
TKMITASVNBRABELKORIRNUSASLETURGRCHNDPRYSENLKA
PERGNBECU
SVNFRADEUFRAVENEGY
PRTNGASURFRAPRTCZEJPNGBRBLRTGOPHLESPFRABELFRAFJISYRAUSBRASWEAUSNLDCMRNGAHNDBTNFRAGNBSVKPANTTONORALBISLFRAGBRAUTTUNISLGHALKANERMRTMYSAUSCANCRISVNZAFMARTWNCOLTURESPPANCANUSADNKBEN
MKDSLVIRLALBNZLGTMROUDNKLKA
VCT
CRISLVBRASWEGTMPERGBRDJIMWIUSADEUAUS
TGO
MEXAGOPANNZLGRD
DMA
PHLSVKSWZDEUUGAMKDJAMHNDGRDBENPANLTU
YEM
NERPHLCANHNDSURMWIBELPHLZWEPAKCHNBELGTMIRLCOLOMNPERDMAFINZAFEGYMOZCRIFJIPOLBRB
ATG
RWAJPNPERTCDMLIBELCOGECU
SUR
GTMTZA
KNALBNFRAMUS
ETH
SLVSLE
MYS
MOZFINAGOAUSUSASLEMYSCANUGASWEINDESPLVA
MWITTOTHAFINTUNGBRKORPAKFRAZAFNZL
BLZ
UGA
CPV
MDGMARFRAFRAARMDOMECU
TTOUGACMR
NGA
HNDHRVGBRPERSYRIRLGTMCANITACAN
BOL
TTOAUT
YEMCANDJINORGRCSLVFINMEXCAFGBR
DOM
MDGHNDBRAZMBBFAMARHRVUSABRA
IRQ
CHLTHAURYNLDDNKINDCRIJPNMEXECUIRLROUCAFBELLKABELDNKGINBRBUSAGTMDOMCHNTWNIRLGINMWISWEBGDCRIECUHRVHKGLAOMUSURYNLDSWZMARBOLAUTFRAAUTUSABFAPHLLAO
TTOPOLNORIDNMARCRI
BWA
IRLBFAPRTIRQCHEPANLUXCHEGTMBEN
JAM
CHEOMNRWAKHMTGOLTUPOLBGRUSATTOVNMTWNITATGOPRTHRVPAN
MYS
DMASLEDNK
LKAINDMUS
LBRVNMURYHUNITA
ALBCHNGRCAGOPERMEXIDNMEXKNA
MUS
CMRGTMAUS
SDN
TKMJPN
YEMAUSALBIRNGTMTHANGAVCTPAKIRLSLE
PHL
ZAFUGAFRATGO
BENISLUZBPERFRASTPZWECRIMYSALBCPVTGOMYSCHEIRLGRCEGYCANTWNLCANLDBRA
UGA
PHLTURESPARG
NOR
SLE
KENFINFINBELPRTTHA
CHEPHL
SLV
TUNVCTTHAGINUKRNLDHKGTUNNERMKDURYCZERWANLDDNKBRAPRTCOLSWE
IRQ
FINTKM
LAOSWECOLPOLTWNTKMBLZCHLMYSMUSPAKCOGTWNNORATGUGABRANZLCHNECUCOLLVA
THABOL
NER
GTMPAKEGYRWAINDCANRWAMKDDNKTWNPOLDOMAZEAUTPRTROUGRCAUTCPVTWNCRIAUSFRATZABOLPERMARNORCANPAKLTUCHEPAKBRAPRY
SWE
MUSUSABRAALBNORURYISL
STP
BHSAGOMUSIDNVENROUESPUSAITAKENEGYBELPAKDOMTJK
MWICANMDV
DNKTURTHA
VEN
FRATUNLAOARGGTMZAFZAFESPCHNKOR
EGYUGANZLGTMNLDNZLMEXPHLPAN
ECU
OMNJORUGAHNDBIHMOZPRTMEXTHACHLBOLCHL
MOZGNQDMAMUSIRNNGAMOZZAFDOMESPMEXIRNNORLUXDOMMYSBGDETHTWNSVK
BGDTGOHKGFRAFJI
TTO
COLNLDAUTAUSFRA
BTN
SWEETHGNBAUS
BTN
TURMYSMEX
BHSPRY
CHNRWATHANLD
DMAAUTPRTZAFCRICHEPER
LBR
PRTKOR
LAO
BWAKGZLBRNLDBELCANLCAGRCAUTINDPANMLIVENJPNFRAKORSTPECUPANPAKDMANPL
FRACPV
RWAINDGRCIRLINDAUSITABOLESPJPNTCDCPVARGNLDTGOLBRALBUSAFRACRICANESPNGAHNDKENMKDCODNPLZAFITAZAFROUAUTZWENZLNORDJIROUPERMNGMWIJPNCOLTZAHNDGTMMYSHNDAUTZWEVNMTURPRTBRAVENVCTVENSGPGNQUSASWEMYSCHEFRATUNDOMECUITAPHLBOLBELSWE
MRT
IND
NGA
CANTZAPAKBRA
BFA
TWNTURMNGSTPGNQBIHBWAEGYBGRHKGBTNUZB
SEN
MYSSURAUTTTOAUSVENMDAHNDBRBLTUDMAARGBFA
TZA
PHLBGDCOMGBRFINMARSVKNORESPNZLCOGCZEPHLMLINZLESPLKAVENKORBLZLBRGTMGBRDNKHKGIRLFINDEUARGBFA
AGO
VNMINDBGRTURBELKENBFAHRVPRTLKA
BGRROUBFABGDITA
TZA
ATGBRBARMZMB
BDI
LKAKENPANBGRAUSCRIGRCSYRPRYBGDMEXITAIRLVEN
GABVCTPRYCANTGOCOLUZBGBRBGRDNK
MDV
VCT
BEN
MOZUGAGINARGESTBWAPAKDOMVNM
OMNGINBFA
PERJPNBOLSWECAN
GNQ
CAFNORTUNJORCANITATWNLBN
BTNGHAFRAGRCCHLESPISLMEX
TUNSVKSURVNMMDV
AGO
GHAUSANGAARMLAO
BENGRCMDGLBR
AUSLCAVENKENHUNHNDGHA
GNQ
NORIDNLBRTWNSWZBLZCOLMNGIRLGHALVAAUTINDLKALUX
ARMSURCHEITABRASWEPANCOD
ALB
BWAPANNZLIDNLKACOLPAKHUNPOLRWADNKBENCHNFJIATGSLEZWEGRCBOLBELCOMMARJOR
BGRTWNSURLKAPERTCDJPNHUNPRYLBNGRCSVNUSATHACHLDNKMEXDOMLVAMRTMYSSVK
SGP
TKMPAKHNDBFALAOAGOTTO
RWAPOLFINAUSMYSPANPHLIDNAUTKEN
MOZBELISL
MOZ
AUTAUT
TWNDOM
ETH
NZLINDHKGMDGHNDGRC
NER
BGRGRDAUSINDVCTNLDNORRWAHKGPRT
BTN
NLD
GAB
CHECHNMDGGHA
NPL
GNQLCAPERGRDBLZROUGBRDMAKOR
BRBDNKARGUSABGDNORKORUZBKAZURYUKRFRAKHMBENITAINDPHLMARESTPANJPNATGAUSMYSPRYISLPRY
COG
MDGARGCOLFRANLDKAZMEXPAKBLRUZBGRDITAGRCMARUSAZMBRWA
BEN
MLI
SDN
DMADEUVNM
CRI
NERMUSGRCKAZPAKTHAPRY
AUTTHA
BDI
HUNTKMCOMGRCUGAEST
MYSMEXCANCHLTWNESPECU
PERNERBENTZAKORGMBNLDBELBENCHEGBRATGSLEAGOBFASTPPRYGRDSWELKAPAK
TZA
MLILBRNLDTCDPERBWAUGAGRCMDABIHCOLGBRCRITHA
HKGNAMGINMYSINDJPNMDVPRTSDNTTOITAPOLCHEGEO
BOL
MYSLTU
MDA
STPGTMKORVNM
BTN
HNDHUNCHEARGTURUSANZLLKAISLNZL
CPV
IND
FJIRWANGALVAPAKCANPANFRA
NPL
MLIAUTHRVSLVPRTHKGPERBRAINDBOLPRTPOLGBRCHELBRKORROUKENMDVIRNMYSSWEROUAZEMKDARGINDAUSMWIMEXDNKTURRWALBRROUCHNSURCODCRISWEAZEESPLKABOLCODCZEGMBITA
BEN
BWASLVHUNINDIDNROUPRYTCDAUSBGRBGDDOMTURLUXUSA
COL
TUN
MDG
ZWELUXCRI
INDMWIMWIHKGCHNVNMBELNPLCRI
LSO
MDGKENPANMUSIDNCANMDGGRCAUTESP
ETH
MRTARGBGDTWNVCTCHE
CPVMDG
EGYBGRAUTCHLVENINDIRLHKGTTOESTLUXDMAVENTUNROUPOLPRYITAGBRISLLUXIDNSGPHRVCANTWNFRA
SYRMEXBELTUNGMBCANSURROUKNALUXDNK
SGP
TGOBRAALBSWEARGPRTBOLUZBPER
LAO
LTUJPNECUTTONERESPMDATHABOLTWNAUSBENPRTDNKMEXSDNBENITA
KHM
MARALBTZACPVNPLGTMGNBUGACOM
BTN
HKGBLRESPIND
LAOCHEMUSISLPANAZESGPNAMZAFMUSSLV
GIN
TUNKHMSVKGINJPN
BWANORCHLCOMBFALBRBRBMEXRWAUSADOM
ALB
DOM
BENKORGTMBTNCMR
TGOKORGRCISL
TTO
MYSBGRFINECUNZLCODTUR
MUS
NLDITAPER
IDN
GAB
GINKHM
FJI
CANGINPRYIND
GMB
FINPANBRAGHABOLLBRDOM
SDN
ESPNPLRUSTUNDEUMDAKNAJPNGEO
GNQ
CRISGPJORECUTZATTOFINPANDOMPOLSWEKENPANZWEAUTTJKMKD
TGO
KENGRCGRDNORSTPBENAZEKENDOMLCAGRCAUT
BTN
COMHKGESPHKGIRLUZBTCDJPNAUTBOLTKMCHNMARBGDKHMGTMNGAMYSCPVPRTZAFAUSVCTTWNSVKGTMESTBRAMLICOLKORLTUBRBLCASLVPRTTHARUSTZATWNPERNER
CHNBLRHKG
LBN
BHSCOLJPNPERESPTHAPHLBIHITATZACOLIRN
MARBGRBHSLAOMNGJAMBLZTUNMLIBELBLZUGAPRTKGZBGRSENMNGHKGLUX
SLE
TWNLAOJAMPERTZACOMESPMDVGTMUKRLVAUSABLRLBR
MLIBOLNGAGTM
TTO
CHETUNPANBGRCHEVENITALUXKOR
BEN
DMAHKGGBRETHUZBIDNCOLARGMARIRLTWNETHESTAUTISLAUSECULTUGRCSLENLDPRY
ETHETHUSACZESWZZAFTWNVEN
PRYMOZMEX
NGA
BHS
BTNLCANGAURYFJI
PAN
NPLCANTUR
ECU
GHACPVISLRUSDEUARGPANOMN
CANCOM
PANLUXIDNARGROUPRTTUNPRTMOZLCAPANGHAGRCJORVNMAUS
URY
UGA
CMRARGSURCHNNPL
BFA
MRT
ARGHRVHKGECUMRTTURZWEBRBNORTWNMOZESTMEXMYSLKAINDMEXHNDGNQLKAIRN
BHS
DMAPOLBLZDMAISLMNGAUSNZLBGRESPMNGVNMTHATHAMOZITAPHLESPMEXNAMECUMUSSGP
SGPGRCCHEJPNCHERWAGMBCHLINDNLDSTP
POLIRNMYSVENGHALKABTNKORARMHKGBGRSDNOMNDMAGRCNLDCZEEGYFINVENIRLMRTLVAMUSBGRTZAVNMIRNSDNPERPHLTTOGNBTURGTMPAKBRBSYR
TCD
ECUNZLGEO
GRCSURPOLGNBSDNSWZMNG
PRT
COLNZLPRYMKDPERSGP
HNDGMBBRATGODOM
SURUZBIRLDNKGABTZAIRQHNDJPNALB
USAIRNMEXGABVENGBRSGP
MYSSGPSLE
AUSBWAHUNOMNROUKENTURGHATCDBRBTWNTWNINDSWESDNIRLMNGZWE
ISL
LAOTWNNPL
MDACAFJPNKORGABVNMETHROUVNMTHA
VNM
OMNAGO
SLEGRCCHLNPLKORBFAMLISVNCHNTTO
GHA
LAOGMBPHL
GAB
THAMNGFINPANKENCPVHRVMNGAUTPHLARMECUDNKMWINLDKHMLBNMDAKNA
MDA
CODNLD
ETH
TZAMARTUNGRDGRDVNMUZB
COM
BELNERIRLBDIVNMSYRIRNCHN
MDG
CHLBTNTWN
KHM
EGYCOLIRN
KGZCHLCAFROUBELCHNGRCLAO
PRY
FIN
FJI
ESTJORESPCRIBELKORCHNFRATJKAUTKOR
TTO
THANORCPVFINGMBMRTMKDARGJPNTUNTHAIRLNGABWALKA
ESPJPNBFABWAGEOHUNGBRSDNTWNDNKJPNURYVENGRCMOZBGRJAMESPSLVHUN
MDVATGPOLESPPRY
BGDGNQPANITABLZINDHUNBDI
BFAUGATHATHAMNGZWE
COGFINHKGBRAJAMMNGCPVFINCOGNPLSLETWNLAOGMBMKDBWACOD
LAOESPURY
GHAHUN
PAN
RWAMWIGINCOM
BLZ
SWEESPSLVYEM
BTN
BWA
GNBGRDPHLSWEYEMSURVCTTWN
LAOARGBFAFINESTTTOIDNMRTCOGNERISLKORBRACOGUKR
SWZIDNBEL
SLE
PRTPRTTKMGBRTCDMOZ
TWNPANJORBIH
GRCNPL
POLMDGPHLMLIKENCPV
LKA
JAMCPVSENYEMMUSNPLJPNITANORTHACOD
BTNTUNJORGRCMOZ
ZWE
MYSTTOGRDINDGNBBRAGHACHNTURHKGCHNHKGBHSINDDJIPAN
SWZ
RWAFINIRNBHS
VCTNLDAUTFINIRLCHNUGAMYSPERVNMETHJAM
IRLTURISLSLVKAZPRTIRLCPVKHMMRTTKMIDNLCAINDPHLCHNGRCBOLGRDJPNJPNDOMKOR
CMR
POL
CHN
SWZPRT
PRYCRIJPNARMCRITGOHKGMDV
LKAMRTNLDCOMEGYTWNCHL
THATTOIRNUKRJPNMYS
RWACHNPRT
JAM
THANOR
TGO
TTOIRN
GNQBGRBGRTGOGHAMNGMEXFJIROUPERLKAROUBOLCHLSTP
SEN
ARGBTNPOLBLZTWNPANITABLRSURPRTPOLCHLBRATURMUSTGOBOLKORIDNMDV
TZAPHLVENESP
JAMKEN
VNM
TURPRYMOZECU
URY
MARTHACOMJPNNERDOMLUXCOLGINNERPANSVK
CPV
DJI
SLE
DMABRB
ETH
PHLEGYCHNMRT
ZMBMOZOMN
FINITABRA
BRB
AUTMDG
LCAESTMOZHKGNPLFINLBNGMBRUSDOMTZAMLIMEXDJITWNUKR
CPV
TGO
KORCHLBLR
ETH
JPNMNGISLGABSGPBDICOLTWNGRDIDNMOZMKD
NER
LUXCOMIRNKHMCPVHKGBOL
AGO
CHNINDEGYJPNBDIBFAMRTKHMCMRLUXLUXSYRZMB
IDN
COM
IRLLBNDJI
AGO
SYR
BWAPERLTUZWELVAFINSVKPANROUPRTKORZMBTHADOMLTUTHABOLTUNINDZMBIDNDMASWZPAKGMBFRAJPNJAMPRTCHN
TGOBENBRALBNTWNSWZALBSENGHA
GAB
PRYISLTWN
HKGGHANZLPRYBLZMLI
NPL
CODBGRMWIMLIDOM
GAB
TURMUSCPVNOR
CHNSTPZAFDJIETHVCTHKGISLNAMCRIARGPHL
SYRBLZGIN
ARM
LUXBDITURTWNCOGURYJPNGRCMDVCHNSLE
INDROUJPN
SGP
GHA
BFAITATKM
ETH
HUNJAM
GAB
CHNGNQCHLSYRCHLSDNCHN
CPV
IDNDJICODIRLIRLARM
CHLTURATGKAZMLIIND
TGO
DMAPOLARMNOR
NGA
STPRUSISLBLZARGPHLPRYCHN
CPV
ISL
TTOGABNZLTCDMARTHAMUS
ROUCOD
PERLKASWZ
BWA
SDNMYSTWN
SEN
NERPANPOL
GAB
THAIDNIRLJORTURHNDCRIFJIRWACRI
DOM
JPNMDVJAMVNM
FINLKAMWI
NGA
IRNLTUPOL
SGP
KHMROUBRASGPSLECOLCAFDMAJPNHNDSWZKORNAMAGOCPVGEOETHMNECHLKNASGPBGRPANIRLMEXURYPOLSGPCOD
BTNNEREGYHKG
COG
UKRSDNCMRNZLFJISVNSGPMDVIDN
BRB
TUR
EGY
CPV
MUSCHNMLIPERGEOKHMLBNGNQTTOGABBIHDOM
AGO
MDAJPNBGDLCAKNA
IRQ
EGYFRAJOR
URYOMNOMNDOMBLZ
GAB
MNGNPLCRIZMBESPPRY
GNB
KOR
COM
ZWEPERSGPKHMBGRDNKGHATGOKORHUNIRLTWNTHA
GRDTUNOMNBWAJOR
ECUOMNAGOZWEJPN
MYSSLETURSRBAUSLUX
GEO
CHLBWAISLMWIIRNYEMMWIMRTATGNERETHNPLBWAROUITACRIMARBDIISLSUR
SLE
LCAUKRIRNTHAESPATGURYHUN
MAR
ZAFROUKAZVCT
BDITURBGDOMNIRNVENDMAMNGJORZMBFINZWELCA
CAF
CPVJOR
SGP
MWIITATUN
GRCSUR
IRQGMBDOM
MUS
CHNLAOJPNTTOZAFLAOKORTCD
VNMLBRTUNJAM
BTNMEXPRTTWN
BLRAZEESPGNQBFAKNAMDVTHAHUNLUXMWI
IDNMRTISLTJKETHTKM
THAPHL
OMNSUR
CMR
NORALBMLIROUIRNHKG
MYS
SGP
MOZ
SWZ
HUNJORMNGCODTWNCAFIRLTURFJISGPCHNKHMMOZZWEROU
COG
GNB
CHLISLCHLGINFJIMYSBRADMAMYSSGP
LCA
SGPMDA
FJI
LAOFJITWNLBNFJIBLZCHLBRBMNGSYRBWAPOLKORMLIKHMVNMKORJAMGRDMRTGRCGHAKOR
CHN
UGADOMBRBESPBWAOMNBGRPRTLBRBLZHKGVCTVCTKORROUKNABFAUKRMARISL
SYR
NOR
LCA
KGZTWNHRVKNAGHASTPIDNTHACODTJKRWAIRNLUXKORMWI
BTN
PHLTJKCOG
MARKNA
BHS
GEO
CMRDMAARGBRAMOZRWABTNBWAPANPRYBFAMWI
MRT
JORMWIBTNMOZUGAMARKORCOD
GEOGRCMDVSUR
PHLMWIGNBBRBEGYTTOBENCOD
TGO
LKAIRLURYBLR
GAB
KOR
RWA
PANTURSDNJORLVAIRQETHCOD
SGP
LBNHNDBTNCPVALBIRNTCDLUXGRDNERCHNATGCHNLBNBWABHSPANSYRCMRKOR
LAO
EGYVCT
ALB
SGPBTNKHMYEM
URYTWN
YEM
DMA
ATG
GAB
TZABTNIRN
BHS
BLZLUXLBRBRAKAZCOG
TTO
MLISDNNGABRASDNMAR
GNQGABVNMGNB
JORDMARUSSDN
LBNISLAGOROU
AGOMNGSLERWAUGALAOTKMESP
MARCHNARMGEOBLZDOMIRNBWATUN
SWZ
ATG
MDVURYVNMKAZECUMUSBWALCA
DOM
DOMTHAMNGBRAPERITALUXJORGHALUXKORARGZMBTCD
SLE
LBNRWA
OMN
HKGTURMRTRUSBLR
KEN
COMIRNMDVALBIRNGNQAGOCPVVNMZWEMARIRQMDVKAZEGYUZBBRAROU
MRTBDIKNABGR
NGA
LBNLAO
GABGNBJORTGOSYR
ETH
ATG
TCDZWELCATTO
GNBKENBRBFJI
ARG
SDN
STPEGYCODGNB
SLE
OMN
HKGGAB
SGP
ZWEBRBKORMNESLVETHBLZEGYGABZMBTWN
MUS
GRDIRQ
LBNSGPBWACHNKEN
GMBLBNROU
CHN
YEM
CAF
VCTCOGRWAGNBZMBTTOEGYSWZCRIIRQBIHCPV
TCD
OMNBHSEGYSYRCPVSYRARGISLYEM
BHS
BHS
FJISWZBHSGRDDJINGASYRCODBRAVCT
CMRDOM
MNGTURIRN
NGAKHMIRQGAB
MNGSEN
ATGSLVGMBBWAJORPERAGOARGBRBATGNORTUR
GRDCOGSDN
TCD
EGYGNB
BGR
IRNMDVAGOCODSWZ
BTN
STPNORMYS
COG
BWAARGDJIGRDIDN
BWA
CAFBWASUREGYZWEGRDGNQ
ATGSGPCPVSWZZWETKMZMBLCAMLI
BDI
LUXSYR
CMRZWETJKUZBZWEMDVLBNCHLTJKCHNNPLYEMSYR
SYR
AGOMDVVCTMWI
ATG
LBNIRNIRQJOR
TJK
IRQTTOJORKNA
NGA
ALBBDICPV
COGKORKHMIRQ
GNQ
KORIRNZMBATGVENSWZGNBSLV
GAB
IRQ
IRQ
TUNALBMAR
KNAGNQGRDLCAZMBNGAARGAZELBRRWASYRSTPMUSMNGSYRSURKNA
BDI
ZMB
THANGANGA
GNQ
DJI
BENLBRBWAMLICOGLBRTCDSGPAZEUGA
LBNVCT
OMN
IRQJPNMUSAZEGNBBIH
MDV
YEM
BIHGNQ
GNQTZAAZE
TCD
JORSYRGNBGNQZWE
IRQ
IRQMDVTCD
BIH
MNG
GNQ
LBNLBN
BIH
LBNLBN
MDV
IRQ
GNQ
MRT
SWZ
COG
LCAZWENGAATGTGO
GNQZWE
GNQ
LBN
GNQ
SLVLBR
GNQ
SWZ
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-1 -.5 0 .5 1Ln(Output per Capita)
coef = .20298196, (robust) se = .04233006, t = 4.8
Residuals on ResidualsTotal Emissions and GDP Per Capita
RWARWA
BIH
BIH
GNQ
GNQ
GNQ
RWAGNQ
GNBGNQ
GNQ
BIHRWA
KHM
GHA
KHM
GNQ
GNQARM
ATG
BTNATGATGKHM
ARM
ATG
BTN
ATG
KHM
ESTBTNARM
EST
CPVATG
LBR
GRDATG
LBREST
GEO
BRBMDA
GRD
GRDGRDMDA
GEO
LVAGRD
ARM
CPV
GEO
RWAMDA
ALB
GNBIRLKNAMDAALBLBRMDALBRLVAKNAGEODMADMAGRDGRD
MDA
GNB
ATGBGRLVA
CPVBGRKAZKAZDMASUR
IRL
DMAIRLMDAKHMKAZ
DMAESTKNAALB
TTO
ESTIRLKNA
SUR
BIH
SURARM
GEO
GEODMAKNAGEOATG
GEOGEOLVABGRGEOPRTIRLCHNKNAGEOKAZKNAIRLLBR
DMALBNBGRALB
IRL
LVA
BRBGEOGRDMDAMDA
GRD
GRDHUN
MDA
ESTHUNBGRSLEKNA
CHNKAZ
HRVHUNDMAHUNMDAUKRFINGRDHUNLVAIRLGRD
ATG
BGR
BTNBTN
UKR
SLE
HRVBRB
LBNSUR
ALB
GRDUKR
BGR
CPV
HUNPRTGEO
MDA
BGRLTULTULBRPRTDMAUKRSURIRLPRTBGRBGRBGRBRB
KAZHRVBGRZWEKAZCHEUKRGEO
HUNCHEUKRBGRMDAESTIRLARM
LTUUKRLTUPRTLVAHRVHUNPRT
LVACHEUKR
LBR
DNKUKRPRTUKRAUTLBNBGRPRTDMAHUNBGRDNKAUT
DNKLVAAUTFINMDAMOZMDACHE
ATGLTUROUDMAARMUKRPRTAUTAUTBELEST
SLE
ROU
DNK
PRTLTUBELAUTPRTBGRDNKSWELVAROUAUTTTOLTUAUTUKRIRLROUBGRBGRBGRIRLBELDMASURGNQGEOBELGBRLUXSWELTUGBRAUTHUNAUTUKRIRLBGRLUX
PRTBGRGBRBELIRLSWEURYALBGBRESTAUT
DMA
AUTHUN
KHM
BGRMDABELDMA
KHM
LVAGBRITAAUTGBRDNKKAZBLRLBNRWABGRBLRITAURYAUTAUTPRTROULBNGBRIRLBGRCPVSWEMOZLVABELBGRITABLRDMABELGBRLUXLVACHEAUTUKRAUTDNKBLRITABLRBLRLTUDMALTUGBRLTULVAKNAHRVITAITAGNQSURGBRDNKROUKAZALBAUTLUXBELAUTBGRROUBGRBGRROULVABLRLBNIRLLUXGRCGBRCHEITASRBLUXATGSLELUXGRCHUNROULTUHUNGEOURY
TTO
GBRSURLTUBELROUNORSWEDMAARMESTGBRSWEAUTLUXITARUSROULVAAUTBRBPRTDNKBLRPRTBGRBGRBLRAUTRUSLTUITAIRLITALTURUSFINBLRITADMAROUBELBLRRUSBLRURYESPGRCGBRAUTBELBGRBELLUXBLRBELGEOESPRUSLBNDMAGEONORGBRDNKDMABLRBELFINGBR
ALB
ROUNORBLRUKRNZLITAGRCBGR
GNB
ESPESPFJI
HUNHUNHRV
DMA
ARMSWEGBRIRLGRDBRBROUFINROUSRBAUTSWEGBRLTUUKRSWEVCTROULTUFINBELFJIPRTIRLFINNORITANORBELGBRGBR
GRC
SWEURYBELGBRLUXLVAITAHUNSWEROURUSBELDNKGRC
LTUDMA
BRBDNKROU
AUTOMNESTHUNVCTSURDMABRBAUTIRLGINBELHUNGBRHUNNZLDMABELBRBBELGRCSLVBELGBRSURFINDNKROUHRVFINAUTMOZBGRFINGRDSWEVCTGBRHUNROUNORLUXNZLSWEBRBRUSSURIRLESPFINRUSJPNIRLGNQAUTBRBAUTFINNORGBRBRBGBRROUPRTDMAHUNIRLFINNORITAFINGRCBGRESPLVACHEROUGBRHUNAUTGBRESPRUSGRCHUNGINPOLMOZRUS
SUR
DNKSURGINDNK
MDA
HUNPRTBRBLUXPRTNORRUSBELFINVCTJPNDNKGRCSWENORJPNGRCBGRSWELUXGRC
MDA
HUNBELHUNBRBLBNNORCHEBRBLBNGBRGBRSWELUXBGRFINBRB
FRAGBRBGRFINITAHUNROUNLDITAHUNAUTFRAITACZEJPNESPGNQGINHUNGRCBRBPOLGINATGSWESWEBELROULBRCZEDMAFINSWEITAHKGIRLDMAITABFABELBELFINESTLUXHUNNLDLUXBELCZEHUNCZEGRCATGHRVCZEDNKPOLIRLFINESTPRTSWEDNKBELBLRFINSWECHEAUTHUNFRANORBLRGBRPOLDMAIRLITAAUTSWEPRTBELHRVFINHUNDNKSWEDNKDNKHRVBGRURYHUNJPNBRBARMPOLHRVESPNLDBELHUNFINVCTROUPOLSWELUXITAUKRPOLROULUXFRAFRAGBRCZECHEZWEFINROUGBRBRBHUNHKGESPITAGRCDNKBELGBRDNKNORBIHNZLITAITAITACZEROUJPNITAESTGRDIRL
FJI
FINNLDGBRLUXSWEFRAROUNLDGBRBIHDNKBELITAGNQFINHUNITAAUTDNKFRAHUNHUNBGRROUBELROUAUTLUXDMAVCTBRB
DNK
ITAOMN
PRTRUSBGRURY
SLEGRDDEUDNKBIH
BRB
AUTSWEROUPRTJPNDMAGRCHRVDMAPRTCZEFRAITAPOLESTITALBNHUNPOLCHE
JAMPOLDEUBRBSWE
BFA
BELSWEITAHRVDNKITAPOLCHEARMFRAPOLNLDSWZAUTZWE
FRACZEDMAITAVCTCZEMUSNORFINGIN
FINBIHBRBPRTITARUS
BRB
DEULUXPRTAUTITAGNBROUIRLNLDFRAROUNORBELPOLGBRBEL
JAMCHEHRVZWEITAFINGRCJPNDMASWEDNKFRAURYCZEESPBELNZLBELTTOBRB
JAM
PRTPRTPOLAUTSWEAUTURYSWEVCTFINGBRITAGRCFJISWEPOLFINSWEPOLISLJPNDNKITANORNZLUKRGRCHRVDMAPRTURYALBVCT
PRTGRDLUXFINFRAITASVKNORITABRBDEUFRASWERUSURY
ZWEBRBBDIBFAROUCHECHEVCTBIHGRCROUIRLNLDESPTZAJPNPOLVCT
DEUPOLFRANORITARUSDEUURYNZLSWEURYAUTFRANORRUSBRBBIHFRALUXITAVCTDNKMNELUXTTOPRTITANOR
URY
URYFRA
VCT
LUXBELFRAITADNKPOLJPNPOLJAM
ESTNORSWEGRCSVKGRCAUTVCTURYJPNNORGBRITADNKKNASVKNORESTDEURUSPOLKAZGRCESPPRTFINJPNBELVCTAUTESP
VCT
FRARUSNORPRTITASURFRANZLDNKVCT
FINDEUFRAROUNORDEU
VCT
ESPGNBPOLDNKJPNDNKBFADEUJPNESPURYVCTARMPOLSVKLUXNORNLDBRBSWENLDHKGESPJPNFRADNKSVKSVNNORFRASWECHEESPVCTESPURY
ESPFRAPOLBRBMUSFRAPOLNZLNORSWEURYBIHNORSVKJPNJPNESTCZEHRVESPITAOMNDEUURYARM
NORSVKJPNESPFINGRCSLEPOLROUGBRLBNSVNDNKNLDVCTJPNBRBLUXPOLARMJPNBFATTODEUJPNSVKNORDNKNZLJPNGINSVKJPNPOLGRCSVNCHEBELSVKNZLARMJPNGINFINKGZSVK
CPV
BFAFRANORESPVCTGBRROUNORESPSVNDEUESPPOL
URY
DEUGBRMUSBELLUXJPNTTO
MNEBRB
BRB
FINHKGGBRAUTNZLBRBBELSVKJPNNLDJPNGRDESPJPNJPNGBRBELIRLDMAFRAESPSVNSWEGRCCHEFRASVKFINURYARMFRABELNLDURYJPNSLVROUVCTBEL
MRTBELALBROUESPJPN
BRB
CHEURYLCAPOLESPPOLESPJPNGBRSRBJPNCHEDNKFRAFINJPNVCTNORSVNDMATTOHKGJAMVCTBELITAPOLSWEJPNURYGBR
GNB
MKDJPNNLDSVKSVNTTONLDTTOGRD
ISL
FRAUSABRBDMAFRAGBRJAMESPURYGRDURYCHEUSABRB
ALB
GRCTTOAUTUSAUSANORMWIFRAGRCJPNISLBFAGRC
ATG
LCASWEJPNJPNGRDISLUSABRBDNKBRBFINSRBGNBSVNFRAJAMVCTSURPRTNLDSVNZWEROUGRCCHESVNISL
GNBVCTMWISVNNZLVCTOMNJPNSVKNLDLCAGBRSVKMKDSWEPRT
PRTJPNDNKBRBSWEPOLMKDFINGABKHMROU
MNE
MKDSWEMUSROUISLSVKBTNGRDSWEBIH
BGD
CANFRABGDAUTSVNUSAUSAPRTNLDLUXZWENORURYJPNFINURYJPNVCTFRA
BDI
URYDNKURYTTOFRAZWE
TTOCZE
JAM
BRBMKD
BRB
CHEUSAKGZDNKCHEMUSBRB
URYESPJPNDNKBDITWNDEUFINMKDIRL
VCT
ALBNORSVNPOL
CHN
JPNNLD
MUS
CHEUSASVKFRA
ATG
KOR
DNKTTOGRDCHE
URY
NLDFINSVNCHEFJIMKDPRTUSAESPCHENLDUSASWEFRAFIN
GAB
ROUNLDURYLUXESPPRTURYARMPRTFRAIRLESPGRDGBRPRTGINJPNSVNISLAUTFRA
GAB
BRBNORGRCROUTTOSVNMKDUSALUXCANJAMUSASLVGRCESPCANSWELKADNKPOLGRCGRCNORDNKIRLDNKSWEMKDGRDDNKMKDCAN
CPV
URY
FRAPRTBRBTTOUSABFABDIPRTZWEMKDROUESPFINGRCFRASWEDNKVCTLCAGRDTTOVCT
FJI
BRBNORUSAUSAVCTJPN
VCTDEU
BFA
TWNPRTKAZNLDNZLPRTPOLGRCBRBCHEFINVCTKORKORALBPOL
JAM
AUTBELISLNLDFINDNKBDIPRTMKDUSAFINDNKTWNGBRHKGUSADNKESPPRTPOLCHEBLRLUXNLDITAUSAFINGRDSVN
KGZ
BRBNZLMUSTWNTHAPOLGRCGINGRCPRTLUX
TTOMUSESPGRCNLDTTOGRCFJI
ARMNLDPRTMKDUSAMKDGRCESPBRBGRD
TTO
KORURYGRCTTOMKDCHEFRACPVNLDSLVUSATTOGRCISLISL
TTOFINFINTWNESPFRAJPNTWNCZEESPISLSVNNORNLDURYLAOTTO
GRCLBNAUT
MNE
VCTESPSWEESPGRCAUT
NORNORNORALB
FJI
GRCNLDMKD
TTO
BRBNZLPRTNLDMKDHKGAUTESPFINLUXCHEVCTTWNMKDMNGKORFRAUSA
MOZ
DEUPOLGRCDMALKASWE
URY
IRLKORISLNLDTTONLDJPN
FINALB
ATG
SLVGRCIRLGRDNORNLDCANESPNLDESPFIN
SLVTWNDNKGNQTTOALBFJIBELKORKORLCANORKORGRDAUSFINAUTIRLTWNESPNLDSLVUSAJPNTWNCHNCHNMRT
ISLSGPDNKHKGAUSCANTTOGBRKORPRTGRCUSAALBFJIHKGKORLCAFRA
JAM
KORCHNURYNLDNLDCHNIRLPRTPRT
DMANLDKORCHENLDISLLCAKORTWNKORNORLKANORNORFIN
ATGHRVNORMUSPRTKOR
DMA
AUTGRCKORJAMTWNFINLUX
BTN
KORNLDGRDGBRESPCANATGAUSFJIKORNLDTTOCHEKORLUXTTOCHNGRCUSAKORNORDNKURYMRT
USAZWECZESWEISLCANCHEAUTBELBELCANBFAKORHKGHKG
GAB
NLDCHN
DNKUSASGP
THAMUSJAM
NLDLUXTWN
ISLJAMLKACANCHE
LCAKORTTOCHNGBRCHNBLZCPVNLDJPNURYALBURYDNKLCAJPNAUTLUXKNANORAUS
URYFINCANAUSJAMURYGNQNLDNORCHN
CHN
CHETTOHKGDEUGNQLAOJPNDNKALBISLJAMNLDPRTLAOTWNCHN
MRT
ATGCANKORFRATHACHNNLDTWN
CPV
SLV
ETH
ROUNLDSLVISLTHAITAURYHKGMRTGRCAUTURY
KORKAZARGFJI
TWNISLISLKORTHALUXTTOKORLUXLUXNLDURYLKAALBBELCANGBRNLDCHEKGZBELVCTTTOJAMMNGURYSLEGBRHKGSWEGABNLDNLDBDIURYUSAFINSLECZEISLBELNLDNLDFRACHE
LBN
CHNCHNVCTCHNSLVCHNITAFRABFAMUSMRTFRAJAMCHNJPNJAMCHNSGPNLDSLVISLALBSLVBELAZECANAUTSLVLKAURYNORAUTOMNLBN
TTO
CHEGBRIRLNLDTJKCZEJAM
GAB
CANTTOLBRUSAIRLNLDSGPURYAUSJPNMUSHKGSLVSWZUSA
KHM
CHENZLBELFRAJPNGBRDEUMUSISLCZEFRAIRLFJIJAMCHENLD
LKA
VCTARGSLEURYFRAITASLVCHEMUS
GNQ
URYURYLKAURYETH
THAARGCHEMUSAUSGBRTHAAUTCHELKANZLBELHKGLKAGRCJAMISLMUSTWNSWE
TTO
GAB
JAMAUTTWNSWELKAAZETWNIRLCHLTWNAUSITAGRCJPN
KGZCHLITAITA
KHM
LBNCHECHNTWN
LAO
FRANPL
SLE
GBRJAMPRT
GNQKGZITAARGSUR
JAMNZL
SGPBLZCHNURYARGJAMJAMJAMMRTLKACHLSLECHNCHE
ARG
BDI
SLV
MNGCHLARGAUS
MRT
FRAARGTWNTWNPRTSLVMWILCAUSACAN
ATGHKGTWNLBNSLVJAMHKGSWEARGGRDTWNKORCHECHEURYCAN
ETH
KGZMUSLKATHACHLCHNARGJAMNZLPRTLBRSLVCANCANLKANPLSLVKORFJITWNTTOJPNKAZCANIRLJAMITAKORLKAJAMGRCARGPRTESPTWNLKACHEBIHFRABDIVNMMNGISLSWECHEITATTO
CANJAMCANCHENZLLCAMUSFJI
SLESLELKAMNGTJKKAZURYROUCHEUSATWNCHNAZETHASLEAUSISL
LKAARG
SLE
ISLNZLKORCANHKGKORISLGRCKORMUSIRLCHNARGUSACPVCANLUXMNGBLZAUS
JAMLKAFRAMUSISLHKGZAFARGARGAZEGRCGRDCPVHKGSLEBDIIRLLCAHKGLKAARGCANUSAARGJAM
SGP
LCA
CAF
LCA
ARGJAMTJK
ARGCHNHRVMNG
MOZ
BLZARGLUXCHLURY
GAB
LUXJAMBLZTHAAUSMNGARGTHA
MUS
MUS
MLITJKARGMOZCHNISLKORUZBNZL
MUS
CPVLAOARGJAMMNGARGCHNARGSGPSWE
SGP
NORNLDARGHKG
MUSMUSARGCANJAMAUSNPLCANTHA
GAB
IRL
SLE
ARGJAMUSACMRNZLVNMLBNKORARGTTOHKGNPL
AZECHNCHECHNCHNARGCANBGDJAMSLVCANARGIDNGRCUSAJAMLKASURSWZGRDISLCMRMLISLVBRABRAVNM
GIN
CANARGARGUZBARGCMRIRLJAMBLZ
MRT
FJISWEIRLJAMPRTGNBGINCHLBDICHNJAMARGKORCANCANJAMSGPISLISLCHLJPNSURFJIHKGUZB
BHS
TUNMUS
JAMCPVGNB
TCD
ARGUSALCAAUSLKAISL
LCAGNBUSAARGCHLUSAUSAISLGRCMLIARG
BDI
MUS
CHEBRACHNUSALKAJAMBDI
ETH
AUSZAFLUXCHLIRLAUSGINARG
TTO
AUSHKGLKATTONZL
FJI
MUSMARGNQKNAUSABHSCANBRASURETHMNGCHECPVISLSLVISLAUS
VNM
CANAUSMUSTUNTUNLCALKATHAZAFCANLBNMARAUSUZBFJISURARGUSAMNG
MUSUSAUZBPERTJKKOR
ISLIDNARGNPLUSACHLLUX
ISL
AUSCHLNZLSGP
MUSLBNLCAISLISLVNMKAZCHLAZEAUSSURCHLJAMARGISLUSAAUSLCA
ETH
MRTAUS
ETHOMN
LCACPVUSATTOUZBMLILCALCAARGUSAAZEKHM
FJIMUSCHLUSAUSACMRAZEMUSAUSSTPARGGHA
TCDMLIPERTKMCHLUZBNORCHLCHLTUNPERCMRKHM
LSO
TKMTUNMARTUNCHNSTPLCAIDNUSAARG
LSO
ARGCANETHLCAKGZ
MARCHLCHLAZETUNUSALKANPLNZL
LCA
LCAMUSTJKAUSLCATHA
ZWEARGBGDBRATWNATG
LSO
AUSIDNUZBVNMISLMLILBNFJITUNIRLESPVNMAUSNZLMNGUSAKNAUSACHLETH
GIN
GINCANKORSUR
MUS
LAONORAUSMARIDNZWETTOZAFNZLTUNVNMVNMARGSGPTKMHKGATG
TTO
NZLTUNINDTKMVNMUSAAZELKAVNMUSAKGZKORTHALUXVNMTWN
CHLCANPERCAFARGNPLSTP
ETH
TUNUSA
BGDVNMCANNZLVNMTWNKAZARGARGCHNTTOMUSLCAINDMUSCANSURARGGNBCANGINAUSCHLCANINDINDSGPAUSSLVGHACMRTKM
TJK
SLEVNMBHS
PER
ETHSWZTUNSURINDTUNOMNARGBGDTKMMARTKMAUSKHM
ETH
CANMUSMNGUSATHACANGINEGYGRDZAFKNABHSLCAIDNVNMSURIDNTJKUSACHLCPVVNMAZEIDNCHLETHTJKSURJAMATGCANARGCANSURIRNCHE
ETH
DJICAN
LCAAUS
SGPSLV
CHLETH
SLV
FJI
CHLCHNAUSTCDMLIBRACHLMUSCODTUN
CHN
LKAVNMMUSINDMLICHL
TKM
MLISURUSALKA
CHLAUSSLESLE
CANBHSINDNZLIDNCHNFJILCAIDNLUXCANINDTWNBGDUZBESPBRAKHMTHALCATKMTHANZLISLTHATWNMWIKHM
MNGTHATKMKORIRNNPLNZLINDIDNHKGKGZSLVTUN
LCAAZENZLPERSLVCODIRNCAF
CPVAUSMLITHATUN
UZB
MARALBCHNATGTHAMARHKGTHACPVLBN
LUXLUX
FJI
ARGNOR
IDNETHTWNCHLTUNINDTHAMARKGZ
GRDHKG
JAM
CODVNM
GIN
CAFESPKHMETHTUNTUNCMRLKAGINISLTWN
BHSIRNBLZTKM
BLZ
KNACAFBDI
BDITUNCHNIRNSLVMDVTUNFJIIRNNZLMUSAUSARGMDVCHLNORGTMETHTURFJILKAKNAIRNTJKMARATGNZLSURCHLTHA
CMRNERIRNSURCHLCHNBHSPERBFALKACHL
BWAALBMLICHLEGY
RWA
SLEKGZ
MARKAZTURFRABWAIRNSURKNATURARGSLETHAKORCODCHLESPAUSTTO
BGD
ZAFTKMFJIETHBRAPANMDGBLZAUSLCAAUSAUSBWANZLKNAIDNBHSMDGEGYIDN
JAM
MLI
GAB
KAZETHBHSIRNBHSBWAMNGSLVTUR
EGY
NPL
BRALKASGPLAO
THA
ALB
ARGMUSFJI
ISLMEX
SGP
BTNTWNTURBWANZLMLITWNSGP
CHNNERMEXKNAMARPERCHLLBNISLIDNMEXATGGNBGTMATGIDNCODNZLFJI
GTM
LBNETH
MDVLUXIDN
BIH
LUX
NER
IDN
BHS
BRALKAMARCAFLKAMDVCHNIDNTURCHLMEX
JAM
MEXBRAALBBRACHLCANSWZISLTUNAZELKATURTURGNBTUNFJI
STPINDKORGINSGP
VNMCAFMEX
MOZ
LBNMLI
ETH
TUNTHATURSLVMLIINDIRLVNM
VNM
THAGTMFJISLVINDTWN
BHSAUSEGYCHLTKMIDNISLBRAKNAKNACHLCOD
THAMEXLKAMLIMLI
MLIBFACHLUZBKNAGNBKNANZLMARMUSBRA
MDG
NZLTURIDNMNG
ISL
ZAFLCA
NPL
KNASTP
AGOIDNKNATURFJINZLMLIUZBKHMNORNZLCHLTCDETHMLITWNLBNMEXBWANZLAUSCODMARIRNESPKHMFJISURBRAFJIDOMIDNLCAMEXPER
TGOMDGBRAGINTURLUXLKACAFSURSLENZLBDINERZWECHLCMRIDNMARISLHKG
ETHBFAMEXGINMUSMLI
CAFSLE
BRAVNMISLMLIMDVKHMKNAMEXTURLCAFJI
MLIFJIIDNKGZBRAIDNIDNTUNMEXINDLCAZAFSURETH
COGDOMDOMKGZBHS
BGDMARLUXIDNLUX
BDI
MOZ
MEXIDNSURPAN
MOZIDNDOMZAFINDGHA
TURBOLOMN
ZAFTUNCOD
ALB
TJK
GABCHEINDZAFBOL
MLI
MLIMLIZAF
KGZ
MDGBDIMDGLCATCD
IRLZAFDOMBENMEXBHS
TTO
IDNFJI
MOZBRACHNKNACODTJKLBNIDNTURBWATHASURIRNIRN
BEN
LKA
SLVESPSTPISLIDN
BHS
AZETCD
EGY
TJKIDNBOLBHSMDGMEXMEXNER
BHSSLEBWACPV
MOZPANIDN
BIHDOMTURIRQMEXBOLGNB
FJI
MOZ
COD
TURLKAINDIDNBHSBENMUS
TUN
CHLGINAUSCHLMDGTJK
BHS
CHLPANINDCOLINDEGYDOMPER
TURDOMTURBOLBDITUNMLIEGYJORBLZCANBRABOL
ETH
BRABRANZLCHLDOMTUN
TURGINBHSCPVCODNZLEGYIND
NERGTMLAOTUNSURTUNAUSJAMALBNGABHSTCD
TKMCHLCOLKORSLVUZBSWZMEX
JAM
MARECU
SLE
BHS
TWNBOL
BHS
COMVNMPANSURCMRSTPBOLBRASTP
TURTURCOLDOMSGP
NER
NZLBOLMEXEGYMNG
TCDMARBWAIRLEGYBHSROU
TGO
AUSBFALBNCOLBRATURMNGLBNTURLAOTTOTCDEGYDOMBDIEGYCOLMARLAOMAR
BOL
BOLECUSURTURDOMESPCPVBOLDOMTJKCHLMEXDOMVNMCOLECUTURALBTUNECUCOLCOLMOZGNBBGDPAN
TCDTGOPERSGPKORPAN
CAF
COLPERIDNEGYIRQIRNCOLTURBRANERMEXINDCANTGOMEXTURSLEDOM
DOMKORTURCOLNZLCHNNZLTURTURPERMOZBOLPERLBNCOLKHMCRIIDNBHS
MEXMARATGMEX
TCD
ARGCOLCAFBRAINDMDVDOM
TCD
BRA
ECU
SLETURAUSTCDIDNCOLTURMEXTCDBHSNZLBOLCOLBOLZWETHAEGYGHATURMDVDOMCOGSTPVNMFJIPANIDNBOLSWZBENIRNEGY
LKACHLCPVBOLFJI
LAOGNBIRLHKGKNACOGBENNZLMOZ
SLVLAOVNM
NGA
EGYTURIRNMARPERISLCOLNZLISLGNBZAFNZLPANCOLTCDPANIND
SLE
TTO
LAOTCDSTPMEXINDCAF
MARSTPALBKORARGZAFCHLDOMMOZDOMJOR
KGZ
SLEBHS
COLDOMVNMVNMBTN
IRQBHSINDLKALKAZAF
MOZ
INDINDINDVNM
AGO
ISLKOREGYINDIRLPANSLECRISTPBEN
NGAAUSTURBOLLAOSWZBHSAUSGTMVNMEGYTUNTUNVNMCOLPERNZLGNBINDVNMJORINDSTPTURNERBFADJIMDGEGYIND
SGP
VNMTURPERPANLKA
ZWEFJIPERNPLECUINDTUNTURIRLCOL
BENEGYSLEECU
ISLTGOCOMBOLDJIBRACOMECUSWZSTPTCDCHLSTPPERCOMINDBOLNZLKHMBDIISLTCDCHLETH
BHS
BOLBOLDOMEGYSTPALBLCAPANMAR
AUS
MLI
LBNLAOINDESPDOMAZEAGOMDV
STP
IDNINDSLVGIN
ALB
INDTURTURECUMNGBRA
VENGINBOLCOMMYSINDBRAEGYMOZINDGABTURTHAMLISTPLKABFAPERSLEAUSBRACOLECUAUSCOGMWIMNGALB
NGACAF
IRNCOLIRQPANALB
CPV
BOLVNMHKGSWZPERVNM
EGYBHSINDCANALBCAFCRICOLBRA
MARBDI
TGO
PANEGYINDEGYLAONPL
LAOUZBMDVMARCOLSGPSTPEGYAZENPLEGYTJKMNGCOLBENPERNPLCPVIND
NPL
TGOBGDCRILBNNPLCHLINDCRIEGYPERINDBWABFATURMDVBFABENPERMEXMYSPANMEXAUSTTONPL
TJK
JAMEGYBHSBTN
EGY
MDGBHSMEXDOMMYSEGYCHNSTPECUBRABOLEGYTURCOGMAR
TZANPLDOMMARISLCAF
VNM
VNM
MDVGINTUN
COGISL
SGP
BFAZAFTURBOLSGPTURTCDINDMYSINDMEXCOLAUSCOMBHSEGYTURZAFMARBRAMNGPANHKG
LAO
CRIIRQSTPPANINDJORIND
LKAALBCOLCOLCOLDOM
SGP
IRN
STPGINKORCOLCANBOLTWNEGYTUNMYSCODINDMYS
EGYINDMWIBTNTURIRLPANMLICOLVENPAN
PANBEN
CODBRATCDMOZBRA
TGOCAF
PRYBENECUCOLZAFECUCOG
MOZ
SDN
ECUCOMMWI
TCD
VENIDNMARVENSGPIDNLAOTHASGPPER
BFA
CRICPVCHLGTM
BHS
PER
BHSSGPCOLCRISGPTGOCHLPANZAFSENESPMOZMYSCOLEGYPRYGNBPHL
GIN
ATGZAF
GAB
CPVESPMYSMAREGYLKASENSWZTGO
NPL
COLBRABEN
STPRWACOLMYS
BOLEGYMYSBOLATGPHLDOMTKMSGPBOLAUSTGOEGYGNB
HKGINDIND
JAM
TGOINDCOLGINZAFCAFUZBBGDPERMUSDOMDOMEGYBOL
NPL
LKA
PAN
CAF
DJIGTMTWNPRYDOM
MDG
LAOPRYCOMIDN
KHMLBNBENVENNERBRAPERNZL
BTN
GTMDOMSENMYSEGYNGA
ALB
COL
COGMARMYSGTMIRN
BTN
JORVENTUN
TGO
VNMPRYCAFMYSZAFCRIEGYPRYSUR
NPL
ECUTCDDOMCPV
NPLGHA
BEN
MNGRWA
GRDBOLMLI
SWZ
HKGDOMNGA
EGYMYSECUIRNSGPKORBFA
AZEZAF
NPL
BHSTUNIDNIRLCAFBOLPHLECUBDITUNGNBMYSNPLCOLMYSKGZKGZ
MDV
SGPSENZAF
MOZ
GTMCOM
PRYZAFATGCPV
PRY
MARBOLEGYPRYBFATGO
PANAUSTGOTGO
CAFVENSWZVNMSLVGTM
BOL
COLTUNPERMARZAFMARZMB
NAMPAKIDNMYSTUREGYSTPINDIDNEGYPRYMDGMYSALBCPV
MOZMNGIDNPHLPRYNPLCAFNPLGTMGINBRAGTMSTPRWAMYSHKGEGYCPVZAFMNGBFABGDCRIBHS
STPNPLGTMTUNEGYMARNPLPRYSYRBOLBTN
SDN
KORAUSBRABOLINDIRLEGYTGOCAFNPLINDPRYZAFPANHKGZAFNZLGTM
LKA
NPLBOLPRY
FJI
BOLCRINAMGINNGAPANJORMOZCAFTURPAKMAR
MARPAKLAO
COMEGYTHAPAN
MDG
BWA
BWAZWEBGDTUNBOLLKAETHGTM
BEN
BOLBOLSTPCAFEGYPAKGTMMEXGTMDOMSWZ
BENPRY
GAB
NAMMOZPANPER
ECU
ECU
SYROMNLBRSTPSTPNGAZAFMYS
SDN
PRYBOLSTP
GTMGTMZAFTURMWICHLIDNCANAGOIRQNPLECUZAFDJIPERMARLBN
STPDJIMAREGYPERMAR
NPLIRQBGDMARMARPAKPRYIRNINDGNBZAFGAB
GNQGINCAF
MYS
CANIRLEGYIND
PAN
DJIKHMZWE
PANMARMARIRNNGATUNSLEGNB
CODBOLLAOEGYZAFGNBAUSINDDOMNAMDJIDOM
TUN
SWZ
BDIPERCOGPHLLKAINDGNB
VENMEXZAFPRYSENBWA
ZMBPERPAKGAB
ECU
ZAFPAKSTPNGAMYSGINECU
SENGHAEGYPRYCAFBGDGINCRIVENLKA
MDV
BLZIRNPAN
CAF
PRYLUXBTNBDI
DOM
PRYBOLGNBZAFVENLKARWAZAFBGD
SDN
ZAFIRNPERCAFPAKGABPRYPRYLKAECUZMBMDVBOL
BTN
IRN
GNBBFA
TJK
BDI
TUNPERGTMALB
BFA
TURSDNMARDJIVENMLIPERGIN
TCDMWIMYSLBRMDGLAO
SWZ
GNBSENZAFPANPAN
CMR
MUSPERBGDNGATCDGTMCAFCRITGODJIRWAGHAPANSLVPANSEN
ATGBGDNAMCRIGINGABLBNGAB
IRLSGP
PAN
MDVMARECUNAM
PANSWZPRYFJILAOSGPEGY
PRY
TCD
ECUSLV
NPL
STPUGA
MDG
BENSLVBENUGAPHL
BDI
ECULBRSTPBFAVENCMRNAMMYS
BEN
ZAFCHNBDI
EGYDJILBRRWAPANHKGFJI
CHN
CODPAN
MRT
AUSCOGGINZAFBENCRIGHA
GHAMOZ
GAB
BOLTHA
SEN
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BLZPRYBRACOGMNGCMRGHAUGATHAKENMYSZWECODPHLZMBNGATHACMRPRYMEXPHLGABECUSDN
STPNGA
COGMEXPAKPHLGTM
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PHLDOMBWAHKGETHLBRHKGPHLPRYUGAGHAMWIBLZKOR
BFA
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UGA
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GAB
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CMR
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BLZ
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SLV
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COGZMBPHLHNDSDNCODATGMYSGMBGTM
TUR
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CMR
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SLV
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CRI
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TWNSYRTZASYRZWEZMB
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KEN
SENCMRCOL
NER
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MDGCOG
GHAHNDCOL
HNDMDGCOLIRQIRQSENSDN
GMBGHASENPAKSYRCAFBWATZAPAKRWAIRNPAKTGOSYRDJIGNQBDIBDIGMBDOMGTMBWANER
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GTM
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COMTGO
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JORGNB
TCD
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IRQAGO
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MOZVENGMBJORNER
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JORJOR
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CODGMBJOR
VENCODNERNER
NERNER
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SLESGP
OMNLBNRWAJORGMBLBRCODRWAKHMSWZ
SGP
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LBR
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RWAMWIJORJORJORGNQJORSLEOMN
DJIOMNYEMLBRJORLBR
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LBRSLEGINJOR
JORDJILBRLBROMNGINDJI
OMN
JORDJIMWIDJIMWIGIN
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GNQLBRDJIDJI
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DJIGNQ
RWADJIDJIRWAJORDJIRWAJOR
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-.1 -.05 0 .05 .1Ln(Total Population)
coef = 1.160967, (robust) se = .16883019, t = 6.88
Residuals on ResidualsTotal Emissions and Population
Figure A3: Partial residual plot. Note that the x-axis is different in the two panels of the figure. Thisobscures the difference in slopes, which are listed below each scatter plot. The coefficient on populationis significantly larger. The difference in scales is necessary for visual inspection of the role of outliers.
21
8.3 Results from Balanced Sample
Table A3: Determinants of Carbon Emissions: Balanced Sample
(1) (2) (3) (4)Ln pop. (a) 1.160*** 1.197*** 1.165*** 1.127***
(0.217) (0.210) (0.210) (0.221)
Ln gdppc (b) 0.206*** 0.196*** 0.195*** 0.214***(0.050) (0.051) (0.050) (0.051)
% Age 15-64 0.032*** 0.032*** 0.035***(0.006) (0.006) (0.006)
% Urban 0.005 0.005(0.006) (0.006)
Trade (% of GDP) 0.0005(0.0005)
Year FE Yes Yes Yes YesObservations 2940 2450 2450 2332Countries 49 49 49 48R-Squared 0.09 0.10 0.10 0.11Within R-Squared 0.022 0.030 0.030 0.037P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.464 0.353 0.435 0.568
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
22
SLVNGA
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FIN
ZAFCANBOL
BRANZLSLV
NZLNLD
COL
BELARGMUSJPN
MEX
ISLFRAFINURYAUSGBR
AUT
DNKVENBELAUS
MAR
ZAFGBR
VEN
CANNGA
GBR
ETH
IRLCOLTURITAPRTNZLJPN
EGY
AUS
HND
ESPHND
ISL
BELCOLCANNORARGAUSURYZAFUGASLVNORVEN
KEN
PAN
EGYPRTNZLISL
UGA
AUTJPNPRTTUR
COD
DNK
PHLBRAESPZAFCRI
ZAF
FINMEXUGAAUT
LUX
CHEHNDBELNLDPANARGNOR
COD
GBRISLCRI
JPNCANPRT
ESP
CHEPERCRI
KEN
ITAAUSBOLCAN
TUR
COLUSAIRLAUTNZL
LKA
GBRCHECHEPRT
NOR
CRINZL
JPN
NLDBOLEGYINDEGYJPNGBR
KEN
BOLTHA
SWE
ETH
VENGBRJPNAUSBEL
MARUSAZAFEGYTUR
EGYUGAGBREGYARGDNK
SLVCHE
TTO
CAN
COD
PRT
THA
SWELUXNLDGBR
MUS
VEN
NLDZAFJPNETHNLDAUTBRA
SWE
CHE
LKA
PHLIRLZAF
NLDAUTINDBEL
NOR
AUT
GTM
BOL
SLV
NZL
NZLNLDCRI
VEN
ITA
VENCHE
CRI
ETH
AUT
ITAURY
FIN
ETHARGISLNLDNLDNORARGNOR
CHEPHLPHLINDVENBEL
DNKCOL
FIN
GTMESPIRL
PHL
MEXCHE
BOL
SWECOD
MUS
GTM
AUTZAFGTM
URYCRIESPNLDPRTGBRUSA
HND
EGY
MEXCRIMARMEXMUS
INDSWEETH
THAIRLURYUSANLDFRAGTM
KEN
PRT
COL
ISLCOL
PAN
DNKGTMFRAARGISLUSAIRLITA
PER
BELMAR
TUR
DNKCOLESP
IND
NOR
DNKSWEJPNUSA
BOLETH
NORHNDGBR
CODPHLBEL
BELMEXKEN
URY
MARHNDUGAARGBELITAJPN
SLV
MEXBELNGACOLCHEKENDNKSWENZLGBRIRLNLDVENNLD
CANGBRFIN
GTM
GTMDNKETHCANETH
HNDINDZAF
COD
MUS
NLDNORAUTBEL
ZAF
HND
SWE
DNK
CHEMARVENCODARG
JPNPRT
SWE
JPN
USABELUSAGTMLUXCOLESP
ETH
PRTMUSPHLCHEIND
PER
GTMMEXGTMNLDFRA
HNDCAN
EGY
CHE
SLV
BRA
LKA
UGA
ZAF
PER
NGA
DNKAUT
ITAPANAUSCOL
AUTCANNLDSLVBEL
CHEBOL
COD
FIN
CHEUSADNKMEX
CHE
LKA
LKA
BELZAF
DNK
MEXINDESP
MUS
BRA
PRTCOL
ETH
MUSGBRHNDARGGBRUSAAUSCANGTMMARURY
IND
UGA
CRI
HND
JPNTHAUSASWE
BOL
BELPHL
PAN
ARGARG
UGALKAFIN
CRIITAHND
ZAFIRLNLDBOL
CANNLDBOLPER
CRI
URY
URY
UGANZL
NGA
MUSCOL
GBRNZLBELCANDNK
VENBRAITA
EGY
CANURYNORMARDNKEGY
AUT
AUTEGYCANITA
ZAF
MARINDEGYNZLAUS
DNKPRTUSAGBR
UGA
ISL
IRLJPNDNK
PER
AUT
KEN
FRA
AUSNZLINDZAF
FRA
GBRIRL
BOL
FRAFRASWEMEX
USA
COL
PER
MARNLD
PRT
CAN
URY
ESPFIN
ISL
BRAETHFRA
EGYESP
FINZAFPERSLVGBRUSAGBR
ETH
AUSLUXISLGBRKENTHA
IRL
HNDCOL
EGY
USAEGYCRIAUSSLVGBR
AUTNZLTHAAUS
HNDEGY
PERUSA
NLD
PER
PHLCHE
MEXCHETTO
ITAETHNZLPHLUSA
ETH
MUSPRT
AUS
CHE
ARG
SWEVEN
ESPITAAUT
NZL
ITAHNDGTMAUS
HND
DNK
UGACOLAUT
NGA
GBR
MUS
ZAFCHECOLNLDFRAAUTNOR
ESP
LUX
NZL
PHL
UGANLD
CHE
CHEKEN
BRASWESLV
ETH
COLNOR
ITA
FIN
COLKEN
BOL
KENBRAMEX
SLV
DNK
SWEAUSDNK
URY
CANPRTLKAMARPHLNZLFRASLVBELITA
THA
PAN
NORMEXKENNLDITAESPUGATHAZAF
EGY
BRA
PRTPRTUSAZAFLUX
TURGBRCOL
LKA
COL
ESPBELBRANZLPHL
THA
GTMITAZAFFRABELCOLIRLNLDBRASWELUXZAFBRACHEMEXUSAESPLUXSWE
BELIRL
GTMBELPHL
LUX
PAN
TURUGAFRAESPUSAPERUSA
SLV
DNKMEXSLV
KENGTM
ZAFGTMFRAFRASWECHE
SWELKAZAF
NZL
SWE
INDCANUSAPAN
BELVENUSAUGABEL
KEN
MUS
SWE
SWELKA
IRLSLV
ZAFNLDCOD
LKA
AUSAUS
MAR
ZAFPANNLD
SWEJPNNORSLVMEXAUSFRAESPCANGBRBELAUTGTMNOR
GTMCANAUTCANCRIAUTNLD
SWE
BEL
ZAF
PERCANBELIRLZAFIRL
TTO
FINEGY
SWEFRAFRAAUT
CHE
UGA
FRA
NLD
MARPANBRAFRAPHLNOR
ETH
NGA
BOLSWEITAMEX
EGYUSACANMEXFRA
ITA
NZL
GTMUSASLVNLDFRANZLJPNNGA
BELIND
PRTBELLKA
ETH
NZL
FRA
CRITHA
TUR
DNK
NGA
ARGGBR
GTM
ITAAUT
VEN
FIN
FRA
PHLNZL
ITABELJPNNZLMEXCOLZAFCANAUTPHLCOLFIN
LKA
HNDLKAFINCHEUGA
FIN
PANLUXHNDESPAUTFRAMUSCRI
TTO
HND
USAIRL
ZAF
SLVAUS
CAN
CRI
HNDGTM
JPN
UGA
BOLUSAAUSCANMARCANUSAEGYPHLNGAMARNORIND
NOR
GTMNZL
MUSGTM
ITAINDNLDDNKLKA
HNDFRA
KENFINNZLHND
TTO
GTMIRLGTMGBR
IRL
KENGBRGTMAUSAUTPRT
BOLDNK
HND
BOL
PRTVENISL
UGA
LKACAN
HNDMEXNZLDNKKEN
CANJPNPERPHLFINIRLUSAPER
BOL
MEXCHEAUTAUS
PRT
USAFRAPANCOD
UGA
CRIBEL
CRIISLNLD
FIN
ARGTHAAUT
LKA
LKA
SWE
CHEURY
AUTLUXIND
UGA
VENNORCAN
FRA
LKABELLKA
JPNGTMDNK
TTO
AUSKENUSAAUTZAF
AUTPER
EGY
UGASWEPHLTHABRACRI
NGA
MUS
PER
BOLSWE
NGA
FINPRTISL
CAN
SLVMUSBOLCRI
HNDTURUSA
SLV
FRASWE
FRA
JPNTUR
DNK
BELMEXFRACOLTTOPERMEXCHEETHDNK
BOL
HNDBELFRABOL
PHL
AUSBELUSAJPNIRLCOLAUT
HND
ISL
TTO
THACOLLUX
URY
LKA
ITAFRABRALKACANBELLUX
NOR
COLNZL
KENMEXAUT
NLD
PERBOL
THA
PAN
COLCHECRIMEXPHL
ITA
PRTINDESP
ESP
COD
COLNZL
GTM
URY
INDUSADNK
CHE
HND
FIN
MUS
PAN
COLTUR
HND
ITA
NORTTOUSAFRANLDURYCANFINAUS
AUSITA
NGAPANTTOUGAPRTNLDZAFCRIUGA
ZAFUSAJPNDNK
URY
DNKAUTBRAITAPANIRLMUSNZL
FRA
NORGBRAUT
LKA
MEX
CHE
SWECODZAFETHFRA
PER
MAR
SWE
IRLMUSITAVENPHLFIN
PHLESPPRTMARAUSINDPHLTHATHADNK
PAN
PER
ARGARGPRT
BRA
AUSZAFNLDPRTBRAESPPRTPRTITABRAMEXURYBRA
BRA
AUS
BELGBRITAPRT
DNK
BELCAN
DNK
CAN
IND
UGAGBRCANFINSWEITAAUSKENFRA
CRIBEL
BOL
NZLPAN
SWE
EGYGBRTTOJPN
ISLAUTGBR
GTMUGAMAR
CRI
USAPER
URYPERESPFRA
THA
TTONZLHND
EGYCRI
PERFINGBRSWE
COLNZL
GTM
ESP
PRTITAPERBRA
CHESLVAUTCHE
BOLAUTVEN
SWE
CHEPAN
PHL
FIN
CHEPRTTURITA
DNK
EGY
UGA
LUXDNKLUXESPUSAGTM
HND
THAIND
NGA
MEX
AUS
ITA
PAN
URYUSA
MUS
VENGTM
MUSAUTUSA
NGA
LKA
PANISLGBR
TUR
EGYNGAESPAUTCOLPAN
KEN
BOL
GTMETHFIN
GTM
CHEVENIRLBRAESPNLD
MEX
MEXMUSBOLLUXNGAMEXJPNCHEAUS
PHLKEN
PANAUSLUX
GTM
ZAF
GTM
FINMUSESPPANPER
CHEITATHATHAMARGTMNLDUSA
PRT
KEN
ARG
FRAUGABELTTO
TTOJPN
FRA
ARGFRADNKSWE
IRL
AUT
NOR
PHLCHE
NLDNORSWE
JPNLKANZLINDMEXIRLFRA
MEXNZL
MUS
BEL
PHL
NLDPERBRA
THA
KENBELIRL
SLV
SWE
TURKEN
HND
GTMESPGBRINDTHACRI
LUXAUT
LKAPRTESPAUSINDJPN
CHE
ESP
UGA
AUS
PHLNLD
CRIFINARG
CRI
TURNLDAUT
NOR
PER
UGA
EGY
COLHNDMEXFRA
LUXARGBOL
NOR
TUR
DNK
SWE
THASWETURGTM
ZAF
THAARGAUSNZL
VEN
LKA
LKABOLBRA
ETH
UGAINDCOLIRLIRLINDBRANZLPER
CAN
ITA
JPN
BOLAUSMUS
TTO
HND
ESPIND
TTO
GBRZAF
VENBRA
PRTINDGBR
ESPHND
KEN
INDAUTMEXCANARG
BOL
PERCRICRIPHL
PERBOLPERDNKDNKPRTGTM
LKAPRTCANFINARG
UGA
USAAUS
AUTISL
ESPPHLSWECRI
MAR
VENARGBELTUR
NLD
COLBRAPANCRIESP
URY
TUR
MUS
BOL
ETH
NOR
FIN
USAGTMMARNLDHND
PER
GBRESPCHEMEX
MAR
THA
MEXPRTUSACOLMAR
BOL
SLVITA
PER
MEX
ISL
PRT
HNDHND
COLMUSTTOJPNNORUGACHEMAR
THA
JPN
TURAUS
PANSLVSLVCHE
CRIZAF
CHETHA
URY
NZL
BRA
TTO
PAN
LUX
CRI
PRT
THAPANMARTHA
VENJPNNGA
FIN
ARGTHAUGALKABRA
BRACANINDNORMUS
VEN
INDGTM
MAR
SWE
IND
LKA
ITA
PRT
NOR
ARG
COL
LUXITASLVPHL
LKA
INDITA
IND
ESPKENESP
ITATHACAN
CODHNDPER
COLJPNIRLAUTKENNLDJPNLKALKA
INDCOLESP
FINPANPER
LKANOR
MARJPNTHACODEGYITA
VENLKA
KENNLD
HND
LUX
PANUGA
ISL
BOL
TURAUTTURPRTNZL
TTO
CANVENBOLKENMEXITAZAF
MUS
BOLNZLCRICOLCAN
PRTINDKENPRT
FIN
COLISL
THA
AUTSLV
PANTTO
FIN
KEN
BRAESPISL
ESP
ZAF
COL
ITAPERARGPANKEN
ESP
ESP
GTM
BEL
AUTFIN
VENJPNAUSJPNIRLZAFNZLMEXBRA
NGA
THA
URY
IRL
ISLARG
BOL
CAN
URY
PAN
DNKPERKENNLDPHL
MEX
ETH
PRTPANARGIND
ESPUSAAUSARGFRA
TTOPER
JPNFIN
ETH
NGA
PER
NZL
TTO
ETH
JPN
NLD
TURJPN
BRAPHLISLBRAARG
AUSJPNJPN
EGY
PRTBOL
MEX
ISL
EGY
CHE
PAN
IRL
THA
FIN
IRLETH
LKA
URYTUR
MEX
JPNVENPANVEN
PAN
PANMAR
NGA
THACOLTHACOD
ISL
PANPAN
PRT
PRTETHTHA
VEN
TURPANMARUGANGADNK
THAINDVEN
PHL
ESPNORINDJPNIRLPHLMEXPHL
LKA
ETH
CRIFIN
TTO
PAN
PAN
CRI
ISL
JPNEGYCRINORTHABOL
FIN
BEL
ETH
PANLUXBRAPHL
JPN
JPNSLVFIN
PAN
NGA
CODETHITATURMUSJPN
GBRVENIRLPRTPRT
FIN
THAISLINDARGCRIPHLPHLMEXLUXLKALUX
URY
ISL
LUX
TTOSLVIRLIND
THA
NORESP
ETH
NORJPNPHL
JPN
FINZAF
TTO
PER
ARGISLISLLUX
PAN
ISLTHA
ZAFTHAINDIND
IRL
BRAUGATURURY
PER
MUS
ETH
THAJPN
THAMEX
EGY
COD
PERBRA
BOL
ARGLUXUGAMARNLDTTO
FRA
COD
BRAARGTURTURKENTTOIRL
PHL
ISL
COD
ZAF
COLMARESPJPNCODTURITAETHVENEGY
INDMEX
ISL
ITANZL
CRI
BRA
CODTUR
TTOPHL
ISLTHA
TUR
EGY
NGA
IRL
EGY
TURMARBRA
ESP
IND
IRL
THA
TUR
HNDARG
PER
TTO
THAURYLUX
AUSIRLMUS
MUS
MARETH
PANPERJPNUGA
BRAHNDPHL
THA
IRLURYPHLTTO
NGA
CRIEGYESP
EGYCRIPRTEGYKEN
ISLTUR
VENTURCODBRA
IRLLUXISLNOR
TTOETHURYLUXMAR
ETHCOD
MARPERTURHND
TTO
NORLUX
CODLUXEGYBRACODITAESP
MAR
NGA
URYARGARGPER
ISLTHA
CODARG
UGA
LKALUXMAR
TURUGABRA
PAN
SLVMUSARG
KEN
ETH
PAN
MAR
CODEGYTTO
EGY
NGA
EGYETH
KEN
EGY
ETH
SLVARGISL
TTO
EGYCRI
NOR
MUS
LUXBRATURTURCOD
NORCODNGA
NGA
EGY
TTO
NGA
MAR
VEN
MUS
SLV
UGA
ARG
NGA
NGA
NGATHAMUS
JPN NGASLV
-2-1
01
Ln(T
otal
Em
issi
ons)
-1 -.5 0 .5 1Ln(Output per Capita)
coef = .20557486, (robust) se = .05021612, t = 4.09
Residuals on ResidualsTotal Emissions and GDP Per Capita
IRLIRL
IRL
IRL
TTO
IRL
IRLIRL
IRL
SLV
PRT
IRL
PRTIRLPRTIRL
AUT
PRTNORFIN
PRTAUTCHEBEL
AUTAUTCHEAUTURYPRTAUT
AUT
PRT
URY
CHE
CHE
AUT
GBR
FINIRL
TTOCHEGBR
AUTGBRGBRGBRBEL
IRL
AUT
AUTAUT
AUTAUTURY
BEL
AUT
LUX
BEL
NOR
GBRGBR
DNK
SWE
LUXGBRGBRGBRPRTDNKGBRGBRAUTLUX
BEL
IRLDNKGBRIRLIRLURY
TTO
FINGBRGBRDNK
SWE
FINCHEAUTLUXGBR
BEL
BELLUX
DNK
GBRLUXAUTBELLUXAUTBELPRT
ITAGBRGBRLUXBEL
FIN
SWELUXDNKBELBELBEL
AUT
BEL
GBRPRT
SLVPRTBELSWEPRT
DNK
BELFINIRLLUXSWEGBR
FINSWEAUTBELGBRAUTPRT
PRT
SWEITALUX
NZL
AUTBELAUTSWE
ITA
SWEBEL
URYBEL
TTO
URYBELITA
SWEGBR
SWE
GBRSWEBELDNK
FIN
AUT
ITA
DNKGBRITA
DNKSWEBELPRT
JPNPRT
SWEFINLUXBELITAGBRGBRITA
SWE
ITAURYITASWE
AUT
SWE
FIN
IRLBELBELPRTNZL
ITA
SWEDNKAUT
BELSWE
ITADNKFINITA
BEL
ITAITA
LUX
BELAUTITASWEITABELDNKLUXITAAUTDNKCHENORBELIRLITAPRT
DNKGBR
PRTPRTDNKAUTAUTDNKITABELURY
ITA
GBR
IRLDNK
SWE
FINNORFINLUXPRTGBR
DNKFIN
ITA
URY
DNKDNKNZLIRLPRTITA
SWEBEL
NORGBR
ITA
IRLSWE
AUTAUT
ITA
GBRITAITASWEIRLNOR
PRT
LUX
LUXLUXFINAUT
LUXDNKITA
ESP
GBRBELSWE
DNK
DNKNORPRTSWEPRT
DNKSWEDNK
GBRJPNLUX
TTOSWEDNKITANORNORDNKCHE
NORDNKIRL
BEL
FIN
GBR
IRLGBR
LUX
LUXPRTGBRFRASWE
ITA
BELGBRFRAFIN
DNK
DNKAUTESPJPNNORITA
LUXPRT
DNK
URYJPNNORNORJPNFINLUXFRA
ITAGBR
ITANORNZLBELFINDNKBEL
BEL
ESPFINITANORESPESPGBRDNKESPESPJPNITAPRTAUTDNK
DNKPRTURYESP
ESPESP
FIN
CHE
SWEBELESP
GBRDNKESPITAPRTSWEITA
FRA
SWE
BELGBR
FRA
JPN
URYBELESPJPNBEL
FIN
FRA
ITAGBRFINSWEITACHEITA
NORTTO
NORFINGBRDNKITAESP
FRA
ESPITAIRLLUX
URY
ESPJPNNOR
SLVJPN
NOR
JPN
FRAAUTFRAFINAUT
NOR
GBR
FINITAFRAFRAFRADNKPRT
URYFIN
NOR
BEL
DNK
JPNISL
LUXBEL
ITASWEJPN
BELFINDNKSWE
URYESP
AUTFRANORNLD
SWE
FINNOR
NOR
SWE
DNK
BELJPNSWEAUTESPPRT
ESPFINLUXNORJPN
ESP
TTONORESPNORJPNTTOJPNIRLJPNITAAUTFRAFIN
JPN
NLD
ESPNOR
JPNFIN
CHEFRAITAJPNSWE
FINESP
FRA
CHEFRA
ESP
FIN
URY
FRAPRT
AUT
ESPIRLLUX
FINESP
FRAPRTJPNNLDBELNLD
FRAITANORCHEFRAFIN
JPNSWEITASLV
ESP
JPNAUTFRALUXDNKFRA
TTO
GBR
FINTTO
JPNSWE
TTO
JPNFRADNKFRAJPNFRA
PRT
FIN
FINURYPRT
JPN
SWEFRANLDDNK
NORDNK
FINNORFRATTO
FRA
DNK
FRA
FIN
BELJPNESPNLDPRTNOR
NOR
NORESPIRL
DNK
CHE
DNK
JPN
FIN
ISL
JPN
URY
FRAFIN
FIN
SWE
NLDFIN
CHEIRLLUX
NLDNORCHEPRTAUTNORFRANORNORFIN
DNK
FRASLVNORSLV
CHE
JPNURYPRT
JPN
PRT
ESP
NOR
FRA
URY
DNKITAAUTFINJPNFINUSAESP
NLDURY
AUT
TTO
SWEFRANZL
FIN
SWEIRLPRT
URY
ITAFRA
NOR
NLDNLDPRT
PRTSLVURYURYCHE
FINJPNLKA
URY
URYUSASWEFRA
FRANLDNORURYFRA
AUT
FRAURYCHEURYNLD
FIN
TTOCHENLDFRA
PRT
URYSWE
JPNJPN
FIN
TTOAUT
TTO
BELAUT
TTO
FRALUX
DNK
SWE
PRTJPNSWE
URY
LUXGBRUSASWEUSACHEGBR
URY
FINFRAURYNLD
PRTGBRUSAFINAUTLUXCHEGBRCHENLDGBRTTO
CHENLD
NLDNORTTOFRADNKBELNLDJPNUSAURYGBRTTOBELCHEESP
TTO
SWENLDNZL
NOR
ESPFIN
URY
NLDIRLITASWEJPNAUT
URY
NLDNLDFIN
GBRITACHEBEL
SWENLDURYCHE
NORTTO
BEL
USATTO
URY
NZLGBR
DNK
NLDNLD
NOR
JPNPRTGBR
LKA
USAURY
FRADNK
NLD
BEL
NZL
CHENZL
AUTNLD
TTO
ITASWEURYDNK
NOR
SLV
AUT
NLDTTONZL
ISLESPNLDNLD
DNK
NLDJPNNLDSWE
URY
CHECHETTOLKA
FIN
PRT
TTOGBRJPN
FIN
NLD
CHE
NLDDNKNLDFRACHENLDTTO
ESP
PRTNLDAUTURY
CHEURY
NLDPRTISL
PRT
DNK
NZL
NLDAUTCHE
THAPRT
FIN
DNKNLDITA
FRAFINUSABELUSANZL
URY
GBRESPGBRNLDNLDISL
JPN
MUS
TTO
URY
NLDAUT
URYCAN
LUXNLDESPCHE
GBR
FRAFRA
LKA
TTONLDITAESP
BEL
CHE
FRABEL
MUS
IRL
AUT
NLDBELISLURY
SLV
LKA
ESPISLURYCHETTO
AUTBEL
CHE
AUTUSAAUT
ARGNLDJPN
LKA
USAARG
CHE
NZLNORUSAFRAUSANLDNZLJPNFRA
MUS
ITALUXUSA
ESP
USAITAURYJPNESPNZLNLDNOR
NORNLDSLVMUS
URY
ESPFRAESPJPNMUS
FRA
ESP
CHE
IRL
NLDFRAISLNLDJPNUSAFRANLDMUSESPURYURYCHENLDMUS
THA
CANESPNZLESPNOR
ARGURY
NORSWEURYNLDNLDUSAURY
CHEFRAJPN
CHEUSAARGFRAESPCHE
TTO
USA
URY
CAN
THA
USASWE
URYPRT
ITAITACHE
IRLTTOCHE
FRACANISL
ISLIRLUSA
ISL
NZL
NORNORIRLGBRLUX
MUS
ISLISLNLDAUSCANJPN
MUS
ITACHEISLARGUSAISLUSANLDISLLUXUSACHEURYUSAUSA
TTO
TTO
AUS
TTO
ARGUSA
SLV
CHEUSATHAURY
NOR
CANJPN
ETH
AUS
LUX
THAISL
NLD
CHE
JPN
LUX
ISL
CHE
MUS
NZLMUSCANCANUSAUSAARGCANSWECHEARG
THA
USASLVSLV
LKA
SLV
MUS
ISL
ESP
URY
ISL
CANTHANZLISLSWECAN
LUX
ETH
USAUSAISLCOD
CHE
THAARGUSA
MUS
USA
ZAF
CHEIRL
USA
MUSPRT
ZAF
TTO
ISL
NZL
THAISLJPNLUXMUSMAR
CANUSATTOUSAMUSTHAAUSMUSCAN
SWEAUS
ARGCHECAN
CANCANBRA
LUXCANISLARG
PRTCANMUSISL
CAN
SLV
USA
USA
NGA
NZLJPN
ISLCHE
NOR
MUSARG
MAR
LKAARGMUS
ISL
ETH
LUXAUSJPNPRT
MUS
NORCANUSAAUSJPNUSAUSACANPRTCANINDARG
ARG
BOLLUXJPNUSAMUS
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-2-1
01
Ln(T
otal
Em
issi
ons)
-.03 -.02 -.01 0 .01 .02Ln(Total Population)
coef = 1.1604967, (robust) se = .21737448, t = 5.34
Residuals on ResidualsTotal Emissions and Population
Figure A4: Partial residual plot. Note that the x-axis is different in the two panels of the figure. Thisobscures the difference in slopes, which are listed below each scatter plot. The coefficient on populationis significantly larger. The difference in scales is necessary for visual inspection of the role of outliers.
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Total Emissions Ratio GDP per Capita Emissions Ratio
% Working Age Emissions Population Emission Ratio
Figure A5: Results from the economic-demographic model. All variables are the the ratio of the outcomeof the low fertility scenario over the medium fertility scenario. Panel A (left) plots the main outcomevariables. Panel B (right) decomposes the difference in emissions between sources.
23
8.4 Results from Levels Regression
Table A4: Determinants of Carbon Emissions: Levels Regression
(1) (2) (3) (4) (5)Ln pop. (a) 1.877*** 1.654*** 1.781*** 1.685*** 1.585***
(0.179) (0.209) (0.212) (0.224) (0.248)
Ln gdppc (b) 0.697*** 0.650*** 0.589*** 0.576*** 0.515***(0.098) (0.097) (0.111) (0.114) (0.121)
Ln gdppc squared (c) -0.076** -0.060* -0.056* -0.068*(0.033) (0.032) (0.032) (0.035)
% Age 15-64 0.024** 0.023** 0.024**(0.009) (0.009) (0.009)
% Urban 0.009* 0.010**(0.005) (0.005)
Trade (% of GDP) 0.0006(0.0006)
Country FE Yes Yes Yes Yes Yes
Year FE Yes Yes Yes Yes YesObservations 7291 7291 6581 6581 5840Countries 156 156 153 153 147R-Squared 0.98 0.98 0.98 0.98 0.98Within R-Squared 0.328 0.339 0.336 0.342 0.361P-value: a = b 0.000 0.000 0.000 0.000 0.000P-value: a = 1 0.000 0.002 0.000 0.003 0.019
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
24
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TCD
ZWE
MWICHL
KHMPRY
TWN
MOZ
BWA
MDG
ARG
UGA
MOZ
VENCANESP
IND
IRQJAM
KGZ
URY
ARGARGIRLIRL
CHEPHL
IDNDOM
SLVMAR
UGA
CAF
ROU
INDLUXMUS
GRC
TZA
GNQ
DJI
GRD
UKR
GRD
TCDSLE
SLVZWE
IRL
PAN
AZE
NORROU
COM
NZL
NGANERMEXCOM
ROU
CAFPRYPRYKGZ
LKA
TCD
TGOSLV
CHE
LAOPRY
CPV
CHN
DNKMDG
PAK
GHA
GNQKEN
BDI
CAF
RWA
MDV
NOR
JOR
MOZ
BHS
DOM
NER
GHA
MYS
ARG
LUXHKGIDN
ATG
VNM
MLICRI
SEN
MNG
EGYOMNCAFBOLARGSURGNQ
VNMINDRUSIRQIRL
CHLEGYLBR
VNM
DOM
IRQ
COGUGAISLFRA
ARG
GHAPRYHKGAZE
SDN
SUR
ARG
BHS
MUSESP
GAB
PRY
GRCDJI
BDI
CPV
COD
MAR
PRT
COG
CHLCANVEN
TGO
GHABOL
LBR
BRA
JORMDG
ZWE
PRY
PRYETHMLI
URY
GRC
ARG
TZA
BOLTJKCHELKAGHA
IRQ
FRATZA
BHS
AGOGHALKA
CHL
CMR
TZAPAK
CHN
BOLBOL
MOZ
ISL
BOLTZATUNCHEBLZ
NERMEX
TCD
MAR
NERPOL
LKA
NER
ZWE
KEN
DOM
KNA
CHL
VCT
GNQ
BDIPRY
GRD
CHLAZE
ARG
BRAGHANZLGHA
BELGBR
IRL
ESP
CPVBLZ
JORKAZ
BRB
JAM
UGA
ARGBLZ
GAB
KENKEN
DJI
NORPRY
CHN
MRT
TURSYRGRD
ARG
HUN
CPV
JPN
KGZIRL
VEN
HKG
IND
NZL
SWE
CMR
VNM
MOZ
RUS
KEN
VENSUR
BDI
ITAGRC
NORCOMUKR
TGOPAN
KENIDNCHLUGA
ETH
ETH
IRQ
GRD
CPV
KOR
ETH
ITA
DNK
ARGSGPGNB
COM
GRC
BOLUKRIRLNGACHN
MWI
NOR
BGRCAF
TJK
NER
ARG
MDADJICHN
SURSLV
JAM
CAF
LBR
LKADOM
KHM
BLZTTO
CPV
MAR
ESPBDI
CHN
ETH
LBNLKAMEX
KGZBGRINDJAM
TCD
BLZ
MYSTJKBDI
MAR
IDN
SLV
URY
POL
CHE
GNB
CAN
TCD
ESPAGO
SWZ
OMNCOM
THA
COM
RWASEN
DJI
ARG
MWISENUKR
MOZISL
TCD
IRLTGO
NOR
LUXMDGJOR
TURNOR
USA
DJI
ISL
MAR
GRC
GHAGHAJORBOL
VNM
ARGKEN
LKA
RUS
CHECOM
IDN
GNBGHABLZ
CPV
JAMMEX
ESP
PAN
INDKGZKAZ
THAJOR
IRQLAO
ARGRUS
NER
FJI
HUN
MLI
IRL
GNBURYGRDTURTHAESP
MLIRWABDIMLI
KHMMAR
CMR
LUXIRL
SWE
ZWEBLZNOR
PAK
ZWE
KENLBR
GHAMARMDG
BOL
TWNTZAKNAPAK
JORBOLETHLUX
SWE
VNMCHL
ROUBLZ
BGRCHE
ETH
TWNUSAIDNDNK
JOR
BHS
PAK
FINBGR
LAO
MAR
SDN
SYR
GBR
HKG
BRBPRY
PHLARGHNDBOLCAFPHLCHNPRYFJIKGZCMRLKA
KHM
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STP
CMRTWN
GHA
CHLVENDJI
JAM
CHE
NOR
MDA
GHANOR
BDI
FRAURY
GNQMYSPAK
GRC
YEM
IND
MUSPERPERTUR
JAM
BDI
GRD
GNB
ITAJOR
MEXEGY
PHLTKMKAZSTPARG
NER
TGO
ESP
LKA
ZAFGBRIND
ZWE
MDV
ATG
PHL
JAM
BRB
KNA
MOZ
FINDEUNPL
ITA
BRBNOR
GRC
CZE
CHNSWEPRT
PAN
COM
TUR
POLJAMNOR
ITA
AGO
IRQRWA
KHM
ITAMAR
NOR
VEN
GNB
FJI
BTN
RUS
PAK
IRN
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ALB
PRT
NPLCHN
ISL
TUR
AGO
RWAURY
LKA
TCDMYSMYSMOZ
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DOM
EGYSURZAF
MDA
GEOSTPNORAGO
LKAPHLSWZ
NZL
ISL
NOR
NPL
KEN
GNB
NOR
ITA
UGA
LUX
ITA
ESP
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GHABLZCHECMRBRBBLZNOR
LKA
GRC
KGZGHABLZ
CHETURIRN
CPV
CHLKGZ
KGZ
PHL
HUN
SGP
BHS
VEN
TGO
CMR
IRQBGRIRLHNDGHA
DOM
IRL
DOMCMRCMRVNM
KNA
LBNLUX
PER
NPL
STP
DJIPRTDOMKAZ
LKA
LUX
VNM
BRASTP
PHLPHLPHL
AUT
ALB
PRT
NOR
MUS
IRL
VENGNB
PRY
CHLVNMITATURBWA
ATG
KNA
GEOGHA
URY
PHLTGOMEXCMRBGROMNVEN
OMN
IRLDEUHUN
JOR
TGO
LKAGRDALBTUR
ALB
ATG
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MEX
GBR
ARG
ZMB
FRA
MDV
TCD
BEN
DJICHEURY
PHL
OMN
STPPHL
MYSETHIRQIDN
BDIKHM
NOR
AUT
NOR
MYS
IRL
IRLCMR
IND
CMR
LAO
MNG
GBR
AGO
VNM
LKAITA
MDG
RUSSVN
BGR
BHS
IND
PRTVCT
MUS
BENCRI
PAK
LKA
NZLPRT
GRD
PRY
LKADOMLCA
ARGTZA
BEN
COL
AGOSENMDG
OMN
DMA
TURPRTCHETHA
CHN
CRISTP
VNM
PHL
TUN
HND
PRT
GHAMDGMOZ
MUS
PHLSENBRB
PRTFRABFAPER
ETH
SWE
AGO
NPL
CAF
BTN
GNB
COLNGA
BEL
ZMB
MAR
ZWE
SENTJKBELNPLGNBITATGO
MLI
MRT
VCT
INDBEN
PRT
MLISWZ
CRI
BHS
ETH
NLD
BRB
CANCPV
UKRNORBLZGNBCRIBGR
ATG
BGRMDA
GAB
ZMB
NOR
CHEIRL
SWZSWZ
NPL
PHLMEX
BGD
ARG
MEX
PRT
GRDIDN
ITA
LCAGBRNLDPRY
NER
BDIMNG
ZAF
ZMB
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FJIHNDIRN
ZMB
ISL
COL
ESPDOM
IRLETH
BENNOR
LCA
ITA
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BFA
ARM
MDG
IRQJAM
GBR
JAMATG
PHL
NER
CRI
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SYR
CMR
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SURSURMOZMARPHL
MDGGINBHS
SWZ
CZE
IRQ
GAB
SYR
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BRBGEO
BGR
NPL
KENCOM
DJI
BLZUKRJAM
SDN
DNK
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MDGGBRCHEBGR
COLBENGMB
COLPHLMUS
MUS
MYSPRTCRI
BHS
TUR
ROUMEX
MDGGNBALBKGZ
PRT
ISL
PRYALB
LKA
CMR
MAR
IRLYEM
GRD
BGRALBPRT
JAM
POL
GBRKORNOR
BOL
PRY
PER
ARG
VNM
MUS
SVN
MUS
MAR
KEN
SWZ
ALB
MWI
GBR
POL
MLI
PER
YEM
MLISWZTKMHND
GBR
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ZAF
SURNOR
ATG
MUS
FIN
ZAFTUN
BHS
ISL
KGZDJI
ARG
BGD
NPL
COL
ZAFBGR
PHL
CMR
BLZ
ECU
VNM
ZWE
IND
COL
DOM
TZA
TGO
BENSDNMRT
LCA
GMBHND
MDG
NORMLI
BHS
MEX
TZAVNMZAFBELZAFBEL
MYSUSA
POL
FRACOL
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VCT
MUSDOM
MUS
ARG
MRT
DOM
ARM
MWI
GHAMEXCHN
TGO
NZL
KEN
MDADOM
CHEZAFNOR
ZAF
ARG
COL
MNGBEN
VCT
POL
ISL
ALB
COL
URY
BFASTPITAMNGGHA
DMA
MRT
SLE
GHACHEGRC
TCD
BHS
GEO
ITA
IDNBLR
ESP
TZA
CPV
LCA
BHS
VNM
STP
MUS
MLI
JOR
BDI
NORLUXVENLCADNK
BHS
NZL
BOL
DOMBELGHA
STPSTP
MARLKA
ZAFGEOLUX
PHL
CAN
BLRIDNURY
LTU
TURKAZCRI
TUNCHL
BOLCOL
TKMSWE
TCD
SWZ
BENTWNPOLCHLMDGMYS
VCT
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ISL
AUTBFANGACHECZE
ZAF
CPVTGO
GMB
COL
GBRFIN
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MARCRI
ECUZAFECU
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BLR
CPV
MAR
DMA
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COLSTPCOMITA
DOM
OMN
COL
DMA
BHS
AGO
LAO
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IRLCHE
MRT
GBR
COL
OMN
DMA
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SDN
HUN
BGD
KHMTUR
GMBBDI
BEL
FJI
FJI
ALB
ZAF
HUN
AGO
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MARPRY
MEX
ESPAUT
MLI
TZA
MYSSWE
STP
GRD
RWABEL
ITAITAIRLITA
DMA
SWE
HUN
MARNGAHUN
BOL
COD
LCA
NZL
ITA
LKAIDNOMN
ATG
LCA
FJIBLR
LBN
RUS
NZL
MAR
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LKA
ECU
SDNBRBRUSBELAUS
JAM
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BOL
GBR
BFABLZ
SDN
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COLECU
TGO
COLSEN
LCA
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NLDCPV
ECULKA
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KOR
LTU
NPLBGD
LCA
FIN
BEN
NZL
PRYGHA
IRN
SWE
HRV
BEL
KEN
GHAPRY
BOLZWE
CRIUZB
SWE
THA
ISL
ALB
SWZ
MUSLKA
IRN
DMA
BLR
MLIBENAUTCHEDEUIRQSDNDNKAGOMLIGBR
MAR
NLDESP
GBRRUS
COLBGDLKA
AUTTZACHEARG
SDN
UGA
KNABGD
CMRTUR
USA
ISL
MEXSWE
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MOZ
ZAF
POL
VCT
CHE
OMN
PRT
BFA
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MLI
GNB
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LUXLTU
COLMUS
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MARHUN
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STP
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NPL
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IRN
CRI
KEN
GHA
MOZ
LAO
BGRCPV
GHASWELAO
DNK
NPL
MRTPRT
NOR
DMA
ATGFIN
COL
HUNFJIAUTIRL
COL
KNA
VCT
FRA
MRT
JORHNDTKMARM
KNA
GRCPER
GAB
NZLCOLECUNLDGEOBFA
MRT
SWE
UGA
SEN
VCT
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FINCHE
MRT
MUSROU
VCT
BOL
NZLDOM
NOR
MYS
MOZ
SWETUR
LVA
RWA
AGO
LBN
PER
BHSURYTURLCAHKG
GABPER
CRI
COL
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GTM
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NLDDNKBTNSWEZMBSTP
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BEN
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BRB
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BOL
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PRY
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LKA
CMR
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MLI
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CZENZLAGONLDUKR
MLI
ALB
BHS
MRT
BOL
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TUNESPBFA
COL
ESP
MUS
ZMB
SWZ
GRD
THASWEBEL
CPV
GBR
TCD
GTM
BHS
NPL
ECU
ISL
AGO
CHECAFLKAPOL
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ETH
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HNDBLR
BOL
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HUN
NZL
IRLCHE
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IND
VCT
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MRT
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SWE
LAO
LVA
BGD
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ITATKM
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SWZDNK
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AUS
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MUS
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KNA
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MYS
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GRD
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BOL
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BEN
SWE
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MYS
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SEN
CAN
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CAF
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KAZ
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ITA
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DMA
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KHM
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GEO
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BRB
GBR
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LUX
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TCD
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ARG
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BOL
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ARG
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BRBBLR
PER
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MDADMA
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ARG
AUT
DMA
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ARG
BGD
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FRA
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IND
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NAM
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POLIRQ
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IND
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GTM
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HKG
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HUN
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POL
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ETH
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LUX
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CHN
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ESP
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PRT
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MAR
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MUS
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GBR
NAM
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DMA
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PRY
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ETH
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DMA
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CAN
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DMA
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DMA
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MOZ
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FRA
GMB
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BHS
ATG
ZAFDMANORMDA
CAN
JORTUR
MUS
BFA
GIN
TGO
PER
FRA
LVA
USA
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KNAMUS
PAKDOM
BTN
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AUT
BHS
ZAF
CANBGDUSALVAUSA
MKDMDGCANAUS
KNA
USA
BTN
MDG
IDN
CANPER
ARMBLRNZLAUSSENNAMECU
BHS
ISL
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CHL
SVK
FRA
MAR
LSO
GRCBLRAUSMAR
USA
NZL
ESPPHL
VEN
AUT
AUS
FRA
BTN
BDIBEN
CAN
ECU
GTMBWABOLURYAUSAUS
BFA
CANIDN
PER
FRA
AUT
BTN
KEN
CAN
ETHGINDNKNLDETHBIHFIN
MWICPV
ARGESP
LCA
TJKPER
ARG
CMR
CANGTMPANIDNOMN
MRT
AUT
SGPFRA
VCT
ESPPRTMDG
RWA
JPN
LTUGTMHUNTHA
GBR
MWI
PER
DMA
ZAF
ZAFHUNUSA
FJIFIN
IDN
BEN
HKG
USA
GAB
LUX
ROUBGD
ECUIDN
HRV
FRA
HUNLCAAUT
FINLBNUSAHND
GMB
GTMCAN
CAF
DNKFRA
FIN
PERBFAPHL
FINBRBLSOFINCOM
AUS
LUXECU
MEXAUT
LVAMYS
USABRB
FRATURLVABGD
IND
CANHNDPANHNDBTNTGO
UGA
FRA
MYS
LUX
IDN
IDN
AUTSWE
PER
MYSGBR
VCT
SVNGEOSENPOLCRI
CMR
SRBFINCAN
LVAROU
NLD
FRA
GTM
LUX
MKD
MWIHND
ROUCRI
AUS
PRT
SDNSVN
BGDBEN
NAM
PRT
UGA
BRB
LUX
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JAM
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ECU
GTM
BGD
GINKNACZEHUNBEL
FJI
OMNINDGMBZWE
GIN
NLDJOR
RWA
BTN
MRT
MOZ
ROU
DMA
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UGA
LAO
IDN
CHL
KEN
PRT
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KHM
KEN
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ROU
CRILVAHNDNZL
VCT
OMN
PAN
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ESTAUT
NPL
LCA
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CRI
UGA
NZL
FRA
OMN
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IRL
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RWA
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MEX
TUNSDNNAM
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VCT
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RWALAO
EST
USA
GTM
ESTPOL
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BHS
HNDDJIHRVUSA
USA
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BEN
USA
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NLDTJKTKM
GMB
MEXISLJORHNDATGISLCAN
FRA
CAFGMBBGD
HNDNAMAUTFINHUN
ECUNLDPHLDNKITA
SGP
BRB
AUT
IDN
COMISLZAF
TUNPERCOL
FIN
NZLSVKPAK
KNACANRUSATGMDV
HNDPAK
GAB
PAK
LUX
CAN
ESP
IRL
POL
DNKMEXDNK
PRT
ESP
COG
CAN
NLD
ROU
PAK
IDN
KNAHUN
MNG
MRT
OMNAUT
SLV
EST
LAO
TUNARMLVA
PAK
LKAPHLMLI
UGA
KHM
PAKCOD
DMA
USA
KHM
DMA
CRILCAGININD
MWI
MDGSVNPAKAUT
RWA
SVNCANAUS
RWA
ROU
FRAPERLCA
UGA
ATGUKR
SWE
PER
UGA
FRATCDGRD
LKABGDMNG
FIN
MEXARM
NPL
CRI
LUX
BTN
PER
BRB
HND
DEUHUNTURMYS
CHLOMN
IND
BRB
PHLGNB
JOR
IDN
MEXNPL
BTN
CHLNLD
CMRTGOAUT
STPCANFRA
MUS
CANFIN
FIN
BFA
DOMCANNAMECU
FINKENSVK
GIN
GNB
SVKPAK
CANBGD
AUT
SDN
MEXLVA
ITAINDHRVTUR
PAN
HND
ESPSVNCHEEST
GAB
POL
MDG
VEN
FINNLDNAM
MKDMUSHKG
HND
FRA
ARMROUBEN
FIN
SVNDEUAGO
BEN
GINGTM
LUX
TZA
KNA
LUX
PRY
GMBFJIMDGBLZPOL
LKA
BGRTUN
BEN
FIN
HND
MNGGRC
UGA
GTM
NAMMYS
FJIPRT
SWE
CRIINDAUSIND
TTO
SVNCZE
RWA
VCT
HRV
BHS
BLZ
SGP
NORTUN
URY
MAR
BEN
PRTGTMTUR
BHS
AUTIND
ETHETHNPLSVKHNDHRVGTMNLDFRA
HKGRWALCA
HRVDJI
SEN
HNDECU
MWIBHS
BELMEX
PERMYS
LVA
MLI
KHM
ATGAUSAUT
HRV
GAB
MEX
LKAKENAUT
KEN
ARMAUS
ZAF
GRDDEUVCT
POL
ETH
BRBUSA
FINFIN
USA
PAN
NLDGRC
ZWE
ZAFSGPAUT
UGA
GNBCANPAK
GMBDOM
IDN
MAR
MWIKEN
NLD
PER
RUSCHL
ECUAUSDNKNAM
ECU
NLDPRTAUSESTPRTZAFCHLMKD
BELMDGCMR
PER
MNEBEN
PER
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GRC
DMAMWI
AUTKAZNLD
LAO
NLDAUSIRL
ETH
USA
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JOR
MUS
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NPL
HND
GRCGBRSVN
ETHPRYBLZAUSSVK
FIN
GRC
TURAUS
BRB
ZMB
BDI
ISLTKM
TJKISL
BGRUSACAN
JORNLD
LKALUX
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ESTFINZMBGINCHL
GNBESP
NPL
PRT
NPL
IRLKGZAUTCAF
VCT
CAF
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SVKARM
GRC
FINDMABGDSWE
KEN
ATG
GHA
AGO
BEN
KEN
TUN
DJIECU
URYGHANLDFRANZLLVA
FIN
UKR
KNA
PAK
CANJPNCHLAUSECU
YEM
GRCFRATCD
DMADMACOG
GRCURYMYSZAF
NZL
GTMMUSIRLHRVGTMSWE
NLD
AUSVCTTGOTUNTWN
BHS
CMR
FJI
LCA
PHL
CANBEL
AUS
SLE
IRLATG
UGA
PHL
DEUAUTBELDEUECU
MOZ
MLIGTM
ZAF
MWI
HUN
PAK
LTUIRN
GINMDGZMBNLDKENTUR
FIN
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LTUIDN
SRBTHACAN
LKAMLI
HND
PAN
PAK
CRIMYSLTU
TCD
ETHDMA
BEL
MWIALB
CMR
MUS
LKAHNDKAZPERECU
GTMNLDHKGJORCHN
BDI
NLDNLDGMBDEUDMACHL
AUT
AGO
MNG
RWA
NLDMEXCOGZAF
ISL
USA
NLDAUTBEL
POL
GTM
RWA
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IRN
IDN
BLZETH
CAFFINDEUCAFCAN
ESPPRY
HND
DMA
HND
CHNSDNSLEBGRCANPOLSENSYRCMR
SGP
BOLIRLAUSBEL
SLV
MWI
KNA
DNKFIN
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ZAFESP
SYR
COD
CRI
ESP
SWE
MEXBLRMEXECUTJK
DMA
MEXESTATGGMBLVA
UGA
TURZAF
BELKNAATGHNDGNB
PRT
VNM
CHN
OMNCHL
GRC
LTU
GRC
BEL
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ISL
DNKNLDMDG
OMN
ESPPRYCRIDNKSVK
PERPER
LTUMRTJOR
POL
FINITA
IDN
NAM
RWA
CHL
SWE
AUT
MOZUGA
CMR
CMRBTN
PRTCOMJOR
COG
CMRTUR
LAO
GAB
BHS
FIN
MEXCAFSVN
GMBHNDGINBLZLTUNLDCHLZWEMNG
COGGNBCHLHRVCHL
NPL
JORMRT
MWI
ECUIND
MLI
CMR
IDN
HKG
KHM
DNKAUTSUR
BFA
COLMYSPHL
MWI
MEX
NER
CAN
SVNLTUCRICOD
BLZ
ECU
GRCAUTGTMCAF
VCT
GAB
GTM
KNA
FINGIN
FIN
DOM
MRT
BDI
TUR
POLNER
SWE
IND
DEUAUTSDN
ZAFAUSAUT
TUR
MDG
LCA
LTU
GRCBGR
PERPAN
CRIMRTISL
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POL
BEL
MLI
BEL
GMBGTMDMA
TCD
NPL
FIN
GIN
UGA
EST
SDNHNDISL
GRD
DEUUGA
ETHETH
SURGTMHUN
COD
PRTMNG
CZE
PERMDGMWI
GRC
HKGNLDTURNLD
KEN
MWIECU
VCT
COG
CANISLDOM
ETH
ZAF
AUTCOLPOL
CRIITARUS
MOZ
KORAUTESPSURITACHL
AUS
ITA
PER
ZAFHNDGRCUKR
UGA
AUS
BGDNLDDNK
IND
BFA
INDPERBENMEXNLDMRTMRT
NPL
ETH
NPL
ARGDMA
SDN
JPN
GRD
MOZ
GNBBOL
ROUBLZ
AUTCOMBELZAFESTNLD
KHM
LKALKA
CANPRTSTP
ROUPAK
POL
AUT
IND
ISL
BLZ
CHLFIN
MOZ
CHL
MKDHND
ZAF
SWE
ISL
LCA
BTN
MOZ
ESPAUSIRQCAN
MDVIDNURYSVN
SLEBFA
ATG
ITAURYMWIHKGURY
BRB
GRC
ATG
BEL
DMAESPCRI
DMAPRYGRCGTMETH
PAN
CHL
MEX
CMR
ESP
DEU
INDZAF
USABEL
NZL
MOZ
GTMMEXIND
ECU
PAKMDAFRA
GINGIN
CRIBELEGYMRT
LCATUR
MEX
ROU
SENHKGGTM
BGD
TURMOZ
KNA
IDN
GBRBELZWESUR
SLV
ESPTUN
MDGBELNZL
BLZ
SDN
RWA
FJI
LVASEN
UGALCA
BGDBRACOLHKGBDI
FRA
MRTBENPOL
PAK
ETHTHA
ECU
DEULKANZLATG
ITACOLGEO
MRTBRB
MLI
CRICOLMLI
SLE
TUR
ETH
GINPAK
BFACRINLDTUNMAR
BLZ
BEL
PER
PRTOMNDMA
UGABRB
AUSGINMEXGMBSWZPRT
CHL
ZAF
VEN
KEN
CZEMEXISL
POL
CRITWN
HUNINDSWE
TZA
TTO
MOZ
COL
TUR
COL
ITA
GNB
PAKGBRPRT
MLI
PRY
COLZAFITA
COM
PAKGEOGINBFABENSUR
BDI
LTU
NLDGRC
JPNDMABGDCHL
LUX
HUNGHAATGPRY
BDIUZB
CHL
MNG
BEL
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SLE
BRAGNB
ISL
KHM
NPL
NPL
ECU
BFA
BLRCODPHL
PAN
TUR
GRD
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LUXGRD
BEN
CRI
PRT
SEN
BEL
CAF
ZAFTUR
HNDESPCRI
SWE
HND
CRI
BDICHL
COL
GRC
BFA
NERESP
RWA
SLE
BEN
BEN
TUNESPJORMYSITA
GRC
SLV
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ATGPAKDOM
KNA
BDI
GRC
IDNMWI
MYS
MOZ
MRT
MUS
KENZAFGRC
PRT
TGO
ETH
GMBUKRMNEMAR
MWI
GRC
CHLGMBKEN
DNK
DNK
VCT
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ZAF
COM
ALB
LKA
BFAJPN
MUS
DOM
FIN
CHLMDG
BDIATG
GIN
MWI
GINARMCOL
MYS
ALB
HNDNZLALB
KAZCZE
DNKDJI
MLI
KHM
BGD
TURBRB
RUS
MWIPANMLI
NPL
SEN
PRT
HND
IND
MRT
VNM
NPL
BRB
MOZ
AGO
POLRWACHN
ECUINDBGD
LUX
SGP
SEN
AGO
FJI
ALB
COL
TUNMWI
GNB
HUNSTP
ISL
ATG
HNDETH
TUR
BLRBELZAFHUNCPVSLE
ETH
BFAPRYBRA
BDI
BFA
MYSUSAURY
MEX
IND
GRC
ISL
FRA
SLEGBR
BDIKEN
NZLGRC
CRIIRNMWIPAK
SLE
CODLBNMAR
JAM
MOZ
DOMDNK
SWZ
GRD
CPV
BDICOD
FJI
LKA
GRD
PAK
ALB
PRYDNK
LKA
GNQ
USA
DNK
GRCVCTGINIRQGRDBFA
GMB
ITAITA
PHL
BRA
LCA
ISL
CPV
GRD
GINBGRMLI
MYS
PAN
TZA
COG
UGA
LUX
GEO
VCT
FRACOLHUNGRDNZLJORIND
FRA
JORZAF
FRANZLDNKBEN
ZAFPRTSGP
PAKSURFRATUNMNG
PAN
TTO
GAB
GRD
SGP
TUN
SLV
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MOZ
VCTPRY
MOZ
PRY
BRB
PRY
BDI
ROU
LKA
LUX
GRCMAR
COG
ZAFGTM
MNGDNK
GAB
CRIKORPRY
UGA
DNKTURJORNZLPRT
MOZ
TWN
DNK
TURCHLSLEBDI
BRBPOL
PHLGTM
MOZ
BLZ
SWEPRY
ESP
UGA
OMN
SLE
BDI
BFA
RWA
DNK
COL
MYS
GRCDNK
MYS
ESP
MLI
ROU
SLE
KEN
IRL
AGO
SGP
HNDBGDPRYISL
TUR
SWE
MYSESP
LUX
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MEXMUSETH
COLITACOD
ETH
CHETGO
OMN
FJI
PHLFJI
COG
MYSSLE
ZMB
SWE
ECU
PRT
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NPL
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BELTUR
GRC
OMN
COL
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BEN
MYSBFA
BENBDI
GBR
IRN
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MNG
MRT
CHN
MOZ
BTN
HUN
NERMWI
RWA
USA
ITACHE
MOZ
DOM
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IND
ALB
LKA
LKA
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SWE
MOZ
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SLV
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TCD
PRY
POL
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IRLATG
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DNK
BOL
CZEIRN
SLE
MUS
LCA
COMZMB
TCDMNG
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CHL
NPL
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POL
MDGSWE
COL
LUX
LCATUR
PER
PAN
USA
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COG
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TCD
OMN
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MOZ
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HUNMOZ
COM
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KEN
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LBN
HKG
ISL
TUR
COL
IRN
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GMB
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CHL
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MNG
CAF
ECU
GRD
TGOBRA
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BENFJIISL
SWE
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VEN
BOL
TUN
ETHCHLDJIMLI
GRC
LAO
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SEN
SGP
ATG
SLV
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LUX
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MWI
GEO
TJKCOM
DMA
PHL
MRTVNM
JOR
ECU
ISLAGO
ITACRIARM
MOZGBR
VEN
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GRC
ITA
PRTALBECU
MLI
POL
NZL
MYS
PHLARG
PRT
SUR
BOL
MOZ
LUX
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KEN
FRAOMN
ATG
TCD
BOL
MOZ
FRA
MOZ
MOZ
MARMRT
TURITA
GAB
SENHND
SGP
ROUITA
ALB
BEN
KNAALB
BRABGR
BFAHKGESPNZLGNB
GBR
COMITACHEVCTTUN
COM
NERMUS
KEN
ISL
CZE
VCT
UGA
SGP
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DJI
PANGNB
SWE
ITA
FJI
DOMMYSLCA
GNB
CHE
BOLSENKEN
ALBJOR
USA
VEN
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IDNCHLESPCOMMEXBRA
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ALB
GIN
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ROU
CHE
NZL
BGRTUR
TTONER
NZL
COL
SGP
BOL
SLEGINPRTBDI
COLFJIMUSTGO
NZL
KENBLZ
GBR
FJI
TCD
STPITASWEOMN
MWI
KEN
JORALBMLI
KHM
DOM
SLEPHLTGOMWI
ZWE
LAO
VCT
LUX
SLE
SUR
GINUZB
MDA
DOM
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ATGZMBCHNESPTURCHECHNJPN
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GRC
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DJI
TCD
COL
COM
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CMR
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KHM
TUN
BRB
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OMN
PRT
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SWZ
COM
PAN
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HUNJOR
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CRICOM
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GRC
HKGNZL
PRY
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PHL
TCD
MLI
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CHE
KEN
SLE
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MDG
GHACOD
JAM
KHM
ETH
RUSIRQ
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DOM
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MYS
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JOR
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ROU
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THA
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VEN
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IRNCHE
MOZ
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MWI
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BLZESP
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SWZ
JPN
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GNB
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MWI
MDV
KENCMR
BDI
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BDIIRNMDG
MEXNER
NZL
TGOBGRIRQ
ESPTUN
ROU
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TWN
MDV
TCDGHA
SGP
IRL
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TTO
MYS
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GRCESP
BRB
VEN
PAN
PRY
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SGP
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SLE
TKM
STP
CHE
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TUR
STP
HUN
BOL
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CMR
SEN
COMIRN
KEN
SEN
LKACOGSGP
SLE
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PRYBRA
MLI
PRY
STP
FJIBRA
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MEXCODTGO
VNM
AZE
DNK
BEL
ETH
CMR
TGO
STP
BEL
COG
NGA
LCA
TZA
RWA
MYSTHA
NPL
BDILCA
CAFSWE
BRB
IDN
SLE
GRCLKA
FJI
SLE
TCD
CHE
ETH
MDG
THA
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BRA
UGAMDGBLZ
SYRCMR
MDG
TGOCRI
GBR
GHA
LUX
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ARGTTO
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ISL
CPV
SLE
SURGHAMRT
SGPOMN
JPN
ISL
CHEETHGIN
TCD
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SUR
JPN
PRT
MOZ
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ALB
KGZ
CHEIND
COM
PRT
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COM
CHE
THA
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COM
ROU
SUR
VNM
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BEL
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SGP
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JPN
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MLI
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BLZ
RWASLE
IRQ
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MDA
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LKA
BRAPRY
PHL
ALB
MARCOLEGY
LUX
PRY
CHE
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SGP
SLE
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OMN
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BGR
MUS
TTO
UGA
TZA
TZA
BTN
SWE
PER
PRT
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LAO
LAO
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TWN
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NOR
PRYGBR
MLIIRNJPN
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STP
VNMETH
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NGA
SUR
SLE
MYS
SUR
TCD
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PAN
JPN
BIH
ZMB
LKA
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ETH
NORSYR
VEN
UGAPRTMDV
INDLAO
PHL
THA
LUX
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GRDGNB
SYRJORCOG
RWA
IDN
MNG
IDN
DOM
NOR
URYTUNNER
VEN
JPN
ROULKA
TZA
MAR
CHN
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GAB
BIH
BRATCD
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TGO
ARG
LAO
RWA
DOM
PHL
KOR
BRASUR
MOZ
GAB
LBNBOL
MRTIRN
MDG
STPFJI
VEN
GRD
IRN
SURHKG
ARG
IRNCOMBRA
BGRROU
PAN
SEN
GAB
KHM
LAO
SUR
GRD
PER
BENISL
BIHMYS
OMN
HKGSUR
MLI
BGRUGAMUS
JPN
PRYGNB
GBR
ETHSYRCOMTUNUKRJOR
IRNBRA
KEN
BIH
ARG
ROUNER
SLE
BRALBN
GNBJAM
TZA
ROUCOGCAF
COGPAN
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MOZ
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TCD
ROU
JOR
DOMJOR
SLV
MYS
SLV
LAO
TTO
BWAROU
GHA
JORSGP
TZASLVLBNMWI
STP
MEX
RWA
JOR
MARMEXNERNORJPNTKM
ROUUGA
BLZ
PRYPRYCAF
TUNLAO
ARGBLZPHL
VENVNM
FJIJPN
GIN
IRLSDN
PANCMR
LUX
TCD
SLV
JAM
FJI
SURPAN
BTN
MUS
TTORUS
LUX
COGUGA
SLVPAN
BIH
RWA
IRNSLE
DOM
NPL
TGO
DJI
MUSROUROU
JPNGNB
GBRVEN
SYR
HKG
VENZMB
NOR
TTO
SLV
COM
BLZ
SUR
NGA
SLE
VNM
COM
GAB
BGR
MDV
NPLTZA
ARG
BIH
BTN
STP
ZMBLKA
MLIPAN
COD
SYR
LAO
LAO
NGA
MDG
SYR
LAO
SLV
INDVNM
CMR
GABBIH
BRACOMCOGCOD
PAN
SENCHN
GAB
VEN
SWZ
TZA
MUS
LKA
GAB
LKA
SLE
UGA
IDN
LBN
MDA
HKG
SYR
LAO
MNG
AGOBGRJORGRDDOMHKG
SLV
IRN
SLV
IRQMAR
COD
EGYBOL
VENLAO
TTO
URYLKA
VEN
COG
VNMRWA
SYRNOR
GABVEN
GNQFJI
GBR
TZATZA
KHM
MAR
GIN
COGCPV
TGO
JOR
LAO
OMN
COGHKGTHAMEXMAR
ARGJAM
BIHCODTTOJPNVEN
SWZ
SLVSLV
SLV
IRL
SYR
JPNZWE
SLVARG
TZA
NERSDNSURFJITUNDOM
MDA
IRN
NPL
SLV
SLE
HKG
CPV
LBN
MDV
SLV
BTN
HKGPAN
LKA
TTO
GHA
SLVSLVSLV
TCDMLIBRA
GRD
SLV
HKG
COG
BWA
COG
ARG
HKGIRQ
GBR
CPV
SLV
CODTWNJAM
COGTTOSDNIND
MAR
NER
RWAGBR
PANZWESLVLBR
LUX
SDNTUN
VEN
IRQ
SWZ
COG
TZA
LAO
SLV
HKGJPNSLV
TTO
JAM
NORSLVMARYEM
TCDSENJPNCOD
JPNMDGCOD
LBR
BIH
NER
CAF
VEN
IRLSLVSLV
BTN
JPN
BLR
COG
GAB
ZWE
URYGIN
MAR
TGO
VEN
CMR
GBR
KOR
DJI
CAF
GBR
BWA
ZMB
MUS
SYR
GAB
IRQCPVLKA
SYR
CPVDOM
COMNOR
MDGCPV
SLV
MUSMDG
SLVARG
MDV
CHNBRA
CHN
GBR
LBR
TTOBRA
DJI
GAB
SYR
IDN
BWADJIDJIMUS
SYR
VENJAM
MDV
LBN
HKGVEN
DJICHN
GBR
JAM
TCD
JAMCHNMARSLVPHL
CAF
CPV
CMR
IRL
IRNZWE
SGPSUR
LBR
CHNIRL
GAB
SLV
NGACPVGHASENTHA
URY
PHLCHN
LBRSLV
CPV
JPN
BOLJAM
SWZ
PAN
TTO
GHA
HKG
COD
JAM
ARGNOR
BOL
TZA
NOR
ZWE
BTN
DJI
CMR
GHA
GEO
BWA
MUS
KNA
KHM
IND
GAB
PANNORLBRNOR
HKGGHA
VEN
VNM
KGZTUN
AZETUN
VEN
URY
KAZ
IRQ
VEN
SWZ
JAM
JPN
GIN
TJK
STPHKGNGA
IND
EGY
NGA
JPN
VEN
BRAJAMBOL
CAFMAR
VEN
AZE
SYR
JAMMAR
MNG
JAM
NOR
COG
IRQ
GIN
KHM
COG
VNM
BWA
IRLIDN
VEN
ARG
GHA
GAB
COG
NORPAN
IDNJAM
SGP
GAB
VEN
ZWE
PANRUS
LBR
BLR
GAB
CPV
VNM
LBRJAM
THA
JPNLBNZWECHN
BTN
ZWE
CAF
JAM
BTN
TWNPHLNORZWE
SWZGHA
MDV
STPIRL
CPV
JAM
MNG
ZWE
TUN
CODTHA
SYR
GHAKOR
TTO
IDN
PANTUN
CPV
UGA
LBR
LBN
SGP
MARGHA
KHM
JPNIRN
HKG
ZMB
BWA
HKG
THA
CAFBWA
TWN
SYRTTO
AGO
THA
UGA
BWA
PAN
VNM
MDV
ARG
GRDMUS
MDV
JAM
LBR
JAM
JPN
LBN
IND
SYR
UKR
TTO
JAMBRA
THA
MNGPHL
IRQ
BWA
JAM
THA
GAB
JPNIRL
GHAIRNAGO
ARGTTO
RUS
KHM
LBN
HKG
BWA
CAF
COD
KHMTHA
COG
BTN
URY
BRA
NGA
MNGSYR
AGO
IRQ
ZWE
ZMBTHA
CHNIRN
THA
NER
JPN
THA
JAMSWZ
TTO
CAF
AGO
GIN
JPN
SGP
YEM
GHA
JPN
COD
KOR
SWZ
THA
SYR
ZMB
AZE
HKG
LBNJAM
TWN
IRQIRN
THATHA
URY
NER
MARJPNTUNEGY
IRQ
AZE
SWZ
IRL
BWA
MDV
MNG
BWA
GIN
YEM
SYR
THA
THA
ZWE
MNG
THACOD
IRL
TJKBTN
JPNBRA
ZMBKHM
IRN
GIN
TTONERTTOTTO
GIN
ARG
JPN
LBR
NGA
SGP
IRL
NER
IRL
CHN
TTO
SGP
IRLSTPIRN
TTO
YEM
BWA
GIN
TTO
BWA
EGY
BOL
TWN
URY
NER
KHM
NGA
SGP
EGY
KORURYSWZ
YEMYEM
URYLBR
BOLNGA
LBN
EGY
COD
TTO
TTO
BWA
NER
COD
CHNNGA
ZMB
NGA
NGABWACAF
URY
TTO
TTO
LBN
THA
BRA
MDVMDV
CHNLBR
NGA
TWN
LBN
NER
LBRNGA
ZMB
NGA
BWA
CAF
TWN
TTO
BOL
YEM
NGA
EGYEGY
BWAGNQTWNURY
SYRSWZNER
NGA
NGA
EGY
LBR
SYR
EGY
LBR
EGY
LBR
NGANGA
URY
EGY
NGA
EGY
URYCAFTWN
ARG
ZMB
IRN
KOR
ARG
NGA
KORCHN
EGY
KGZTWNBWATWN
NGA
THALBR
EGY
NGA
LBRTHA
SYR
LBR
ARG
UKR
NGA
NGA
TWNKAZ
NGA
LBRLBR
NER
BHS
TWNTWNTWN
NGA
IRN
NGA
NGA
COD
TWN
SWZ
EGY
NGA
LBRTWNBWA
MDV
CHNTWN
BHS
KOR
LBR
NGACHNTWNTWN
EGY
TWN
LBRMDV
EGY
MDV
TWN
COD
TWN
LBRTHA
TWN
CHN
NGA
COD
ZMB
EGYIRN
ZMB
TWNKOR
IRN
BHS
THACHNKORKGZ
SYR
COD
BHS
COD
KORKORKORKORKORKORKOR
COD
KOR
COD
GNQ
KORKORKORKORAZE
KORKORKOR
CODCODCOD
COD
GNQ
GNQGNQ
GNQGNQGNQGNQ
GNQ
GNQGNQ
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-2 -1 0 1 2Ln(Output per Capita)
coef = .69732697, (robust) se = .09748803, t = 7.15
Residuals on ResidualsTotal Emissions and GDP Per Capita
JOR
JOR
JORJORJOR
JOR
DJIDJI
JORLBRLBR
DJI
BWA
LBRJORJOR
BEL
DJI
GBR
GNQDNKGBRBGRBEL
BWA
GNQ
LBRCRI
DNK
VEN
URYJOR
BEL
URYTWN
BWA
GBRBGRDNK
DJIURY
BEL
URYGNQ
OMNAUT
SWE
CRI
SWEGBR
GNQ
URY
DNK
FINITA
BEL
AUT
GNQ
TWN
BWA
KEN
FINURY
GBR
ITADNK
VEN
BRB
SWE
JOR
BGR
SLVSLV
HUNAUTBGR
CRI
BEL
URY
GBRSWE
DNK
PHL
SWE
KEN
TWNAUT
DMA
FIN
BEL
ITA
BWA
BGRHUNGNQ
SWE
KEN
URY
ITAFIN
FRAGBR
BRB
ROU
JORPRT
DNKBGR
FIN
DMA
ITA
NOR
AUT
DMA
JAM
FRA
VEN
BRA
TTO
PHL
BEL
DJINOR
KEN
SWZ
GNQGBR
THA
ITA
OMN
HUN
KEN
PRT
THA
DNK
MDV
CHEURYHND
BEL
AUTFIN
SWE
TWN
JAM
OMN
CHE
CRI
JOR
ROU
OMN
THA
JAM
GBR
GNQ
RWA
OMN
FRA
TTO
THA
BWA
NOR
TTOVEN
LBR
PHL
TTO
BELBGR
BRBKEN
BRA
ZWE
HUN
ITA
MDV
NOR
SWE
DMASWZ
MEX
GMB
KEN
DNKAUT
PRT
SWZ
JPN
ZWETTO
PAN
MDV
THA
KENTTO
NLD
RWA
BELGMB
GBRFRASWE
FIN
BEL
TTOTTO
HND
ROU
KENJAM
ROU
NORGMBHND
TTO
GBR
JPN
KEN
ITA
THA
TWN
ZWE
CHEGMB
CRI
AUTCHECHENLD
DMATTO
OMN
FRA
MDV
ROU
GNQZWE
THA
PRT
BGR
ZWE
BEL
OMNPAN
ROU
DNK
ROU
BRAFIN
YEM
CHE
SWEGBRGNQ
BRB
PHLNOR
YEM
MDV
TTO
URYAUTITA
HUNBEL
GRCHND
TTO
TWN
FRA
TTO
HND
BRA
TTO
BWA
GBR
MDV
DNK
DMA
GBR
PAN
AUT
DOM
PRT
GBR
MEX
CHE
FINHND
NLDBGR
VEN
NORGNQ
SWE
BELDNK
BRB
GMBCHE
FRA
KEN
NORMEX
PAN
MEX
CRITWN
KEN
THA
CRI
GBR
JAM
DOM
PRT
SWZ
ITA
SWE
GRC
GNQ
DMAVCT
PHLDJIJPNAUT
MDV
URY
KHM
TTO
FINDNKHUNNLDDOM
CHEDNKNOR
ROUTHA
ZWE
BGR
ITACOL
BWA
SLV
FRA
BRAPRTFJI
ECUMDVSWE
KEN
MDV
AUT
MWI
KHMJAM
DNK
GBRCHEKHM
BRB
RWA
HND
LBR
PAN
TWN
UGA
YEM
KEN
NLDGBRFINNOR
SWE
NOR
GMB
ROU
BRB
CRI
GRCHND
JPNNOR
BEL
OMN
GTM
VENVCT
GMBBGRCHE
PHL
GMBGBRITA
KORGNQ
KOR
NOR
KOR
GRC
IRN
AUTHUN
TTO
FJI
DMA
FIN
VCT
TURNOR
THA
AUT
LBN
FRA
KOR
BRA
MEX
GNQ
PRT
PHLGNQ
PANCOL
DNKPAKNLD
SLV
JAM
HND
BELSWE
FJIPAN
URY
ECU
FIN
GNQ
BRAFIN
MDA
ROUROU
BGR
MWI
PER
NOR
MARGNQFINCHE
DOMKOR
GMB
TWN
BWA
TTO
JPN
GMBFRA
NOR
NLD
ITA
POL
DMA
HNDDNK
BEL
KHM
KHM
DJIUGADNK
KEN
ECU
PHL
ZWE
AUT
FRA
PAKITA
PAN
SLE
NOR
GNQIRN
BRB
KOR
GTM
GRCPRT
DOM
BRB
POL
VEN
NOR
VCT
COL
MDA
FRAKORSWE
PAN
MEX
GNQSWE
NORPHL
CRIBGRGNQBRA
USA
BGR
SLV
TTO
HUN
FIN
JAM
SWE
PAN
FINKEN
JOR
GRC
CHE
PRY
YEM
BELNLD
FJI
DNK
JAMSWZ
SYRFRA
SDN
GTMFINCHEJPN
ROU
NGA
POLFRA
MAR
USAESP
SGP
ITA
CRIGMB
NGA
GMB
UGA
AUT
IRQCOM
PAK
PRT
PRY
FRA
HND
MEX
DOM
MWINGA
BRA
FINCHEURY
UGAPER
SDN
NGA
MYS
ZWE
SWE
GMBAUTAUTALBUGAGNQTGO
DMA
NLD
PRY
JAM
POLSYR
KHM
GTMUGABRB
AUT
SDN
PHL
ECU
MWI
GBR
GRD
NGA
ESP
HUN
COL
COM
MWI
URY
IRN
PRTBRA
THA
BWA
PAK
SGPPOL
EGY
UGA
KENPER
KOR
UGAIRQ
ALBGMB
HND
ROU
MARTTOUGAMWI
USAPRY
GRCMEXITA
PRT
ESPKEN
VEN
ECUDOM
VCT
ESPATG
SDN
NLD
IRQMAR
CHEDOM
TGO
JAM
FRAHUN
ESPMWI
ESPESP
VCT
UGA
JPN
TWN
NZLTGONLD
GRD
ECUALB
PRTESPESP
PRT
ALB
FJIKENEGY
CANHUN
PER
SLETUR
ESPKEN
PAK
PAN
PRT
LUX
URYNLD
OMN
GTMESP
THAALB
ESP
EGY
ALBNLDLUXESP
ECU
LUX
BTN
TGONLDGBR
POLISL
ESP
JAM
NORESPIRL
HND
MRT
VCT
USA
OMN
SGP
IRLIRLMDA
ITA
URYPRYISLECU
IRL
FJIGRCMEX
GNB
PHL
UKR
GRD
NLD
GRD
CHEBELCANCHEDNKKHM
ROUNZLKORCHE
FRA
UGA
GTM
PAKLUXNZL
MRT
PRYPRY
KOR
LUX
EGY
HUN
EGY
SLV
PRY
BWA
THA
BGR
ECU
HND
SDN
LVA
MEX
RWAVCTZWE
YEM
LUX
MARCOMNORTWN
SYR
KENBRB
USA
UGA
LUX
URYLUXLUXITADJIJPNGMBIRL
URY
BTN
IRL
MRT
PRT
ALBPRY
MAR
ISL
MAR
FRA
JAM
LUX
KENOMNCOLEGY
LBN
ESP
IRN
PHLEGY
VEN
AUTMAR
CAN
NOREGY
LUX
ISL
HKG
LUX
MDVCMR
LBN
AUT
MYS
EGYPER
BEL
MNGLBNPAN
LUX
USALUXDOMCRIGBRUKR
UGA
TUR
KHM
GRCSWZMWI
NLD
LUX
IRQGRD
DNKGNB
PRT
CMRURYLUX
JAM
MDA
BRBZAF
LTU
CMR
PRTGTMHKGNZLALBSWECOMTHA
CRISURESP
NGA
SUR
CMRPAKAUTSGP
LUX
JPNTGO
IRQ
JOR
MAR
FJI
POL
GRC
ISL
ZAF
SGP
LBNBRA
FRA
LUX
GRC
SLE
GEONLD
LUX
ITACMR
NOR
BTN
ESP
ALB
TCD
TWN
IRLHUN
ZWE
PRT
JOR
BRBGNQNLD
EGY
LBR
MUS
COL
KORMNG
NZL
KHMPERUGAPHL
LVALUXBEL
GRCDMASURFINSURSUR
URY
SLV
URY
MAR
LUXRWA
DMA
TURPRYDMA
DNK
IRN
AUT
PANPER
TCDVEN
GMB
SGP
NLDCAN
GMB
USA
PRYHNDGNB
GBR
GRD
GTM
COL
IRL
COL
SWE
LUX
ATG
TZA
MYS
NGA
HRV
MOZ
ROUBEN
LUX
SWZ
LTU
PRYESP
ISL
SLEIRL
UGA
SYR
LBN
NZL
RWA
COL
BTN
GRC
VCT
LBR
SLV
GRC
ESTBRB
PER
POL
GRC
SYR
MUS
ATG
MNG
DEU
PER
USA
HUN
PHL
PAK
PRY
JAM
JPNAUTCRITUR
GMB
SLV
CAN
UGA
MDVECU
MWIMWIPER
TTO
USATHA
PRY
ALBJOR
TCD
CHE
KEN
BELTGO
CHN
LUX
ZAF
COM
ZAFPANSWZ
GBRLAO
GRDTCD
AGO
COM
MRT
BRB
ZWE
BIH
IRLBRB
ISL
AGO
LBN
CMR
SEN
LBN
SDN
KOR
TZA
MUSUGA
BIH
SURURY
GTMGEO
BLZ
SWENZL
JOR
PRYMEX
TWN
BRBGMB
BRBDEUBEN
BLZJAMGMB
SGP
GRDBWA
COL
PHLIRL
USA
BLZ
VEN
SWZGRC
LUX
IRNGRC
MOZECU
BRA
BELDNK
GRCPRYNOR
CMR
ALB
TTO
ISL
BLZHKG
RWA
SEN
TURTUR
BEN
SURNZLHND
UGA
CMR
CHE
CHN
KORTUNCMREST
LUX
BRB
USA
IRL
EGY
OMN
LUX
LAO
USA
YEM
USAMDACAN
MARATG
GRC
NGA
AUT
VCT
CMR
SEN
KEN
MYS
GMB
GBR
MYS
MUS
CMR
IRL
TCD
BTN
CRI
MEXBLZ
MDV
CMR
PAN
JPNCHENZL
LKA
SENCZE
GNB
IRNROU
TUN
BEN
SEN
COM
SYR
POL
EGY
ECU
SWE
TCD
PHL
USA
GNB
MUS
ZWE
SYR
LKA
PRYNZLMNG
NZLAGOGTM
NZL
MYSUSA
CMR
PRY
LAOECU
ATG
ZWELKA
FIN
USA
SLV
USA
RWA
BEN
SLE
EGY
UGA
GNB
VCT
FJITGO
AGO
TUN
GNQ
COMTUN
URYUSARWA
DJI
LAO
BTN
AGOLKA
TUNHRVSENLAOSENHUNBEL
SUR
SYR
TUNLKA
BGR
BRAVENZWE
THA
TUNHNDMEX
CAN
LUX
USA
SVNTUNNZLPRYTUN
JAM
MUS
BEN
MOZ
NGA
BLZ
BFA
TZALKADMA
NZL
TTO
SENFRABEN
COM
SEN
NZLSENIRL
ALB
BENBFA
BLZ
IRL
IRNPAK
CHE
LCA
RUS
PRTPHL
LVA
MOZ
BLRAUTTUN
NORSWZ
BLZGNBTGO
MOZ
NZL
ZWEZAFJAM
EGY
SURSUR
MOZISL
SGP
KHM
GEOSWEISLLUX
SENBEN
PRYGBRJORMYS
RWA
ALB
MWI
NLD
JORTGO
LKA
ITA
LAO
ATGBELCANIRL
NGA
CMR
NZL
PHLLKA
IRNBLZ
PAN
SENIRQ
SYR
UKRCAN
GINGIN
ROU
GIN
VCTNGA
SUR
URY
JPNBLR
LKA
GIN
CRI
POL
COGBLZ
IRL
BLZARM
SEN
DOM
GINCHN
CZE
GIN
IRNCMRATGJAMKOR
JORAGO
PRTBRA
SURGNBDNKHNDTWN
LKA
MDAISL
HKGCOGKHM
DOM
NGA
GHALAO
GNB
ESPNLD
ZAF
BFAPRY
AGOMNG
CMRISL
PER
LBR
BEN
LBN
FIN
FRA
COM
ECU
KOR
MYS
LKA
NGA
NGA
AGO
SVNSDNNLDCOMNZL
UGA
URY
ATG
TZA
TCD
NZL
IRNBFANZLUGADEU
SLVLAOISLBEN
SWECMRGINCHE
SWZ
UGACOM
SGP
PHL
LTUATGMEX
ZAF
ITA
URY
VEN
CANEST
YEMIRQ
LVA
ESPBLZCOM
GHAZAFCOL
RUSISL
SLE
ECUROU
MYS
GRC
UKR
ALB
IRL
PAK
MRT
NORPRTPAN
UGA
MWI
SURAGO
SWZSEN
CZE
ZAF
NZL
UGA
TCD
ARM
SLV
GEO
MRT
GINGTM
BFA
GRCBRA
BTN
SWE
BGD
RWA
POL
LAO
TCD
IRLNERGIN
ISLTGONLDAUT
ZWE
JOR
PRY
PHL
ISL
ATGGBR
NGA
CANRWAATG
FRA
MRT
LUXUKR
ECU
NER
ZMB
FINDMAHRVMRT
MWI
BEN
ZAF
SVKBFA
GINMNG
BFA
PER
BLZMRTBLZHUN
PRYEGY
NGA
TUR
KOR
MOZ
BENMYS
HKG
EGY
LAO
RWA
NPL
NPL
DOMUGA
ESPDNKFJIMRTURY
GEOSDN
MRT
JPN
GRD
DOM
EGY
BFA
BLR
HND
COG
SLV
USA
SUR
PHL
LAO
COMBWA
NER
EGY
BFAATG
MDG
SUR
COG
CRICOGCANIRL
CHEJAMBLZ
MLI
COGGEOITA
THA
SUR
BGR
MNGTZAIRN
CAN
UGA
MWI
MDV
HNDPRTDEUIRN
UKR
ETH
LAOAGO
LBN
BIH
FIN
MDA
UGA
BIH
NER
NZLLVA
NOR
DOM
TZACMR
RWA
BRB
ATG
DNK
CANBLR
CPVNPLISL
NGA
TWN
MDGUGA
ZMB
GHA
LAOMDG
SGP
MDG
MDG
HNDHND
GRC
RWA
COL
LBNKENBRA
UGA
IRN
THA
MUS
MARIRLDMA
BEL
GTM
FRAROU
GMB
IRL
SEN
OMN
EGY
BLZ
ZMB
IRN
ESPBLR
NERMYSIRLDOM
MDG
CZESDNKGZ
EGY
TCDAGOGHABLRCHE
MRTISL
KAZHRV
SVK
RWA
VENPAN
DOM
MRT
TUNLTU
COG
AUS
NPL
PAK
GHA
ECU
COM
TTO
ZMB
GRD
JORSUR
BFATCD
JOR
IDN
SWZ
HKG
ETH
USA
MDG
SLV
NGA
IRL
ZMB
BEN
MDG
CANIRL
LKAHKG
ISL
KAZNLD
EGYBGD
JAMDJISVNCPV
COG
BFA
IDN
SYR
IRN
GINBENLAOIRL
MDG
MKDNER
RUSJAMAZEMLIGRC
UKRETH
PER
MYS
GINPRTCZESDNNEREST
POLNPLNERBEN
GTM
BGD
HKG
DOM
MLISEN
NPLGHADOM
TCD
ETH
MLI
LAO
PHL
SYR
SWELBNCOGNPL
MLI
BFA
NER
SDNAZE
IRN
KOR
IDNETH
MDG
AUSKAZ
MWI
GHA
PRYBRAGHA
MOZ
BTN
SLV
UGA
BEN
KHMKGZ
NPL
AZE
AUS
NPL
FRAMRT
ECU
VCT
LBRMRT
COL
ESP
BFA
THAMDGITAETH
IDN
SGP
AZEKAZ
NPL
MDGNZLKORCRIRUS
ZAF
SWZAGOHRVAUS
NOR
JPNTUN
ETH
MYSCPV
HUNDEUTURLVARUS
DMA
BGDNPL
BRB
NAM
MDG
UGAZMB
SLE
TCD
ZMB
FIN
CHNGHACPVBENECU
VCT
GHA
KENPAN
ATG
IDN
MEXHKGCHNAUSHKG
GRCCOD
KGZMDG
ETH
GBRUSA
IRNMNG
GEO
NAM
KGZZWE
NGA
IDN
TWNCAN
MUSCOL
HNDKAZ
TUR
KAZ
EGY
ZAF
SVNGINMLI
BGD
RWA
SEN
PERLBNIRQ
CHE
TCD
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MDG
BTN
IRN
AUSCANURY
UGA
NGA
EGY
IRQ
HUNAUTUKR
HUNCPVDOMZMBDNKMWIPRTNPL
MLI
ESP
CPV
DJICOG
BEN
ETH
KNA
RUSMYS
NER
BFA
SWZEGYNAMHNDTCD
SEN
MLI
CAN
ZAF
POL
GAB
USA
GTM
ZMB
TCD
GHA
NORBFA
MOZ
BRB
KNA
EGYMDGMKDCZE
EGY
IRL
ECU
TCDMNG
YEMHND
ETH
HKGATG
TZAUKR
MAR
TCD
GHACRISUR
ETH
NLDCOMAZESVKLTU
CPV
TCD
NPLRUS
BGD
ATG
FIN
BFA
GAB
COGTCDSTP
KAZSVK
SYR
NZLMLI
SWZ
MYSHKGBLRMDGKGZ
AGOETH
AGO
BTN
BLZ
ETHSLV
PHL
JAMMYS
GAB
UGABDI
SEN
KNA
PAK
NPL
SEN
BRA
AGONAMFRAIRN
HKGAUSMEXMDG
CHL
ATGPRY
KNA
LAO
FJI
BFAPOL
GAB
LUX
ZMBGMB
SLV
ZMB
VNM
GNQ
MDV
ETHMDGHKGSTPGRD
NGA
AZE
VNM
BGR
BHS
MLI
ZMB
ETH
ETH
SWE
ETHITAMLI
BFA
PRTRUS
NER
CHL
BFAKNASGP
SLEEGY
KEN
MRTSVNHRV
SYR
ATGEGYKAZ
IRQ
BRB
ZMB
THACHNUSAAZE
TCDTCD
GINNLD
TGOMYS
ARM
KNA
EST
VNM
INDMYS
ETH
PAN
NER
MLIBFASEN
LKA
MDV
ETH
ETH
GRD
BEN
AGO
MDG
NER
COMCPV
ETH
ESP
MUSNER
ATG
RWA
BRB
SVKDMA
ETHGNQ
SLEJPNBEL
SYRALB
MLI
ZWEGEO
COD
CHL
ETH
GTMSDNTJKGHA
MRTNER
SWZ
MYSDEU
IDN
ARG
GMB
NER
MDA
GTMAZE
TZA
MWI
SYR
TUR
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AZEEGY
ETH
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NER
ARGCHE
GAB
AGO
BRBMLIBWA
BTN
POL
GABRUS
VNM
MUS
ETH
TTO
BTN
STP
FRAINDGTM
PER
CRIMYS
NGA
AUS
GAB
AUSHKGTWNNZLLBR
MNG
KGZETH
TUNGBRAUS
SYR
NZL
IRN
ATGECU
ZAFGTM
EGYMLI
CHLBENKAZCHN
GAB
PRYHNDGTMETHTUR
LKAGTMGHA
GEO
VENATG
ALB
NGA
KHMAUS
COD
NER
CPVNER
ARMARMKORSTP
LAO
CPVINDATG
COD
LBNGTM
SLV
TCD
NPL
ALB
TCD
LVA
BHS
CHNTZA
CPV
ARM
BFA
SLV
KGZLTU
TCDNER
ESTBLRETH
GAB
BEN
MLI
USA
COL
ARG
COL
MEXAUTCOG
JAMLBR
GNBDJI
MARMAR
BHS
DJIBRA
NPLVNM
CPVJAMMARATGIDN
MDGPOL
KNACOG
ETH
IND
BRBGRC
SVKBOLMWI
SYR
CHL
MLI
VNM
DJISLV
AUSJAM
ZMB
GAB
VCT
TUN
ZMB
GHADOMBRA
LAO
CPV
CHL
SGP
TZAGNB
IND
ETHGRD
PAK
TJK
ETH
NER
CZE
IDN
BLZ
BGD
BDI
AUS
COD
COGBOL
BFACPVITANOR
AUS
IND
GAB
PHL
IND
ARG
CRI
MOZ
IRL
LCA
SYR
UKR
CPVTUR
MLI
DMAMLI
GAB
GTM
COG
NPL
MDG
TUN
GAB
CPVALB
TZA
FJIDNKKAZMLI
MLI
FINIRNNPL
NAM
BFAMYS
POLSLE
SYR
ARM
CAF
NPL
AUS
PER
CPV
GRDLBNIRQAUS
MAR
MLI
MUSCOG
TGOPOLSTP
AGO
CPV
POL
CHN
STP
AGOUGA
SWEKAZ
VNM
CMR
KHMSVK
BDIUGA
CMR
GAB
BOL
RWA
AUS
MOZ
UGA
TJKUSACPV
IND
KNA
GHA
INDVNMARM
MLI
ARG
ATG
BHS
MDATWN
ARG
AUS
GAB
GRD
NER
TGOSDNJPNNLDARGARG
MLI
TZA
SGP
LBR
TZAMKD
BOL
IDN
KAZINDBLR
ARG
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NPLMRT
TZA
CPV
MNG
MEXMDVARGGINSVN
ATGMAR
SWZ
MYS
YEM
COL
AUSMLI
INDTJK
SGP
CODHRVPRT
SGPSYR
ZMB
BGD
MKDMRTARGZAF
MDG
GMB
CHEVEN
BHS
MWIGRDBFA
MAR
COD
GAB
NAM
VNMSDNHKGJORSUR
SLV
RUSTZA
IND
GHANZLBDI
MOZVNM
GHAIRQVCT
IDN
NGA
COM
NER
MRT
GHAARG
NER
SLV
KGZ
VNM
ALB
MAR
NER
KNA
BTN
ARG
DEUSYRCOGDJI
TCDBDI
SYR
BTN
MRT
ARMGRDCRIIND
VNMCHLSDNFJIAGOBLZ
COG
FJINPL
BGD
SYR
TZA
MRT
NER
CPV
BGD
DOM
VNMVNMCHL
SGP
BTN
BDI
COLIND
TUNRWA
INDHKGIRNBOLAZEITA
BDISYR
CHN
KHM
UKR
SYR
NER
ZMB
TUR
ZMB
PRY
BOL
GAB
TGO
COD
GRC
BEN
ESP
ARM
BHS
GHAMAR
BFASYR
COD
JPNGEOARG
BFA
SGP
CMRBOLGHA
MLI
CANINDSLEFRA
TGO
VENKGZ
NPL
CAF
NPL
BHS
BDISLV
TCD
GAB
CHL
NER
TURUSALTU
LCA
TZAINDESTTGO
BTN
SGP
LCALUX
COD
BFA
BGD
PANCOD
CAF
ZMB
SGP
MRTKNABRALCA
MRTNPL
ECU
SGP
COD
ATGCRISRB
BRB
MLICZEGNBMKDIND
PER
GBR
ZAF
ARGBDIMAR
KNAISL
SYR
CHL
BOLIND
LCA
ARG
KEN
TUR
BOLLCATCD
GAB
TCD
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LKA
BHS
SLV
IND
COG
IND
ARG
HKG
IDN
BOLUSAJPNBHS
SDNBDI
BHS
BOL
INDURY
CHN
ZMB
PAKETH
GIN
TCD
GRD
LVA
PER
OMNLBN
TJK
MAR
INDIND
NERNAM
GTMCAF
BOL
SLV
CAFHKGCHL
SYR
IND
MRT
BELCHLKORARM
TGOTUN
BOL
CHLTZA
MOZ
IND
BOL
ARG
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KNA
IRQ
IND
IDNAGOVNM
NGA
COL
AGOCHLFIN
COD
SVKTZA
ARG
ISL
IDN
INDBOL
ARGBDIMUS
CODFJI
FJI
AUT
NER
UGANZLARG
SGP
TZA
LCA
BFA
YEM
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COD
GAB
TKMARG
MEX
NER
JPN
TCD
SYR
ZWE
MOZ
MDG
ZAF
NER
BOL
ARG
BGD
MUS
MOZ
BOL
MDA
TZA
MNEIRLLCABEN
IND
GRDPERSGPBOL
CANKNAHKGMRT
BWA
CHNARG
STP
CHN
LCA
MKD
NOR
BDI
VEN
GAB
NPL
PER
MOZ
BOL
GAB
MWI
BHS
SEN
BOL
MOZ
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LKA
GTM
BOL
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EGYTZA
COM
CPV
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VNM
NGA
HRVVCTLCA
HND
STPBIH
KAZEST
MOZ
CHLDNK
LCA
INDIRN
BDIEGY
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TUN
BHS
BEN
LAO
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RWA
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COD
NZLSDNCHL
VNM
GRC
MOZ
LCA
CHLGINMYSKNASDN
LCA
ISL
HUNBLR
FJI
SLVMKDVNMBOLCOL
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CODCRIDEUCHL
MOZ
PER
TWNMDG
MNG
CHNBHS
VNMTZA
MOZ
CODGNBGHA
SDN
SLV
BENMEX
IRQBHS
CZE
ARG
CPVTCDCHLINDMYS
BDIGMB
CMR
ZMB
SYR
BENARG
AUS
COG
MLI
GIN
POL
SYR
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BOLSYRSLECAF
RUS
GHA
BOL
GNB
KGZ
COD
PAKMLINPL
GAB
NER
BFA
BDI
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GIN
NGA
IDNIND
BOL
MOZ
GHAVNM
SYRCOG
PRYCRICAFGEO
BGD
CHE
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IND
BHS
CAF
GRD
CHN
GHA
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NAMBRB
IND
COG
GINMKDDMAKNA
BOL
MOZGAB
ZMB
BHS
GRD
GHA
TJKLCA
GHACOD
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VNMBOL
MOZ
CAN
TZA
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MOZIRQ
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MRT
CAF
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IND
SUR
MRT
MUSJAMTGOSDN
COD
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SVNBRA
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BFANERTGO
BENGINAUSMNECANGTMBOL
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AUS
CAF
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COD
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BOL
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TZAPAN
COD
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MUS
MEX
GAB
NPL
IRL
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ARG
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MOZ
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GHAIRQ
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BOL
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MOZ
IRL
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MNG
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IDN
LCAGHA
MDG
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MRT
BGD
IRLDJI
CHLGHA
MDG
BTN
CANIRL
LKA
SGP
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SLE
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TTOAUSTKMUZBIRL
SLECAF
MRT
CHL
SGP
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BIH
BHSSURCHLAUSTKMARG
MDG
FJISTP
TKMBOLTKMJOR
ZMB
BEN
LVACAF
CHN
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LKA
MRT
UZBMUS
BHS
ETHBWA
NZL
GIN
IRQ
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CHL
ARG
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MRT
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CAF
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SYR
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IND
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LAO
BLZTGO
UZB
BOLUGACPV
GRC
CODCAFPOLAUSMYSGTM
SGP
ARMCHNAUS
MOZ
BEN
ZAF
BHS
CAN
SGP
KGZVENIRLIRLPHLARG
USA
UZB
BOL
GHA
IRLCOG
COD
EST
LKA
IRNGNB
COD
BHSIRQ
SENIRNDNKCRIRWAAUSTKM
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KNAZAF
GHA
TUN
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BGD
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STP
TKM
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BTN
STP
MNG
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ECUCHLMARUKRMNG
MEXBGDBDIIDNNORGRD
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CAF
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MDG
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SLV
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BHS
MDG
SYR
THA
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GIN
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CHL
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COD
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CHL
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CAF
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STPBENIDN
DMAJAM
COD
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BOLTJKMDG
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COD
MAR
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TCD
IND
LCA
ARG
HRVTKM
MLI
MDVIDN
CAFSGP
IDN
BHS
MDGSTP
CAN
MOZ
SGP
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CHN
GAB
TUN
COM
LKA
IRQFJI
BHS
USA
RWA
MKD
IDN
PHL
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BDI
ARG
GIN
MAR
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MUS
DEUZMBISL
ITA
MNG
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TKM
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KENKNA
BRA
BDI
CODCHN
AGOCOD
KHM
LCA
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TKM
TKMURY
IDN
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UGA
VNM
RWAMUS
LVA
IND
IRQ
ZMB
COD
NPL
NOR
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COD
AUS
LCA
FJI
LCA
TURCHLCHNCODAUS
IDN
ARG
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ARG
OMNCRI
CHLTKM
MAR
TZA
LKABDI
TCDCPV
CODVEN
NER
JPN
NPL
CAFUZBLKA
PAN
CHLECU
NAMDOM
FRA
BHS
TUNPER
STPFJI
BIH
LBN
BDIISLLKABFA
BDI
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LCA
CAF
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LSO
SGP
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CHL
CHN
MOZ
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BOL
GRD
BOL
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BTN
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COD
MUS
SVNISL
STPBLZ
LCA
TGO
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BHS
MUS
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MDG
MAR
BDI
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SLE
BHSLBR
MNECHN
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MNG
NPL
CHNTUN
BOLAUSLTUMNG
ESP
IRNGNB
MUS
MOZ
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IDN
NGAUZBGHACAFJPNHUN
MRT
TCD
KHM
TJKCHNOMNSRBBLRBWA
COG
DOM
NER
LKA
SURROU
IDN
CMR
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SLV
GTMGRC
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TGO
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BGR
BDI
ISL
MNGSVK
LVA
SWE
IDN
GAB
PRTTUN
MOZ
JPN
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BOL
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HKG
GNQ
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ETH
LAO
GNB
TGO
MNG
LKA
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SLEGIN
CHL
CODCOLAUSIDNCHL
STP
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DMA
CHNTTO
NZL
CAN
FIN
SENCAFEGYLUXCOG
BRBSTP
MUS
LTURWAMUS
BHSHND
SGP
ZMB
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CAF
IRNBEN
GBRDEU
BDI
NGA
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MAR
TWN
CHLIND
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SYR
ZMB
CHL
BDI
STP
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BTN
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MAR
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CAFCOG
HRV
MOZ
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STP
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VNM
VCT
BHS
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CAN
TJK
BHS
TCD
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CAF
KGZ
SLE
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SLE
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MUS
MOZIRN
PER
MOZMOZ
NGA
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LAOBDI
CAFGNBCAFAUSCAF
MNGUGA
TWNTWNCZE
ATG
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CHN
IRQURYJPN
FJI
COD
CHL
TZA
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BHS
MDVTZA
SGP
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GAB
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LBR
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MUS
PRYMKDAGO
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UZB
BFA
MUS
AUS
MOZ
IRQ
MDG
ETHCOGEGYARG
ALBCAFMKD
NGA
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SUR
ARG
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LBNBHS
CAF
SLE
OMNCHN
NGA
MRT
BIH
BGDECUMYSEGYMNE
LKA
TCD
TKMCAF
SLVLBR
ZAFCANMKD
MUS
DNKPER
ARG
DOMMUS
IRQSLEAGOARGCOG
USATURJPNHKG
CRI
GTMZAFMWI
SYR
BRAFRA
NER
BGD
COGLUX
ZMB
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THA
PAN
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CHNIRQ
GNB
CAF
FIN
SEN
GNBCHL
LCA
MOZ
IDN
CPV
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TUNHND
SGP
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SDN
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VENMLIIRNIDNUZBNPL
ZAFMUS
SLE
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CHNAUS
ARG
ESTOMN
BGD
PAKBELSTPSWE
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GTMMUS
JOR
ETH
MUS
ETHPHL
KNA
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TURGHATURSUR
SVNIDNBTN
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MUSMUS
IRL
SLE
NPLGBR
SLE
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CHL
PER
TUR
KGZ
TZA
DOM
SLENAM
LCA
ZMB
MUS
CHN
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UKR
IRQ
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BTN
COG
CHNPER
LBR
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PER
LBR
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GNQGNQ
CHE
TJKPRTKEN
ARGBDI
MUS
MUSGTM
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GNB
BGD
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MYS
MUS
COM
GIN
MRT
MEX
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BGD
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COG
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GTM
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COD
NORDEU
IDN
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NGA
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GRC
BGD
BIH
LCA
TKM
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BGDBGD
SLECRI
NZL
STPKORSLEESPLBNCPVSLE
KNAGTMPER
MNGMYS
ZAFMKD
COD
GNBSTP
GNBGRDPERPANMNGDJI
COMCAN
MNG
NGA
OMN
ETHPOLJPN
STPKOR
PER
AUSBGD
MWILBNGNB
LKA
ZWE
MOZNAMNLD
LBNSLV
BGD
ZWE
GAB
GNQ
GAB
GRDZMB
INDCOG
COM
IRN
CHNMLIDOMHRVTUR
BGD
LKA
TWNGINAUSPAKEGY
GNB
CHNARMGNBFJI
COMMDG
NGA
NAM
GAB
TWN
TCD
KHM
ARG
TTO
ISL
MUS
CHN
GTM
JORTURTUN
CAN
BEL
MAR
BLRGTMZAF
IRQTUR
CMR
VEN
LKA
GINMUS
TUN
GNB
BENGAB
TZA
SLE
FJI
ARG
CHNYEM
UGA
USA
BGD
JPN
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RUSPANPRY
EST
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ARG
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MLIPRY
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NAM
PRY
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COG
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KORBRA
CAN
MUS
AUT
COLBRB
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COM
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LBN
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MWIJPN
TURKOR
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KAZFRAZAFIRNJPNGAB
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KGZ
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HKG
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POL
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AUSGIN
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FIN
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POL
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MUS
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NER
KOR
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USA
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GIN
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KHM
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GRC
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SLECOL
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MYS
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JPN
GNQ
KOR
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DNK
PRT
TUN
MDV
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NER
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IND
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VEN
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PAN
HKG
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MEX
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JPN
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PER
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SVK
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KHM
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SWEURY
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ITA
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BRB
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GEO
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SYRDNKKAZ
HUN
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BRB
UKR
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SYR
JORURYJOR
IRLTCD
JORSWE
GMB
AUT
UGADMA
GMB
FINFIN
GBRBEL
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DNKJOR
FIN
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KEN
DMA
JOR
GBR
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LUX
GMB
NORFINBRB
IRLAUT
TCD
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SWE
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UGA
LUX
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LUX
NOR
GBR
GNQ
JOR
BELURYJORURYAUTURYSWEAUT
NOR
AUTIRL
UGAGMB
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BRB
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NOR
BEL
SWEURYDNK
NOR
GMBSWE
GBR
NOR
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NOR
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IRLSWE
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GMBDNK
BEL
IRLDNK
GBR
SWEAUTAUT
BELSWEBEL
BRB
UGA
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JOR
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GNQGNQGNQGNQGNQGNQGNQ
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-1 -.5 0 .5Ln(Total Population)
coef = 1.8772361, (robust) se = .17916787, t = 10.48
Residuals on ResidualsTotal Emissions and Population
Figure A6: Partial residual plot. Note that the x-axis is different in the two panels of the figure. Thisobscures the difference in slopes, which are listed below each scatter plot. The coefficient on populationis significantly larger. The difference in scales is necessary for visual inspection of the role of outliers.
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Total Emissions Ratio GDP per Capita Emissions Ratio
% Working Age Emissions Population Emission Ratio
Figure A7: Results from the economic-demographic model. All variables are the the ratio of the outcomeof the low fertility scenario over the medium fertility scenario. Panel A (left) plots the main outcomevariables. Panel B (right) decomposes the difference in emissions between sources.
25
8.5 Results with National Accounts Measure of GDP
Table A5: Determinants of Carbon Emissions: National Accounts
(1) (2) (3) (4)Ln pop. (a) 1.437*** 1.517*** 1.467*** 1.566***
(0.174) (0.178) (0.174) (0.211)
Ln gdppc (nat’l acct.) (b) 0.500*** 0.512*** 0.509*** 0.609***(0.077) (0.084) (0.084) (0.095)
% Age 15-64 0.010 0.010 0.008(0.007) (0.006) (0.006)
% Urban 0.006* 0.009*(0.004) (0.005)
Trade (% of GDP) 0.0002(0.0002)
Year FE Yes Yes Yes YesObservations 7133 6426 6426 5679Countries 156 153 153 147R-Squared 0.06 0.07 0.07 0.07Within R-Squared 0.035 0.038 0.038 0.045P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.013 0.004 0.008 0.008
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
26
IRQLBN
LBR
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LBNMDALBN
GNBGEO
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BWA
LBNKORTTO
PANGBRGINJAMSWETTODOMIRLGINKENMDGMUSUZBNLDSLVSYRHUNGMB
SWZ
JORJOR
MDABELBELINDSWEPHLHNDGTMFJICMR
MOZVENLKADOMCOLAUTNORSLVTWNHNDMKDDOM
JAM
ROUMLICMRESPLBRSVNZAFLBRYEMCANMNGTZAMDVCHENPLMDGURYLAONZLECUESTSDNCHEIRNTTOSVKNZLROUBTNGTMUGALBNBRAGTMNZLBGDHRVURYLTUEGYZAFPHLCHEGIN
JOR
BHSFINMEXAUTSTPTHAIDNSENGTMURYUSACHEGINZAF
NGA
MOZJAMGINLUXAUTTZAZMBPRTPANPHLTWNFJIBGDIRNSTPGHACPVITABFABTNJAM
MYSUSA
ETH
CHEBRABRBPANHNDBWAHNDNORKEN
CMRJPNDNKITAMNGBELGBR
KGZ
BHSTZA
COD
FRASURDNKGHABLZNER
ARM
LUXNLD
STP
BRAECUBRALBRMEXMEXDMASLEGBRIRLAUTPRYYEMTGOPANBELFRAGRCCHLNLDNLDLBNECUPERTHABGDRWAMRTBDIJPNNERGRCLCAISLSVNGBRGHAMARESPCANSWEGINESPDNKPHLSDNJORNAMKENGTMNGAECUSURVENIRLSWECHEECU
GRD
USALKAMEXBLZPAKBGDCANYEMNPLGMBNORBRBZMBHRVCPVCMRCAFEGYITADNKAUTEGYCHEGINALB
DOMCANHNDBRBIRLETHTTO
BEN
ESPMDGESPBWAPHLMYSCOMBDIARGCHNGBR
IRNOMNPAKCZEUSATUN
COG
HRVCRIBELGTMBENBFASVKPRY
YEM
FJIPRTTTOVCTGHA
CRIPHLHNDKENJAMFRAMLIFRADNKDEUECUESPGHABRAPAKLBROMN
NPL
TWNEGYFINESPGRDCHLBEL
UGA
BDIPRYDOMPERBOLZMBLUXPAKGMBAUTMUSSLVTZANLDHKGBLZKNAMDVKENNORDNKIRQTJKAUTALBCHLNLD
BHSCRIBELITACRINGACHEEGYCRISWEPHLTUN
LBR
EGYCANTZABGDGTMUGAITAMOZURYTGOMUSPOLMYSZAFMEXGRCLUXIRLSLENLDCZEPHL
ALB
MRTSLENLDURYSENBGRTURBRBGTMNLDMNGNORKHMBFAJPNSENFINSWE
MARVENAUTGTMPOLPRTGHAUSADMAFJISLEUSAISL
BTN
ATGBRABRANOR
GAB
BRBMARTUNLBR
SLVDNKCOLAUSGINJPNURYECUBIH
PERBRAMOZISLUSAMEXECUFRACHLBRA
BDI
CAFPRT
NGA
IDNBEL
SLEVNMTUNUSAPRYCANGRCBRBPRYTUNPRTLCAIRNPOLAUSNORFRAUGAGBRCMRBELFRAEGYLUXMARAUSFRANZLMWISWESDNSLENZLNER
ETH
AUTSVNGRCZMBBGDTHABELBENGBRGHADNKARGISLIRLSURFRACAFSENECUTUNVENTWNMRTKENAUS
MKDTHACZEKENCAFMRTGHAPOLGMBTGOPANISLPHLCANMOZCRIIDNFRACOL
BGD
KNA
SWZ
BLZNLDGNQBGRCRILKABLZNAMBGDCOL
NER
JAM
PRY
GHAIDNSWEFRA
MDG
ZAFEGYKENBELAUSPRTINDGBR
ECU
SLVTZA
GNQCOLLKACODHUNHUNATGMDAGRCIRLPOLGABZAFITATJKETH
SGPALBEGYBENUGAGBRTZAPHL
OMN
BGDATGCOGGTMGHA
GTMPRTITA
ETH
BRACRINGAHKGPANITAECUAUTAUTGHAPHLTURFRAITASTPEGYIRLGBRUSASENBTNLCASENTGOPRTRWACOGCOLBDICODPERNGADNKAGO
CRIPHLPOLLTUSRBESPBLZLCABFAFINSVKTWNNORLCASURVEN
GHAKENESPUGABTN
ETH
CPVCOMFRATZATZAAUTGNBMUSCMRYEMFJIPAKGBRGHATURAZESVNBOLIRNITA
BLZ
JPNCRIGMBITA
BTNTZACHLATGSLVPHLBFABIHIRLNAMSVKITAUZBJAMTWNJORMYSGNBCANETHSWEVENAUSDOMKENATGEGYVENLCAKHMGBRBRBCRINGACANLBRPHLCODAUS
SGP
BOLIDNMARZMBCOLCANGRCAUSGBRGHAZAFIRN
YEM
NPLCRISRBCOLECUPRYBGDHNDVENPERVENTZAJOR
SWZ
LUXUSAFJICMRTURBTN
JPNECUNLDFRAKORUZBTKM
GAB
SLEPAKFINSVNCODBENBRARWAZWENORGTMGRCMLISLV
KEN
TWNLAOLAOLUXGNBECUVCTVNMNORDEUFINGMBNGACOLAUSIDNLKABIHISLNZLISLNERSWEBRBFRAAGOSLEMEXHUNPANBELJORGINIRQ
LTU
JAM
BGRITAMOZJORCRIGHAUZBFRABELDNKEGY
FJI
PERCODPANKORSLEFRAGNBINDAUSISLGNBTUR
BRB
LUXCANVCTMEXBFAKHM
NERGNQUZBDOMBFAOMN
ECU
TWNHKGALBZAFGRCSVNUGAETHMKDESPMNG
LBRCPVPHLAUTROUUSALKABHSETHTZA
MUSCODSWEPRYGINGMBCZECANGRDFJIBOLDOM
SGP
UGASLETGONLDKNATWNMARSDNUSAGHANLDGNBCHLCZESWEPOLPOLLUXBOLGRDRUSBGDGINAUSIDNLBNBRAPAKNORLKASVNCRIBRAMDG
MOZ
AUTZAFITADMAGNQ
GINESPGTMUZB
COG
PAKGRCBRACHEKAZCOMARGTWNGRD
LBR
COLMWIKORDMANORLAOBELPHLSYRLVAZMB
HNDPRTMEXCOLMRTSWEJPNSTP
ATG
MKDYEMMYSCOLMDGPOLNORDOMEGYLUXITARWAGINBHS
EGYHRVTHAAZEFRACRIMRTFRACZEMWIFRASWZGRD
TGO
DJIGHABELARGSDNSGPTUNPOL
MYSINDJPNZAFSGPCAFATGUGAFRATCDCHEIRNBIHJORAUSAUTDNKPAN
BGDBGDGINNPLNGABEL
VCTCPVCANSUR
TCD
CHLHUNFINAUTIRLUSAMLI
IRQ
LBNAUTMUSMRTARMSWENZLHUNPANUKRMEXBRASWEPER
AGOTTOVENCMRLKAUSAUGAGRCCHLPRYTTOLAO
NPLTHAIRLTGOSWZAUTINDCANHUNDOMPRY
BTN
MYSBGDIRNPRYPERCRIAUTBIH
DMA
ARGISLLCAGEOTHAKORCOD
GTM
ESPNPLBRBDNKALBDNKLAOCODPERMEXPRYCOLPAKBOLKENTUNFINSWZPRTLBNNLDPOLLKAPERSDNSENSLVECUOMNBGDCODPHLBELFRABGDLAOMEXNPLAGONZLPRTIRNIDNAUTPAKPANBLRBHS
TGOKORFRACPVKNAPRYCHLARGMNGUSAFJIHRVURYDOMNLDCANTHAMARBENUZBINDMEXURYFRAJORTWNCRINLDNLDSWE
LSO
BGROMNVCTMYSFRACANFINCPVGRCSYRPERCHLUSAFINZAFJOR
PRY
AUSBELGTMEGYUSAHUNMYSGINCOG
MDVGMBFJICPV
ETH
COGCRI
SEN
LKAGBRMARNZLFRASWENLDBGDLUXNORCHNCPV
IND
CPVMLIKGZMYSNORBTNJPNIRLTKMKORVCT
TURNORURYCHNBELNPLGEOTUNBRABWAHNDBFAESTDNKMOZPHLISLTUNMEXALBMKDDOMPANBDITZAKEN
PANKAZHUN
SLE
COD
SURIDNVNMCHLPANNORBELECUZWE
CMR
ROUCAF
LSO
PRYKENTTOGNBIDNCHEAGO
GEO
CRITZAPHLESPECULVASWETTOPHLCZEBDIUSAPERURYBRAPERBLZITAMOZMKDPAKLBR
KNA
GHASWE
CPV
NZLHKGBLRBWAUSAMARMNGAUSBLZ
PERSGPBGDLUXCOMIRNGABSENIRLTUNDOMISLNPLNLDSLVGEOIRL
ETH
SVNTJKSLVPRT
TWN
TGO
TUNCOLGNBAUSFRAAUSJORCOLPRTSLE
ECU
PERMOZHNDLKACOL
KHM
SYR
LAOSDNJPNBTNPRTGNQGTMCANJAMECUITAIRLALBCODINDAUT
MNG
BOLZAFNZLUSACHNURYIRLRWATHA
FRASTPAUTZMBGBRMDGPHLSWEISLSDNBHSJPNIRL
TCD
MNGNORPOLLAO
LKA
KORAUTALBIRNPERGHA
MOZESPGRCZWEUGAPOLBHSUGA
VNM
NLDHUNBELPERESPMOZETHMUSCRISVNTKM
BTN
HNDIND
CHN
JPNITABFASVKGNBBENPHLJPNFRAPAKCOLCOLPOLBGRBOLITAINDGRCMUSKHMVCTDEUMLITJKCOLIDNLKARWA
FRAINDNZLDJIGBRTURTURIDN
BRB
FRAMARGABNPL
BELESPGBRVCTITAMOZGIN
IRLTUNPRTKGZCOLJORBFABEL
MRT
NLDPANZAFMNGHKGPERLAOHNDCANBELPANPOLTJKGHABIHOMNPHLSWECANFINSURCODSDNISLGTMBRBDNKMDG
SURTWNGINBFAJORBRBSEN
EGY
SVKESPAUTISLMNGBGDTHAURYTUNBGRUGAAUTCHERWATWNJORFJIINDHKGSVKTGOUZBBOLIRLSWELKANAMITABGDCANSVKVNMGNBFIN
LCAVNMMYSLKAFRATTOITADOM
MARZWEIDNISLLKAIDNGBRBELCAFAUSGMB
NGA
PAKBTNTUNPANHNDSURPRYDNKUSACHELBNFINTUNESPCODPRTITANZLKNABGRMEXFJIZAFLCA
EGY
SWZ
DMAESTCPVBFANPLGRCHUNUZBUGANZLRUSDOMLUXESPBGRMLICAFLKAPAK
CPV
MWI
BENPHLGMBAUSUSA
TTOMWIKNATWNBRAPANTZATHADMAINDKENBEN
BTN
MLI
CHLZAFITADNKUGAMLIPRYBENKNASGPETH
LAO
SENBGRNORIDNESP
NPL
AUSMYSMOZINDBGDBFATCDTHAPRT
NORTZAPOLISLCOLZWEKHMZAFNLDCODLUXFRABGDUGATUR
GNQ
HUNNLDMRTBELTURCANHKGSGPLTUPAKGTMTZAFINBGRAUTTJKKGZ
CPVSLVDNKCOLPANBGRPRTLKAAUTSVKMYSPRTSWEGNBRUSTWNCHEINDFRAIRLCZELBNGTMJPNVNMAUSROUJPNVNMAUSSGPGTMCRIMOZJPNDJIGTMLKAYEMIRLTHANZLCPVUSAGRDPRTAUTJPNARGCOMTUNTURCPVJPNHUNZWEBELCOLDNKGNQCOLMUSLAO
NERMDVPERLKASURROUAUTNORHUNMNGNLDIRLDOMTWNTURYEMDOMFINBENATGITATWNLAO
TTO
JAMUSAIRLSVKARGNERVCTMEXGNBNZLSWEGBRCRIGMBGBRLBRARGPRTMYS
BTN
CHLPRTKNAROUMEXKNAKORFINGRDIRN
SLE
SWEFRABIHPERCHLDNKCRI
TTO
NPLTHAIRLCHERUSBLREGYURYNERRUSIDNBFANPLVNMMUSTTOBGDDOMBGRPHL
MWIOMNBRAAUSCANMWIPRYCOL
SGP
THAPRYSWESURKGZHRVSURINDPRTSUR
BGR
DNKIDNKENDOMBGRMUSVENMARBFAESPLCAUGABGRTURUSAMYSBOLNGALAOCOGBOLECUINDVNMALBPOLNGAPRTVENTURSGP
ISLMRT
LKAMLI
ESTLAONLDBTNPRTHRVHUNLKAESPFJIEGYTUNHNDBWAIDNUGAMYS
LAO
MEXESPMEXKHMPRTKORKENFINESTARGAUTEGY
VCT
NORPHL
SGP
GTM
THA
LUXTUNUSANPLAUT
TTO
AUTVNMLTUTTOTWNSYR
MYSDOMAUTKORGNBNLDIRNVNMCOMBTNHKGPOLNERTZAHKGNGAUKRZWEHNDLUXIRQMRT
TTO
SWE
MUS
GRC
BDI
PANGNQBLRATGTGOBGDTHAROUCANBIH
POLHRVROUTWNDOMISLCHELBNRUSGRC
DOM
ARGNORMNGCAN
DOM
CHNCOMCHLKGZMARBRACHEPOLCZELKAMEXSLVBWAMEXPRYSLVBRBTUNEGYECUCPVJPNSVNITAPAKPANSGPNORMEXTURVENROUATGJPNATGISL
GRD
PHLTUNCMRCOGEGYBFAOMNDOMSTPSLEIDNDMACRI
VEN
VCT
SGPCAFVNMBGRPRYAUTISLMOZHUNKHMARGNPLBRB
HNDVEN
MWITHALCAIRQ
PRTISLCRI
LBRTUNTZASDNJPNSTPECUSVNPER
UGA
TTOMNGSLVLCAAUSBLZBGRGRCFRAROUBFABOLCHNKAZCHEBELDMAMUSOMN
CPVUSAURYDNKNORSDNEGYSYRBELAUTLAO
ALB
GNB
PHLBTNHUNBRA
CHLBGR
IRN
TWNINDVNMBWACHNBOL
EGYGABCHNNGAINDNORCOLBLRCHLLTUMWI
COD
VNM
SYR
ARGLUXSLELAO
LKA
TUR
SGP
TURHKGMEXTGOTGOURYPOLSVKSWZURYTTODMAMUS
GMB
PHLLKAKAZPERNORTZAMEXTHALKAGEODNKLUXARM
MUSGRDGTM
TTOITASLVBGRCODPAKCRIPAKISLROUAUSLKAUGAINDBELFRAMEXRUSBGRPANLVABOLIDNVNM
DOMSGPAUSAGO
LBNGABHKGESPMYSKOR
ECU
FIN
CANBHSBRAJPNMLIITAVCTPANDNKGABARGTHA
CHEFINITAPOLCOGKGZBGR
BWA
GRCGHAUGASLVMDVEGYSVKIDNARG
NGA
COGUKRTCDLVAMNGCAFHRVAUTNGACHNARGVNMCRIJPN
MUS
IRLDMAGTMTTO
MDVUSAMEXEGYNGAGEOINDSLVIDN
COM
NGAGBRCHEESPTURITAJPNARGDJIBGRSLVUGAMRTARGROUOMN
RWA
IRL
FINESTKEN
FJI
GRCYEM
LSO
PAKTJKTCDNORDOMCHLMARESPNOR
MDV
BOLTURVENROUUSAKENVENURYBGRLCATWNGHABGDBRAPHLLAOAUSNZLEGYPANMOZVENCHNSVKPANMEXITAUKRITABTNAUSMNGHKGCPVPOLUKRBOLNLDDMAINDISLVNMDOMFINSDNTCDTTOSYRCAFBDI
LAO
MUSLKA
BRB
LCA
SWEIRNGRDHUNZAFJORPOLALBMOZDNK
ARM
IND
BEN
KENMYSCPVMLIMNECOGBENROUVENAGOLUXMYSGRCTUNINDSYRGHAPAKMNGBTNLVAMYSTWNPRTTUNTURARMBRATHAHKGNGAUSACPVNLDBHSLCAPERCOMBGR
AGO
NGARWAROUNERGRDSURMLICHNBIH
MOZ
GNQ
INDLUXTZAPRTMDABENESPKHMVENITALAORUSVEN
TKMINDMUSAUSGINLKA
ROUVNMESPCMRCODNLDTCDSDN
SEN
UZBIDNURYTGOISLLKAECUFINNERTTOOMNNERHUNNORZMBSGPROU
BENINDIRNLBNPRYDNKCRIITADOMMDVMNGJPNCOLTWNDMAFINNZLLAOITALTUISLJPN
GRD
ROU
ETH
VNMTHAMNGATGGEOGRDNZLLUXSYRINDPANPRTCHLGRDPHLECULUXDOMVCTTWNJPNTURTURDMADOMMYSGNBBGDPERFINHKGMNGBGR
BFA
UGA
CMR
GNQ
GHA
ZWEIRNTWNFJILAOATGIDNGRCUGA
MEXBOLBWAETHPHLMUSKOR
ESPMYSJPNBTNZWESDNPRYNORCOLPANBWATHAINDBLRPOLPAN
CANATGCOMGBRTHAGTMSGPBWAMYSSLEGIN
CANGBR
COM
CHLALBPOLCANLKABRAGRDTWNBWA
SDN
NLDTUNBTNCHNCRICZEESPCANKNAUGA
GAB
CRIMEX
JAMPAKINDBFAKAZARGPAK
MDV
ESTMARBDIFIN
GAB
MNGVENFINCPVRWABLZMUSEGY
MYSFJICRIMOZPRTBLZIDN
CPV
JPNLKABHSARGLKABRAGRCKNACOGPRTVENMYSDJIJORTUNBGRKGZNZLBGRRUSCHL
SDN
AZEISLFINIRNBGRKORPERTWN
FIN
URYCPVMUS
ATG
USAESPKGZKORGHAPHLMWIMUSTHAMARGBREGYTWNESTAUT
SLE
LKATHAROUROULVAATGPRTBRAHKGZWEMDAKHMALBTJKIRLSURKHMDMAKHMJPNMRTIRNUZB
LKAGMBFINRWATJKTWNMUSMUSKHMLAOJAMCHLLCACHLGINTURDOMIRNMDAMYS
GHA
VCTPANGTMMDVKORMAR
FJIAZE
BHS
EGYTURFINGHALCAVNMLUXINDMNGHKGOMNGRD
TTOGMBNLDETHNGASYRHRVLUXPRTSGP
BWA
CPVLTU
BLZ
PRTLKARWANPLMDVPRTKNA
MUS
OMNCHN
CRI
GNBBLRIRQ
DOM
CPV
GRCNORTUN
BEN
GMBJPNLTUTJKMYSKGZBIHVCT
LAO
KOR
BTN
ESTCHNVENPOLDMACHNMOZBDIJORBFAPERECULTU
BHS
INDTWNNEREGYKHMPOLKAZLCACHLBLZMNGGRDMEXBRABRAVNM
DJIDMA
MDAPOLKHMLKAKAZMUSCHN
DOM
MLIMWILBNKORISLBLRGRCCHNPRY
GEOGRCETHTWNLBRHNDVNMUGASGP
MDG
ATG
KNALBNNERBWA
TGOCOMLUXMDV
COGSDN
COLBWA
SEN
MLIROUBRASWZTWN
SGP
TURHNDJPNBRBFINRUSGRCTUNHKGCPVARGARGSGP
MDVBGRTCDTGO
VCTPERBLZPAKBFA
GABBOLTHAMDVZWEUZBBRBHNDMRT
UGACPVTURTURSWZMOZ
NPL
DJISTP
ISL
KORLKATUNKORNAMITADNKPAKVCTIDNLVAMWI
IRQTKMIDNJORSLVMLIESTSVNDOMSLVDMASGPMOZSTPMYSURYKNABOLURYTTOHKGGRCTWNUGALUX
BWA
IDNPERARGVENSDNBHS
HKGBLZ
PANMARSWZLVAFJIUGAHNDBLRPOLBRB
GAB
PRTNAMBRB
SYRCHN
JAM
VCT
IDNGABMLIDNKMNGSYRBRAALBLTU
LCA
DOMARGMDA
NAM
MDGJPNINDIRLINDGAB
TZALBRHUNVNMMUSTHAHKG
RWA
ESTISLCHL
MRTVCTTTOBTNSENMRTLVAKORAUTMEXTTONPL
JAMKORPRYTHABRATHARWAVCTCPVTKMMDA
GAB
GRD
URY
LVATWNARMSVKMARKORCRIHRVMNGROUTTORWA
MUS
BWAETHBFAARGBLRKHMISLCMRVCTLBNGRCIRLKHMLCAZMB
UGA
GAB
ATGZMBSLVMDVLAOCHNURYGRDTWNSWZARMPAN
MRT
MNEPERLUXJAMTUR
MYS
ROUSGPTUNNZLBENINDVCTSURGRDRWAPERCHNGMBDMAECUCHL
MDVIRLPANETHNGAPANBWAEGYLBRUGACMRISL
SYR
TGO
NPL
CHNMAR
SLEMYSHKGCHNDMAZWEPER
ATG
IRNLTUISLVCTARGLVA
PANMYSHKG
ETH
CPVPANPANROUBDISGPMEXMEXVNMMARNLD
TGOTKMNAMMWIBWAETHSTPBRAGEOBTNBGDSTPCHL
JAMISLTHASVKIRLTWNVEN
PANBWASYRSURCHNMDVMDVTWNMYSMDVMARMOZCOMEGYMWIGAB
KNAINDCHNDJIBWAKORGRDMYSATGHNDIRNCHNKNAVNMPRYTURCOGSYRTHACRICHLCMRSDNEGYESPFJILVASWZBTN
SGP
DOMNGATUNGRCVNMTTO
BEN
TJKLAOROUBRABRAALB
ARM
BRB
DMA
TCD
MDVCODKORKORUGA
KAZDOMMDVBGDIRNLVADMABLRBWANPLKOR
ATG
IDNGRCTHAMLIURYSDN
ESP
KORIDN
VNM
JPNLBNHKGCRIAZESGPBRA
NGA
CHNCOMTWNBRB
CPV
MYSCOGIDNMDATWNGRDAZEMOZIRLPRY
TKMMNGDOMSGPIDNETHMWICHN
TCD
ZWECHNVNMSWZLKA
GAB
TCD
HKGGHABLRLKAMOZKENKNAIRLSLVIRNESPURYPRYCRI
IDNBWA
ETH
IRLJPNKORCHNINDROUHKGHKGBTNRWASGPCHLMEX
GNQ
FJIALBJPNCOGTTO
LBNCHNAUSIRLIDNTWNAZEEGYMYSMLITWN
ATG
FJI
IDNCHNMLITUR
GNQ
SGP
TWN
CHLCHNARMROUGNQTGOVNMALBBFA
KAZTWNJORMRTBTNAZEZMBMUSGRCRUS
MDG
KNAKORARMTHACHLTWNBLZJPNJAMHKGNZLBDIMARSGPAZEPRT
IRN
SGPGNB
GNB
UKR
ETH
JPNTURMRTBTNATGGABSGPKAZESTMYSBLROMNBDIGABCOGGRDUKRSURSLEIRNTHAVNM
GNQ
BFATWNMOZGEOOMNAZE
SGPTWNGNQ
JORMAR
SGP
ECUHKGTJKSGPETHKORIRNMOZNERUKRMUSTTO
LAOBLRROUKORCPVLUXKORTURURYVCTATGGRDTHAJORGEOMARTKMTJKBWAKOROMNGNBIRL
ATG
LUXCOMMUSLAOARMLTUITASYRCHNKHMCRIBGRKNA
GNQ
CPV
TTOESTMDVTWNBLZGRDTTOKORTWNHKGATGMYS
SGP
CHLCHNMDVDOMTHABDI
KHMCPVBGRHKGMWI
IDNBTNFJIPRYCHNAUTDMASDNRWABWACHNDOMTWNSYRLUXTWN
ATG
EGY
SGP
KORGRCIRNPANMDVAGOIRNCHNVENNERZWE
SGPJAMBLZSGPISLTURTTOARGMWIUGARWAJPNECUCMRJAMCMR
ETH
ROUMYS
COD
ARMCODTWN
MWICHNROUINDETHOMNCOMUZBEGYTHACHNOMNJORGRDBWATHA
TCD
NGATHABWATCDKORFJIBEN
GEO
MLIJAMMOZBRATTOOMN
GIN
SYRROUIRNJPN
THA
ZMBVENBWAGEOJORMARCOGTCDTWNBRAJPNHKG
SGP
KORGNQAGOESPARM
TGOKORBDI
SGP
ALB
GNQIRNKORVNMSLE
BHS
MLIBLZLCAGRCTHACHNAZEROU
BTN
MDV
GNQCPVBTNMAR
SGPJORGNQNZL
SUR
URY
TCD
ARG
LBN
PRTNGACHL
GAB
IRN
GAB
MDV
HKGESPKHMSDNKOR
BHS
CHNCHNPRYHKGSYROMN
NGA
TKMOMNRWA
AGO
TTO
IRNHKG
CHN
KENMARLAOAGOISLDMA
SDN
KOREGYDOMMWIBTN
JORALBIRNYEM
KAZSURARM
ALB
BRBIRQMRTTTOETHMRTSTPPERESP
BIH
VEN
ZMBGNBOMNROUCHNFJISYR
COG
MWIALBJORIRN
PANCRICHNTGOCHNDOMTUNSLEMRT
ARMLAOIRQ
GNQ
DMA
SDN
SWZIRQHNDMLI
MDVMDVMWIEGY
JORTKMCOG
NGA
AGOMDVIRQSEN
RWA
LCATCDCHNEGY
YEM
GMBAGOLCA
IRQ
IRNPANLBN
MDV
IRQ
TCDLBRLBR
GNQ
MARAGOGNQ
BWA
ZWEIRQJORCPV
BIHTUR
GHA
SYRKHMGAB
CMRTURNGABFAMYS
NGABDI
MUS
TCD
COG
STPSWZ
GNQ
SYR
SYR
AZEZWEIRQSLE
SWZ
ECUAZELBRVCTOMN
COG
MDVBHSBIHLBNLBN
MWI
IRQ
TUN
OMN
GNQ
LBNTCDZWE
BTN
ETHAZE
GNQ
IRQBWAGABSYR
BIH
JPNTHAJORRWAGABLBNLBN
IRQ
IRQIRQMRT
BIH
GNQ
LBN
GNQ
LBR
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-1 -.5 0 .5 1Ln(Output per Capita)
coef = .49964822, (robust) se = .07686872, t = 6.5
Residuals on ResidualsTotal Emissions and GDP Per Capita
RWA
BIH
RWA
RWABIH
GNQ
GNQ
GNQGNQGNB
GNQ
GNQRWABIHKHM
KHM
GHA
GNQLBRLBR
GNQ
ARM
KHM
KHMARMBTN
LBR
GEO
ATGATG
ATGEST
EST
ATG
ATGBTNARM
GEO
BTNGNB
CHN
GRD
ATGCPV
LBR
GRD
LVAEST
GNBBRBATGGRD
LBR
GEO
IRLMDALVACPVMDAMDAGRD
ARM
CPVGRDSURKAZBGRLBR
LVAIRLKAZMDAEST
GEO
MDA
MDAATGKAZKHMIRLDMA
TTO
KAZMDABGR
CHNKNA
IRL
DMADMASURGEOKNA
ALB
DMAMDA
GRDDMAKAZMDAGEOARMBGR
KNA
ALB
BGRGEOKNALVAALBGEOKAZGRDDMABGRGEOBGRKNA
DMAATGGEOESTKNABGRMDAIRL
IRLPRTBGRALBGRD
SURBRB
UKRKNAHUN
GRD
RWAHUNUKR
IRL
HUNKAZIRL
MDA
UKR
GEOHRVLBNGEOBGRHRVHUNLVA
ATG
GRD
ALBLBRESTUKR
LBN
SLE
SURIRLROUKNAUKRPRTMDAFINBTNDMAALBSLE
BTN
HUNHUNCHEMDAHUNGRDMDAGRDBGRMDAGRDPRTPRTESTARMGNQLTUBGRCHELVA
SLEGEOPRTDMASUR
ALB
CPV
KHM
IRLAUTBRBUKRCHELTULTUHUNROULTULTUUKRUKRAUTHRVBELBRB
KAZ
LVAUKRHUNDNKUKRLTU
KHM
BELHUNDNKIRLHRVBGRAUTAUTMOZLBNHUNBELBGRUKRLTUBELLVAMDAPRTLTUGBRRWAAUTDNKDNKAUTBGRMOZLTU
GEO
TTODMAGBRROUBGRSLECHEDNKDMASWELVAAUTURYUKR
LBN
BGRPRTUKRIRLAUTLUXSWEAUTCHELUXLBNGBRLVAARMPRTROUBGRMDAFINPRTROUURYLBN
UKRBELBGRPRTAUTSWEBGRGBRLVAUKRLBNDMALUXESTBGRROUUKRIRLGBRCPVGBRBGRBGRBELPRTSWEPRTAUTAUTDNKROUAUTBGRBGRBELBGRBGRLUXROUDMADNKLVAGBRURYDNKGBRAUTHUNHUNITAITAAUTLTUITA
SLE
ITABLRGBRLVAGBRDMA
DMA
BELIRLAUTSURLBNITAIRLPRT
GBRLUXLVASURESTITALTUROUBGR
ATG
GBRBELUKRHRVCHELBNAUTCHELUXDMAUKRIRLAUTGEODNKPRTBLRGEOLTUAUTDMALUXLVAITAAUTZWEITABLRLTULTUSURSWERUSGEOLUXARMBELKNASWEBELBLRLVAROUAUTURYNZLBLRSURITA
BFA
ZWE
ROUBLRBGRALBITANZLGBRATGPRTGBRLVA
TTO
GRCBLRGBR
FJIAUTBLRBLRLVADNKNORGBRGBRBLRLTULTUBELSRBBLRBGRBELFINGBRAUTGINBELGEODMAGBRSURITANORBRBBELSRBBLRBLRRUSBRBPRTKHM
NORFINRUSRUSROUIRLFINBELESTDNKRUSGBRITALTULUXBRBBGRDMA
DMAGNBGNQIRLFINFINSURLUXBLRDMAHUN
BIH
HUNGBRGBRSWEIRLURYGNQGBRCHENORDNKESPBLRIRLHRVBRBBRBROUBRB
GRCESPHUNSWEBLRBELDNKGBRRUSSWERUSZWERUSHUNBELESPDMADMAPOLFINGBRSWECZEESPFINRUSSWEHUN
SUR
SWEITAAUTBELDMAFINGRCROUBELBGRROUCZEBLRSWESWERUSSWENZLGRCZWEESPGRDGBRGRCSWELTUHUNAUTBELROUESPNORNORRUSBELAUT
FJI
DNKFINGBRSWEHRVLUXGNQHUNPOLITAMOZGRCBGRROUGRCGBR
OMN
PRTDMAHUNBELLBNGBRAUTBELHUNRUSSURFINROUROUCZEROUAUTROUFINFINBGRGNQROUBRBGRCOMNAUTIRLKAZATGNORIRLIRLGBRROUHUNROUFINNZL
BRB
GINNORARMIRLBRBAUTLBRDMADNKITAGBRHUNLUXNLDMDAFIN
BRBHUNESTDNKPRTGRDGINESPGBRNLDSLE
FRAHRVGRCHUNGRCHUNDMAITABELGBRAUTNLDSWELUXBRBSWEBGR
BRB
DNKIRLURYFRAESPDNKRUS
GNB
HUNDMAURYNORNORHUNDNKGRCGBRDMAESTHUNROUSWELUXSWEBLRCHEESTFRAPRTLUXFINHUNFINZWEITACZEBELHUNVCTNLDITAGBRGRCESPGRCSWEITABELPRTCZEROUAUTDNKRUSBRBPOLJPNITAHUNITABELBELGRCBGRHRVURY
BFABIHHRVBRBIRLNORCHEGINLUXVCTBELFINBRBBRBGBRFRAHRVHUNBFAFRALUXVCTGRDBRBFRAPOLBIHHUNHUNDNKFINGRCFRAFIN
JPNBRBBELJPNHKGNLDBELHRVNORSWECZEFINESPHUNBELDNKSWESWEBRBBELGBRITAGRCFINFINITAROUFINBELBRBHRVDMAGINHUNESTAUTRUS
ALB
VCT
DNKJPNROUFRAFJIMOZCZEGRCHRVPOLROUITAVCTLUXHRV
LUX
BELPOLFRAURYHKGAUTLUXDNKAUTROUPRTBELESPGINAUTDEUITABRBPOLPOLROUROUPOLNZLJAMBELPOLHUNESTFINGBRITANORDNKITAURYDNKHUNPRTLUXSWECHEFINBRBDEURUSDNKAUTNLDFINFIN
ATG
VCTVCTDEUBGRBIHROUPOLDNKBELPOLIRLITAITAFRASWEDMASURBGRPRTFINNORURYFRACZESWELUXIRLJPNSWEBELESTDEUPRTTTOSWELUXCHESWEDEUZWEGRCJPNBGRCZETTOPOLITABDIITAITABGRIRLDNKCHEBGRRUSURYLUXJPNSLEURYSWEITAURYJPNROUPRTSWEDNKAUTITAJPNESTPRTBIHCZEPRTPRTESPGBRESPVCTDMANLDNLDDEUFRAFRADEUAUTITAJPNCHEITAFRAFINCZENORBRBPOLVCTPRT
BRB
DMA
ITADNKNORJPNALBITABFASVKDEULUXNORDNKITAPOLSWE
URYPOLAUTNZLVCTITAITAAUTCHEISLRUS
JAM
ITADEUPRTDEUBRBSVKPRTNORGRCTTOGBRNORBFAITALUXTTOFRAJPNGINPRTFIN
FINNORJPNFRAITAJPNESTFRAGRCPOLATGJPNVCTBELNORFRADMAARMBIHDNK
BGD
NORITALBRNLDNZL
NOR
URY
DEUVCTNORROUDMABIH
ARM
POLBELGRCGRCDEUROUITASWEPOL
GNB
BELSVKNLDSWEFINNORAUTLBNSVKNORVCTSVKFRADEUDNKDNK
VCT
FRAJPNSWENORDNKFINJPNDNKLUXCHEJPNFRAITANORCZETZAGINBIHJPNBRBSWEDEUVCTNORNZLJPNGNBSRBTTOAUTVCTNZLSVKURY
ESP
URY
NORSWEURYJAMFRAURYBDINZLSVKCHEPOLPRTSVNDNKPOLPOLKNANORESPSVKVCTITAHKGGBRSWEURYVCTJPNSRBFRADNKTTONORVCTFRAJPNESPJPNURYURYLCASVNPOLGRCJPNNLD
ATG
JPNROUFRABELDNKESPNORGBRPOLGRDVCTJPNPOLVCTNORGRDBFAITAHKGVCTSVNJPNURYESPFINVCTFRAURYSVNGRCNORBELESPJAMPOLSVKBELHKGCHEGRD
ISL
JPNURYIRLURYJPNNZLVCTTTOCHEBELGBRPOLLCAGRDNLDESPKAZNLDJPNBRB
GNB
SVNNORGBRSVKESPGRCJPNFINNZLFINSVNSWE
MNE
FRADMAPOLFRAESPITATTOVCTSVKZWESVKIRLSWENORARMBRBFJIESPESPGRCDNKPOLFINARMPOLDNKFRAPOLBRBBRB
MOZ
POLDEUGBRESP
FJIBRBDMAAUTSWECHENZLFRAGRCFRAESPUSASWE
BDIOMNHRVLUX
SWEGBRSVNBRBVCTUSAFRAGBRLUXBELPRTDMABRBSWEBRBFJI
SVNBRBGRCBELGRDBRBBRBUSAJPNJAM
MNE
FINFJI
SVNNLDNORPRTCHEKGZ
URYVCTCANMKDJPN
BFA
AUTBRBNLDPRTSVNPOLBFAJAMJPNGRDARMFRAFINVCTBRBMNEFRAAUTBRBSVNMUSFIN
URYUSABRB
BRB
CHEESPBRBARMNLDGBRMKDBELESPSVKSVKJPNVCTLUXESPBIHGRDUSAKORJAMFRAGRDCZECHE
BRB
SVKOMNMKD
URYESPGBRGRCMUSMKDBRBALBFRASVKSWEFINVCTDNKVCTMUSFRAMWIGRCSVNARMMNEUSAESPMKDPOLFRASVNMKDESPPRTARMUSANLDCHEUSAMUSJPNMUSUSAARMKGZISLJPNTTODNKCHELUXUSA
CPV
DNKVCTURYURYMKDLCAROUUSAJPNPRTCHEMUSISLNORDNK
JAMESPFRAGRCNLDTTODNK
KGZJPNURYCANFINPOLFRAURYCPV
NLDMKDPRTSVK
TTOUSA
DNK
KHM
JPNLUXDNKVCT
BTNUSATTOSVNURYGRCSVNGRCGRDNLDJPNSWEDNKFINNZLJPNGRCSVNFRAGRCJPNFRAUSAMKDPRTPRTNORIRL
FJINLDBDI
DNKGRCNZLKGZMKDNORGBRROUAUTDNKAUTBELTTO
GRDFRAPRTGRDNLDDNKFINSWECHEBFAGINTWNNLDPOL
ATGPRTSVKMKDPRTLCAPOLGRCISLVCTCPVSLVGRDAUTESPROUFRANLDCANUSASVNLAOGNBPOLPRT
BRBJPNCHESWEFINMKDDNKUSABGDNLDMKDGRDFIN
USANLDGRCLUXITAVCTPOLISLSVNESP
CHN
JAMNLDDEULKATWNROUKORVCT
POLHKGMKDNORESPESPJAMAUTMKDISLSLVFJISLVLBNUSAPRT
URY
JPNFINDNKMKD
ESPGRCCHEURYIRLGBRPRTGABCPV
ROUMKDPRTLKA
JAM
SLVLBNGRDISLCHE
MKDROUTTOESPFINCANURY
KGZTWNAUTGRDNLDSLVFINGRCTTOJPNPRTFRACZECHEUSAALB
TTO
TTOPRTISLFINUSAESPROUDNKJAMGRCPRTPRTTTOTTOCHEISLLUXSWE
MRT
URYSLVFINTWNTWNJAMPRTALBGRCTTOTTONLD
ETH
NLDGRCGRCTTOSLVTWNBEL
JAM
FRAROUURYMUSDEUROUTTOJAMGRCGRCMWIJAMTWNAUTLAOALBISLAUTCANGBRMUSZWEURYALBSLV
GAB
KGZGINESPTTOALBVCTFJILAOLUXDMA
BFACHEFINNLDKORGRDUSADNKGRCNLD
ALBTTOUSAMWIESPNLDGRCFINSURSLVESPDNKJPNFJI
JAMESPFINJAMATGURY
ESPFRAFINNZL
LBN
NORNLDDNKISL
LBNAUSKORIRLKORUSAALBISLISLGRCFINKORISLDNKAUTZWE
FINURYKORAUSVCTBFALKAJPNNLD
TTO
TTOJPNHKGHKGNORNLDNLDKORESPBDIGBRBEL
CHNROUSLVTWNESPFRASLVLKAKORNLDKORGBRUSANORLCANORNORAUSSWEUSAURYNOR
SLE
NORNLDNORVCTCANKAZKORURYESPCHEBELHKGLUXTTOGRCJAMITAGBRFINNLDISLNORGBRKORNORNLDATGCHENLDUSACANITAHKGUSAISLCANESPJAMIRLCHECANTTOMUSISLNZLBELISLBELNORKORSWESWENLDGNQAUSMNGURYKORCZEPRTCZECHE
SLVBELKORFRA
MRT
BELUSAITANLDURYTHATWNLUXMUSIRLAUTNLDGRCGBRFRANLDAUTISLARGGRCNLDURYGNQURYSLVNLDCZEKORKORNLDSWENLDGBRBELLUXNLDALBSWZCANKNAJPNCHEFRAJPNURYISLKORCANBELJPNTTOBDIFRAFRACANETHCANBDISGPNLD
GAB
SURTWNTTOHKGAUSJAMLCAGBRTWNMRT
SLVHKGFRANLDCHNTWNCHELCASGPITABDI
SLVAUSSLVNLDHRVNLD
KHM
FJI
GNQ
TWNNZLFJIJPNNLDCZECHLCHNURYROUALBAUTSWZ
BTN
CHEALBCHNZWEGNQ
GNQ
AUTHKGITADEUURYTWNDMASLVKORSLVCHEGRCCHEKORCHEBLZMUSURYNORNZLAUTBLZHRVNLDCPVLUXCHEGBRATGCHNISLTTO
NLDCHNKORURYSLVCHNAUSNPLITAITADEUCHN
CPV
THAFRANLDCANCANSWEUSAUSAARGFRAAUTITAMRTIRLARGTWNCHEARGJPNTTOCHE
GAB
MUSKORTHAFJICHNITASLVVCT
MNGMUSLCAPRTJAMARGMNGURYSLV
OMN
MUS
JAM
KGZCHLISLJAM
TTO
MNGHKGCHE
LKA
GAB
CHECHESLVJAM
ARGTTONZLFRAMRTTHAARGKORNZLTWNNPLLBRJAMKORURYLKACHN
IRLLKASGPLUXFRACHEIRLTWNLCAJAMGRCMUSFRATWNLKAKAZSWZJAMCHELKA
URYMNGKORISLISLJAMCHNMNGCHNCHNPRTIRLCANCHEBGDLKATWNCANJPNARGGRCJAMSLE
THA
LCA
ARGSWEGRDCHNGABAZECHNJPNTHAJPNTWNUSAFJICANAZESWEPRTJAMJAMBLZHKGCANCAN
RWA
CHEISLJAMARGSWETWNAUSAZELKATHAHKGLKATHALKATWNNZLNORMUSCHNSGPUSAMOZPRTBIHJAMKGZCANMLIARGARGJAMSLEHKG
MUSFJISLVURYJAMKOR
GAB
MRTLKA
LKALKA
SLE
AUSLUXKORUSATTO
ATGURYMNGZAFCANARGBLZBDILUXCANCANSURURYTWNPRTNPLJAMCHNROUHKG
MRTCHLGRCSLEFJIJAMNLDCHNIDN
LBNARGARGSWESLEIRLJAMESPSLETWNCANAUSARGLAOAUSLUXBDITTOARGARGFJIPRT
GAB
TWNCHLCHLCHL
CMR
ISL
GAB
MLIARGJAMGRDLKAKORNZLAUSTUNKORJAMUSALBNCHLCMRVNMSWZHKGCMRCANISLMNGGINGNBMUS
MOZ
CHNLBR
CHNCHL
MUS
JAMTHASLESLVTHAISL
IRQTTO
TTOJPNMNGLUX
STP
SLV
ETHJAMSLE
CANJAMIRLUSAMUSKAZARGSTPUSA
LBN
KGZ
LKAARGMUSCHLUSA
LKA
ISLISLMUSAZE
MUS
HKGTCDARGUSAZAFCHNLKA
MUS
USAGRCTHANPL
ARGTWNAUSMUSCHLTWNCMRARGLCAJAMSGPUZBMUSISLKORZWEUSAARGLUX
CAF
ARGCANNPLIRLMRTARGMUSCANCANATGATGBRACHNJAMETHCANTTOARGBDIARGUSAJAMNZLARGARGMUSARGTHAUZBLCATUNIRLCHEKORAUS
AZETHAARGARGGINMUSARGHKGLCAKORUSA
SLE
CHL
MNG
LAO
GRCIRLAUSAZEHKGCPVNORJAMIRLGNQCHN
MUS
JAMCANISLHKGBRAKORCHEISLSURISL
FJI
SGPMNGCPVTJKJPNAUSCANESPARGLBNTJKCHLHKGARGCPVUSAUSAGINSLVCHLUSATUNARGARGCHNISLUZB
FJI
IRLBLZLCATWNCHNCHLGRCSUR
NPL
USATUNISLBDI
FJIMARARGARGTHABRAGNBCHL
TJKUZBIRLSURGRDARGUSATUNGINZAFTCDKORLCACMRMLITUNCHE
ETH
KAZAUSMUS
CAFIDN
AUSBLZLCAARGBRAISL
LCA
ZWEUSAARGCHL
SLE
BLZVNMGINGNBMUSCHLETHNZLLKACHNNZLCHNSURETHLCA
TUNUSACHLTUNTCDAZECHLHKGAUSETHBHSUSACHNTJK
ETH
CANLCAISLKOR
GRD
ARGMUSMUSCANNORNZLINDSWZLCAHKGCHLAUSARGMARLKALCAVNMTUNMLICANCANUSAGNBUSALKACANLKAVNMMARLKAKORCANJPNISLSURCAN
SGP
BRA
TJK
FJI
INDLUX
LSO
CHNCMRCPVTTOLBN
MRT
SLEAUSUSAAUSMNGAUSARGTJKMARUSATKMLCAMARUZBCHN
OMN
LCATHAMUSNZLAUSCAN
TJK
ISL
ETH
TTOTUNARGATGAZEAUSCANGRDCHNFJILCANZLNPLOMNUSACHL
ETH
CANZAFSGPCANSURCHNTUNESPAUSAUS
GIN
GHAMUSLKALCAVNMAUSMUSUSAARGMARSURNZLIDNNPLSGPARG
TCD
AZETKMMUS
SLEINDSLVTKMIND
TTO
AUSARGMOZCHLTUNUZBCANETHNZLIND
SGPLSO
ISLMAR
LCA
BGDGINCPVBHSMLICANTWN
LSO
GINPERTHALCAAUSINDCHNUSAGINNORLCASLVUSAIDNIDNVNMGINCMRMUSCAF
GIN
SURLCAIDNNZLKAZSWZ
BHSTJKVNMTWNGHAIDNKGZMWIMLIIDNGNBCAN
VNM
CPVPERZAFBHSLCACHLLCASURNZLCHNARGBRATKMSTPISLLBNCHL
ETH
MLINZLUSALKAVNMMLINZLMDG
ISLBHS
CHLKGZNZLTJKINDTUNCAFAUSARGMARLUXIDNBDIPERPERINDLKABGD
MUS
USATJKCHLBRAARGCAFTKMCAFCHNIDNBHS
ETH
CHLVNMMLIGINVNMMARETHVNMTHAAUSMARBOLKHMMLI
JAMCAFVNMTTOLKAAUSNORKORVNMMNGIRNKAZCHLCANCHLTUNTHANORCHLMLIUZBKHMBHSMEXAUSTWNISLVNMMRTCHLTUN
SLE
MARCANTHANZLAUSTCDBGDPANVNMINDCHESLVLCACHLIDNVNMBRAKNAMARESPMDGCODGNBESPCHL
CHLKGZCHLALBMLIAUSPERCPVMLI
ETH
TJKCHNCHNISLMLITUNGTMCHLMUSAUS
KNAAZEBRANZLKHM
LKA
BHSVNMSURBGDJAMETHPERSLVCODTURUZBLBNSURTKMTKMLKALCAARGALBATGCPVMEXCODSURCAFTURATGTHAKNAHKGIRLBFATHAISLMARIRNLKABHSIDNLKATUNKHMSURZAFIRNMARCHN
TJKFJIGHA
VNMMLIFJIISLTHAMLI
NPL
ARGETHCMRIDNIDNCHLKAZCHL
STP
LKALCATKMSURBLZ
FJICAF
INDETHAUSLKA
VNMFJI
THAPERUZBSLEMEXTUNNZLBWAIRNTHAMEXSURLKASGPGHAETHTCDIDNTWNKNA
JAM
MEXSGPLCAKNAMEXIRNBWAKHMBHSIRNMLIKNASURCHNSURTHAAUSKORBHS
ETHIRNTJKKHMBFAINDMEXMEXCAFBDITURARGMEXKAZBDINZLIDNBRAMUSJAMLKACANLUX
BGD
TURARGSURCODIDNIDNBRAMLITKM
NPL
FRAMDG
KNA
TJK
NERUZB
IDNLKABOLMEXBHSLKAISLMNGCOD
CODGAB
LUXLCAKNAKNACODLCAGTMMDV
MUS
INDKNASTP
IRLIDNMARPANTURTWNMDVALBSGP
BRAMDG
BWA
MLI
ARGMARSLEBOLAUSZAF
ETHCODZWETHATUNTWNSTPBHSEGY
TJK
LUX
MEXLUXNERLKAAZECHLMEXTURGTMTKMKNANZLIDNNZLESPAUSMEXFJITHAIRLHKGBHSKNACMRIDNNZL
MOZ
TCDLCABRAPERKNAUZB
EGY
MEXKNA
NER
EGYTKM
LBNMEXAUSBENCHLAZESGPTURAUSISLBOLSURBWA
TCD
VNMLUX
ALB
CHLKGZLUXMOZ
BHS
IDNAUSBDIATGTUNMLIMOZTCDMLI
SLECODZAFIDN
NER
GIN
ETH
ATGBWAGINCHLBOLTURLBNBOLCHLCHLSTPIDNTUNNZLNZLFJIFJIKNAIDN
ETH
VNM
INDCPVAGO
KNA
MLIBLZ
BHS
MLIFJINZLZAF
BHS
STPBOLJAMKGZUZBNZLAUSSWZIDNIDNMLIMNGTKMCHN
GNB
FJIBHSIRLMDG
BTNETH
IRNLAOLUXNER
BDI
IDNSLVNERIRNHKGTURBRATURAUS
BHS
KHMBRAGTMMDGHKGPERTWNTURTKMBWAIDNNERBRA
LAO
ZAFGNBZAFKGZ
EGYBRA
MOZ
ECUTKMTURCAN
ETH
MLI
MOZTUNTJKTCDHKGKOR
TUN
BOLTURTHABRAIDNBOLGIN
BHS
KNATWNCHEPERLCATURBRACOGSURIRN
SGP
COGZAFISLIDNTHAINDTUNBRABWALBNBOLAZEATGSGPTCDTUN
THACHLKHMNER
LBNSLVMDVNZLTCDJORCHNNER
PERBHSMLIZAFBRATURBWAESPIRNBHSBOLTUR
MDG
PANGNBBHSSURVNMAUSCODKORPANPER
AGO
SWZGTMDOMISLKNA
SLE
BWALUXKORTGOKORBHS
ALB
TURBHSMOZDOMMUSISLCMR
COD
SLE
FJISURINDCOD
JAM
OMN
MDGBHSEGYTUR
CHN
DOMSLEDOM
BEN
MEXIRNBGDCOD
BDICHNMDV
MLI
BOL
INDPERVNMECUPERCAF
TTO
MEXFJICOLMARIDNIRLBOLCHLBRAMLITUNCOLNZLMAR
IRN
TJKISLINDTCDCHLTURMEXNZLTUNCHLDJIBRA
BIHCOLDJIFJIBOLBLZGNBTUNBOLNZLIDNTURMDVZWEDOMTURBHSSURTWNTCDECU
IRQ
SGPMUSPAN
BFABENBHSPANMEXCOLIRNPERFJIDOM
MLIDOM
PANSLVBGDCOLNZLCAF
TGO
TGODOMKGZ
PERALBMNGINDNPLTUR
CAF
SGP
FJIESPSLECOLAUSHKGMEXUZBBRATURCPVTHATJKEGYAZEEGYLBNMARCANECUCOLTWNBRATCDZAFBOLBOLBDICOLTURMEXECU
TGO
TTOALB
MDGCOLMNG
ECUBHSFJISTPBHSTUNKHMMARIRQPER
BEN
ISLLCACOLPERFJIIRQSTPCOLSGPTURBWACOLCHNCOLBRAARGBDIBFADOMDOM
BHS
DOMTURNGATURMOZ
FJI
IRNCAFBRAMEXINDTURTURMARSWZVNMSGPINDGNBGHAJORSLV
TCD
TWN
AUSTURNZLLKABFAKORCOLINDKORCHLTUNDOMROU
LKAPAN
BEN
BOLTUNIDNAZEIDNEGYNZLBRAMOZ
ISLGINSTPCOM
STP
CRIEGYTUREGY
SLE
COLEGYINDZAF
CPV
DOMIRLSWZBOLBRACOL
MEXGINCRISLVSLECOLVNMCOL
BHSEGYBOLTURMOZINDDOMRWACHLMEXECUDOMINDAUSVNMJORMARIDNTURPANBFAEGYESPIDNCRIMEX
NGACPVLAO
NGA
GTMSGPINDZAFCHLEGYSTPAZEALB
MOZINDIDN
CAF
VNM
MOZCOLDOMBENEGYDOMTGOCOM
GAB
DJIDOMBOLEGY
TURLAOEGY
MOZ
CHLSLEDOMVNMGNBNERLAOPERLAOTGODOMECUISLISLDOMCOGZAFLAOSGPNPLALBECUALB
VNMMEXTURLKAKHMAUSATGMDV
BENTHAVENFJI
BHS
TURMDVEGYLAOSTPISLTUNNPL
TCD
BOLTURINDALBIND
NPL
EGYEGYBGD
CAFDOMSTPIRQ
MEXLKABRAINDDOMCOLPERGNBINDBOLTGOBOL
STP
IRNTURSENUZBJAMMDGAUSINDMARKORGNBBOLBENMUSCOLECUSWZLKATCDNZLCHL
SLE
MEXAZELAOEGYEGYMARTTOIRQGINDOMINDBHSDOMINDNZLTURCAFLKALBNINDVNMMARSTPCHLPERSENGABGINCANMOZEGYTURPEREGY
COGLAOEGYTURCOLPERMNGTURHKGINDVNMIDNLAOEGY
VNMTGO
VENINDSLE
STPMDVPRYMYSCOLEGYCOLSENCOLCAFTURCOLBENINDIRL
BHS
TUNSLEAUSSENMLIAUSCOLMAR
SDN
CAFSTPTWNINDNPLTUR
LKA
COL
ALBBDIALBGINBOLCRIESPIRLLBNBOLGINTCDTURDOMZAFZAFCHLKGZKORVNMTURSGPINDINDCOLTGOAZEBOLCOLCOLKGZHKGSTP
TCD
COMTURSTPMAR
IRQMNGESPCPVZAFBFADOMBOL
PAN
ZAFINDMDVPANGTMINDGTM
CHN
COGZAFEGYBENBOL
BOLECUINDNGAINDLKAPANIRNBHSAUSBFAAGOPER
JAM
ALBINDCPV
LAO
PANBFATUNINDTUN
COMBENBOLNPLBENMYSCRIMDVTURMLIINDCPVINDECUBFAVNMPANAUSEGY
MOZ
NZLMOZPRYGTMINDCRIGTMGTM
VNM
LAO
COLLBRETHPERCOGBWAMEXNZLEGYGIN
NGAPER
TUN
EGYCAFSTPMYS
GAB
SLV
ISL
TUN
BEN
PRYMYSVENPANBLZGIN
ALB
IRQVENMNG
VENCOLCAFEGYATG
NPL
SGPUZBINDMYSEGYEGYMNGCOMCOLGHAINDKHMPANCRIIRQ
MDG
CANGTMPANZWENPLIDNIDNCAFKORBOLMEXMWIPHLCOGBHS
SDN
PRYCOLCRI
SGP
TUNTZAINDCHLGTMIRNZAFDOMPRYHKGEGYDOM
ZWE
BOLZAF
MDVNPLVNMTUNEGYSTPJORBGDGTM
NPL
PRYAGOTGOPHLNGAECU
NPL
EGYMARNPL
CAFNERIRN
COMNPL
MYSBFABOLBOLIND
BFA
LBNZAFCHL
BHS
ALBTHABOLMYSLAO
DOMRWA
DOMMYSPANNPLSTPFJI
NPLCRINPLVENVENMARSTPPRYZAFCOL
MYSSDN
MARNGAVNMTGOECU
LKA
PRYMDGECUAGO
NGA
BTNCHLLBNBOLEGYCPVZAFSEN
PANGNBCAFCHNCOM
ECU
MYSPANRWA
MDV
CRI
BEN
BDIEGYCAFEGYMAR
BFA
MDG
BRABEN
TGONAMSGPZAFECUIRQEGYETHEGYPRYBRAPHLPRYPEREGYPRY
BRABRABRANGASTPGHA
MWIBRAMWI
ECU
CAF
GIN
BTNMAR
NPLMOZ
IRNCOLEGYEGYMUSCOLMARBDICAFAUSBOLPAN
SENLKAIDNGTMCANEGYCHLSTPVENZAFPHLCOMIND
FJI
PRYPAKNGA
BGD
MUS
MYS
LKA
BFA
SGPTGOGTMSLVPER
BTN
IRLBOLZAFDOMSWZGNBDJIBOLDJITCDMYSKORPAKINDBRA
TTO
TGO
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MLIGTMSDNHNDCOLCPV
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SEN
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SWZ
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DJIMWIMWIGINJORDJIJORDJIGNQGINDJIDJIGIN
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-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-.1 -.05 0 .05 .1Ln(Total Population)
coef = 1.4372225, (robust) se = .17364663, t = 8.28
Residuals on ResidualsTotal Emissions and Population
Figure A8: Partial residual plot. Note that the x-axis is different in the two panels of the figure. Thisobscures the difference in slopes, which are listed below each scatter plot. The coefficient on populationis significantly larger. The difference in scales is necessary for visual inspection of the role of outliers.
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Total Emissions Ratio GDP per Capita Emissions Ratio
% Working Age Emissions Population Emission Ratio
Figure A9: Results from the economic-demographic model. All variables are the outcome of the lowfertility scenario over the medium fertility scenario. Panel A (left) plots the main outcome variables.Panel B (right) decomposes the difference in emissions between sources.
27
8.6 Results with Consumption Side Measure of GDP
Table A6: Determinants of Carbon Emissions: Consumption-side
(1) (2) (3) (4)Ln pop. (a) 1.370*** 1.459*** 1.405*** 1.449***
(0.166) (0.170) (0.168) (0.199)
Ln gdppc (cons. side) (b) 0.302*** 0.302*** 0.300*** 0.324***(0.056) (0.060) (0.060) (0.073)
% Age 15-64 0.014* 0.013* 0.013*(0.007) (0.007) (0.007)
% Urban 0.007* 0.011**(0.004) (0.005)
Trade (% of GDP) 0.0003(0.0002)
Year FE Yes Yes Yes YesObservations 7133 6426 6426 5679Countries 156 153 153 147R-Squared 0.06 0.06 0.06 0.06Within R-Squared 0.026 0.028 0.028 0.031P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.027 0.008 0.018 0.025
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
28
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ARGGBRCHN
ZMB
SYRBFADJIBHSPRYZMBCOMBGRBENSYRESTHND
GABDOM
LKADJI
MDG
GINCRISLE
MRT
KHM
RWALBRLKATTO
BHS
GINTKMZWEUGAUGALCAMWIFJI
CHNSENSWZPHLVENSGPMUS
BHSIDNKEN
ARM
NGAGMBKGZTWNPERTJKGNB
BGR
TGOBGRCODGHARWAMEXBHS
CRI
TTOBRAPHL
TJK
KGZ
LUXTTO
ROUKAZIDNYEMGINUGATTO
MAR
KENNORIRL
BHSMUS
UGA
GEO
TGOJAMGHA
BHS
TURRWAZMBHNDGRCDJICODBRABLZ
TCDGAB
BHS
CHLIRQ
TZA
ZMBMDGDNKBRBROURWAURYGHALCAPRYBFAVENTURMRTGINKHM
NPL
NGAKNA
GAB
ATG
CAF
SUR
STPBDIMUSAGOCODBRBJAMSLVFJILVAISLMDGCMRCOMRUSSENMUS
GNBCOD
ECU
MRT
ARGGNBURY
GAB
CAFZMBCMRNGA
BOLETHTGOGABMRT
KHM
FJI
BHSUGAMRTINDTHAMARSGPCHLBDITCDDOMFJIZWEBLRSWZCRICAFCRIDOMGNBSTP
DJITZASTPBDI
HKG
GHACMRAGO
TUNURYGRCAUSBWALUXMEXARGBDIURYKENCHE
TTO
BGDLBNKENGNBDOMTGOMOZPHLCHLJOR
FJI
ZMBZMB
CAF
DOMJAM
TCD
GMBFINMLIALBTZAJPNNGAHKGLUXAZETTOCHLMNGDJIESPZAFLTUGHA
ISLMRTPRYIRLMLI
NPLNGACHLLAONPL
LKAESP
ECUAGOCAN
BHS
GNBMYSMDVPOLLKACMRLCACOMCOLMDGNPLHRVFRASWECOMPAK
GNQ
STPTUNMYSSDNTURTCDVENSLVBELSWZVENGMB
GNQMDGCPV
JAM
NGATKMSENGINTUNALBSENNGA
LAO
NER
CPVUGATGO
SDN
PRTLBNSWZDNKCZENERNERNPLHNDMOZCAFMARKENBENSYRGINJORLAOGBRFJI
CRIMWI
DOM
ETHCHLDOMBHSDJIGNQGAB
SLECMRNLDMRTBLZUGAMNGMDGSYRAGOETHDJIVNMSLVMDGSENNZL
SEN
BOLGHAVNMNZLCRIBFAJORPRTISLSYRKENKENRWA
NPL
TURCOMCOMITASEN
ATG
MEXITACAFGMBJAMARGGNBVCTBDIGTMECUBGDBENGINDNK
SLE
GABPERBIH
ESP
NGABHSTTOMAR
IRQ
PHLMUS
SYR
GHAPHLGNBCAFLBR
MDG
MDGNZLMWILUXSENUSAUSAJPNNPLGMBSENPANGMBNZLBRACOD
COG
JAMKORURYCOL
TTOMLIMOZ
RWA
LKANZLUSAMRTRUSHNDINDGNQTURSUR
OMN
SENIRNESPPRYSTPAUTBDIMLIJORGMBMEXBDIBTNDOMUSAMDGBHSHNDSRB
CMR
DJIGTMNZLITAJAMISLPANDMALVABRAGHAMDGURYGBRLAOTTO
BELLBRCHNSLVGAB
CODINDTURCMRTHATGOARG
NAMCHLIRNCAFGNBMYSCRILKA
SYRIDNPHLGNQLBRSURBENZMBGNBMAR
CMR
EGYSURINDTURBDIGINNERIDNCRIBEN
FIN
SURCZEHUNECU
LCA
SLVKNA
LKA
ZAFGMBCHLBRBKENRUSLKAPRTNERMUSJORKAZTGOPHLMLI
IRN
NPL
GTMMAR
NPL
EGY
PAN
JPNZAFFIN
DOM
ROU
CAFTWNISLVENUZBTURSVKATGKEN
COMKNAPRYNGAMRTIND
GNB
NER
NERSDNGABMUSGRDETHGRDNPLBGDGINPHLMUSURY
SEN
HNDCANCANAGOSYRMOZITACAF
SENTUNMOZMDGSLEUGAETHCANKORNZLSLVIND
VENMDGURYCAFSTPNERYEMMARCOLPOLIRQGINLBRTCDZAFMNGJAMUGAHNDBENPRYSWZ
PRY
JORSWZ
ETH
FINNERSWZOMNBRACHNARGBRA
ZWE
STPTUR
UGA
COG
SEN
DEUEGYARGDOMHUN
ETH
GRCTUN
COG
MOZISLCOMGTMSYRCOMVENKENISLNORGMBIRQSURDJISLELCACAFPERLKASVNCHNGTMJPNCRISGPBTNCODCHL
MRT
MLIBFAMLIMYSGHASENSLVMLIURYBOLBDITGOIDNGINCRIGTMDOM
COGAUSSDNBDIDNKNPLARGKNA
SDNISLKORBDIRWABFASEN
HKGLUXGNBUSACMR
BFA
KORCOMNZLDMAISLTURAGO
BGDISLZWEECU
GHA
SWZINDNPLGRD
BEL
CMR
BHS
BTN
FJI
MRT
BGDSENBTNPHLLKA
BRBBENUGASTPINDGNBKGZDMAMWIJAMARGNZLIND
GHAGMBSWEBLZCOLUGATUNGEOBGRGHADMAGHAFRAHNDBHSCHE
MDG
STPNORBFACRILKAFRAJORBELCRIUZBSLVFINUGAMWIHND
GHA
CHESTPCOLNLDCANRWAUKRZAFBRBROUPAN
BENLKAHNDCMRNERMLIMDGIRLJAMMUSLKAVENGNBURYSLE
NGA
TGO
IRNPRTMRTBDI
PHLMDGRWACMR
SDNSLVFINVEN
SGP
SLVCAFMDVMRTISLGRCBOLTCDKEN
GNB
SWZURYIRNKENIRQKENBLZBLZBLZRWAHNDDMA
COM
SLVNER
MDG
MDGCZEKORMLIECUBRACMRGBRDOMFIN
UGA
VENAUS
COG
LBRRWAESPFJICHLJAMFJIGMBVCTCOG
TGOMYS
VCT
CZEVCT
ETH
ZAFAUSNLDCOLBFA
AGO
UZBFJI
CAFEGY
MLISVN
CMR
BGDLUXCAF
UGA
BOLUSAJAMCOMDJIGNB
BLZNPLVCTBELCAFJORBGDBRBDJIBRBMARSLVRWAAUSPRY
ARM
MNGAUSBEN
MUSDEULUX
MLI
EGYPANSGPFRAPHLHNDHNDISLUSAJOR
LKACANDJITUNCRI
MNG
ESPBGDCODBDITGOYEMHNDBRABOLTCDECUCHEGINDNKTJKBGRKEN
KEN
SLVCPVAZEMYS
PANDNKCPVNGAMDVIRQECUPAKKENTUNBDITZAPAKAUSGINTUNJPNCHLMRTBDIMKDTHAAGODOMSURHNDISLPOLGMBFRA
TCD
SENJPNPOLSLEZAFNPL
KAZTCD
JAM
SLENORBRAJAMSVNNPLTGOBELPERBOLLAO
FJI
AUTALBMDGCOLTCDKENBFALUXAGOKENTURPRYSENGMBLBRVCT
MLIGMB
BDI
LBRCANBFACHEHRVAUSTUNHND
ESTEGYSLVURY
SYRIRLRWA
GABCAN
TTO
TTO
MDGTHAPAKMNGZAFFJI
CMR
JPNJORGBRIDNGTMISLPERLUXTUNKNAGRDKENAGOTURCOMISL
MUS
PANISLTWNGMBCOLLBRPRTNPLSTPLAONERESTJAMBDICPVCAFVCTMDG
FJI
SENMUS
LBRUKRSWEHNDUSAPRYMEXMDGCHLTTOMUSLCAIRL
CAF
BEN
ETHPAKDNK
JAMGMBBHSTGOHUN
DMAGHAZAFITAPER
TGO
URY
THACHLZAFETHCANMARROUAUSGTM
BEN
TTOGTMCOL
GAB
GHA
SEN
CAFGBRCODJORSLV
MDV
CODBOLHKGBELFJIHUNPANMWIDNKSURBTNCPVCOLPERGTMUSAFRAAUSSWEHUNFINGBRUSABHSBOLBRB
CPV
KHMCMRZMBCOMLCAMARCAFTWNKORMDGCPVPERCOD
AUSMARSLE
VENZMBPRYVCT
MUSAUSGTMMARGMBMKDSLE
PRTGINCHEMARDJIBRAFRAFINHNDJORGTMGBRTTOFRACHE
IRQ
ETH
IRNGINCHLNGASLVCOGCAF
GBRNZLNZLPRYKNAGMB
SLENLDMRTNGASUR
BFACRIBELGRD
KNANLDCODKGZBIH
MDA
IRL
UGA
BRB
SLV
AUTZWEBFAFJI
MRTCHLHNDNORNGALUXAUSUGATTOEGYMWINGAJAMNLDBGDGIN
URY
DEULBRSTPVEN
STP
ZWEDOMPRYTZAPAKCZEROUEGYSWEESPCOM
BEN
ESTMOZ
COM
TZALBNSDNISL
PRYZAFIRQESPMKD
VEN
BENVCTCOM
BTN
BLZEGYBELMARTUN
TCD
NPLVCT
ZAFSLVATGMDGKENESPMARCANBELNERBGDBFA
ECU
SENCOMPHLCPVCOLURYURYUGADNKNZLGMBAUTESPVENOMN
BOL
GTMCHEDJIGTMALBJORGMBEGYNERHUNEGYVNMTWNETHBFA
KENSLVMEXECUMWIMEXNZLMEXGTMCAFTTOIRLVENFJICOMIRLNAMARGMDA
COLBELJAM
GAB
IRNFRACHLCOMJPNBLRSLVNPLGNBPHLHNDCOLTHACHEVENCOMPANGBRMLINERGNBCOLGRCNERECU
MLICANJORBFA
CMR
NAMVENIDNDEUCHLGBRALBMWIMLITURDJINLDUSAKORBDIBDITHAJPN
BEN
TZABLRSWEETH
URYKENGINMLIKORAUSBOLGRDPRTDNKTURLUXTUNCHNPER
LKAPRTMUSJPNCANBIHLVABRASDNCAN
BFA
CODUGABOLMWIJAMZMBLCAISLAZETURURYCANNAMTGO
LUXSWEGABNERCAFSWEDEUBENPAKNORYEMSENDOMCOGCMRTCDMEXGRDPRTKENBRAUSATCDITACHNMDGINDAUTUZBPRYINDPRTBELNLDNZLITAGEO
GEOCHLLBNBRBKAZKORTUNBLZITAHRVGINNZLURYPOLKHMSWE
BOLBWA
ETH
BLZSLEMKDPERMKDMWIZMBISLZAFMARNZLSTP
TZA
USA
VNM
BOLCANLAOMYS
PRTGTMCOLTURLKA
MUS
EGYBFACHEOMNLBRURY
LKA
SWZ
VCTMYSCAN
MNE
JAM
MKDDEU
MOZVENSLV
FINMUSMLIGRCCRIFIN
TTO
ARGUGAFRA
COM
MWIBRASWESTPVENSWEGINPRT
BDI
MEXNAM
KNAPERETHCRIITAIRNCAFCMRNPLFRAJPNUSAITA
MDGFINSTPDEUMARJPNCRICMRMDGMEXGRCURY
PRY
BFA
SLE
BHSBRAMARBOLCRIIDNETHPHLVENINDBFAZAFARGUSACHEBENBELGRCTZA
KNA
DNKBOLCOMINDSWEZAFNZLSVKMUSINDSWEJPNMEXATGMOZCMRNPLPRYGHACAF
LUXBGDGTMSLEAZEPAKGRDUGA
LUXMOZNLDGEOBRBDEU
MDG
URYIDNSYRGMBINDFINURY
LBR
THALCA
ARMFINHND
FJI
GRCMRTSTPCMRBHSBRAMWI
NZLZWEINDAUTNAMPAKPRYCOLVENBTNDMAISLDNKCHEGTMJORNPLLUXTURHKGGTMCAFBELCHLCANATGMYSGRCVENNERMARBDIBELCOLCHLAUTTWNHNDZAFALBLCA
MOZOMNETHMLIBFAITAGBRMOZHKGKEN
FINGTMFJIBENHUNZMBSGPECUSWELBRGMBISLINDESPFINAUSURYAUSJAMHUNUGACOD
UGAKHMCOMNLDSENGHAGBRJOR
COG
ALB
MOZNER
NGA
FIN
DOM
AUTHUNCHEBRAHUNGMBBTNVENSENSLVLTUHNDHNDIDNCZEAUTMNGARGCRIGBRPHLBRBNOR
MEXMOZ
MDGCRIUGAMDAZAFUSAVCTLKANLDCRIPANAUSHNDJPNBGDZAFTCDESPNORSVKCOLMAR
GNQ
CHNJPNSLVTCDMAR
TZA
GHAARGMEXSWZBGDLAOAGOKHMVCTCHNDJIZAFLAODMAVENHNDEGYJORISLGHANZLBRAESPBHSCOGGTMKNAGMBPRTMARAGOCHLNORSENSENBGRPRYDMA
BOLNLDSTPJORCOLSEN
ECUSLVGINTTOPHL
ETHZAFCMRDNKEGYESPSENPAN
ESPSTP
COGATGETHTUR
MUS
COMUKRGRCNPL
FJIECUECUFINTHA
GTMNORIDNBELETHPHLESP
JOR
SLE
BEN
VEN
GHAMEXSVKVCTTKMNGAECUHUN
LAO
ITATWNMRTHRV
SDN
VENMEXSWENAMRWATZAGBRBRBTGONLDBWATURGMBLUXRWAHNDHKG
IRL
BRAPHLTJKECUIRNCRIGINJAMBELURYZAFFINCHEDEUCAFPRYDMAUZB
NPL
CODAUSGNBCANKGZ
JAM
LBR
LKAARGPERPERFINECUBOL
PANSVNEGY
NPL
ZWECOLUSAGNQROUTHAMEXSTPDNKTURGRCBTNAUSIDNURYSWEDJIVNMARGMUSTZALBNNGASWECHETUNPER
BDI
SWEGBREGYEGYTUR
LKATTO
NERTUNZAFPERPANJAMAGOAUTBRAIRNITALVAMDGNLDCRISYRBLRKENBRBGTM
VCT
COMAUTGTMMNGTURINDUSAARMAUTCRITGOAGONORBRBNOR
PRY
NORMDGSWEIRLISL
JAM
POLDMA
NZLGRD
BTN
CAFETHTHAFRAROUBLRNZLAUTZAFCOLKENARGECUATGMUSMOZGTMMARPRTBGDJPNOMNDEUNPLTZA
ZWEKORCHNSDNJPNSLEZAF
KGZ
KORNLDECUSVNNORKENCANJAMBRAJAMLAOSENFRANERUSAAUTNZLINDHUNCRIETH
MRT
KHM
ECU
BTNCHEKHMLUXDOMCHLGTMCHLETHBEN
NPL
NLDFJIFRAHKGCPVITABELUSAKENBFAMDGKENPAKINDPERVNMUSAKENLUXLKABGDMNGETH
BRALCALAODOMPERISLMEXPAN
BENMOZUGAPHLSVNBLZSENIRLVNM
LTUHNDGTMMYSDNKBHSBFADOMLAOHNDCOLBGDCOMALBATGGNBUGAMARKEN
IRLMDGSVNGRCZAFIRQURYVENLUX
SLE
GBRCHEGTMGTMAUTRWACOLIRLPHL
CPV
IRQITAALBSENSRBGTMISLUGADNKGMBSLVFINBENMARCRITJKARGGINAUSLUXNERALB
MARCANSVKBELNZLBELITAJPNTCDJPNPRTKENIRLNLDFRAGTMBGRJAMBRAPRY
DJI
INDKEN
SDN
SUR
ALB
GINGINTKMSLVGTMHKGGMBSENIRQUSACZECOLNORGMBBHSNGAPERNZLMLICODALBBGDTKMJAM
EGY
CPVSTPNLDEGYPRYECULCALCACHEDJISLVKHMGRCTJKMWIPANPAKCMRDMAMUS
AGO
MUSCMRSVK
COG
CAN
LBR
AUTIRNKGZDNK
PHLDJI
VCT
PHL
BGDCRICOLSLVECUYEM
FINMDGZAFGBRNAM
IRQ
GBRHKGGBRPANFRA
MRT
TUNBGDGBRDNKCHECHENERVEN
SLE
ATGFRA
CMR
DMACHLMRTGHAUGACOMNZLCAFDNKNLDITAEGYLBNLUXFRAIRQNORFINGMBEGYGRDESPTUNUSACZE
MUSLUXDNKGRCCZETHAPAKLAOMEXNGA
CAFCHEPOLALBITAMWIRWARWAMNGALBUSAGHA
NGA
MEX
JAM
UGAEGYBHSBDI
ATG
BDI
RWA
FINSWE
NPLFINMLIMUSPAKPAKDNKMEXBDIZAF
MDV
DJIZAFKNAGINNPL
PERDMAECU
THALKALTU
MYSBLRARGLKAUSA
SLEVNMZAFPOL
CHN
TCD
BENCHEPRTCOGPANCHEGBRPRTZAFVCTUSAMRT
FINGNBJORGTM
BLZ
GTMATGGBRFINPHLKENGMBPAK
EGY
COD
BWA
CRIKENMYSPOLECUGTM
FINPRYHNDISLCMRGNQDNKYEMSLVGRCMYSNZL
ZMBSLVJORHNDPRTNLDSVKAUT
LAOECUPERESPSTPARGUZBGTMEGY
EGY
ECUMDV
CHEROUGRDFJIBRACANCOLUGACZEBRBGRDMEXTTOIRLKENNORAGOLKAPRTGBR
ATGALBIRLITALVAUSADNKAUTBGRMDATCDPANSWEPAKCANARMMNGTHAPRYBFASWEUSANORPHLAUTFJITZAGTMCOLIRLTWN
NPL
TGOPANBLZHRV
FJI
DNKBRABHSMEXCRITURPRTCHEBRAZAFCHE
ECUNLDJORETHUGADNKNLDHUNITAIRNECU
CANDEU
ETH
JORGBRSWEZWE
FJIBENPAKSURPAKGTMBLRBELJORBELOMNLUXSENUGAMWIFRAUSABRB
LBN
SDN
GABMOZNZLSLVTKMFRACHETUN
EGYCPVGBRFINCHEPOLFJIDOMGINPRYAUSAUTBHSLBRZAFBELPANAUSUSAJPN
SUR
NLDLKACOGLUXTTOPERSLV
AUTPAN
ZMBNLD
LAO
BRBCOLGBRMLIIRNSLVDMABRA
YEM
SWEIDNLVATCDMEXHKGMKDCRISWESENGBRCANSWE
NORCHECOLBGRIRLVCTAUTDOMMDGHNDROUALBCOLPHLSLVMUS
MNE
THAMARBGRTZABOLBELAUSAUSESPDNKPOLPHLHNDCHNETHKORGBRUGAZAFFINSDNLBNINDKHMGRC
BDI
NZL
MUS
EGYVENGRCGTMNORBFAAUS
GNBBELGINIRLCOMCOGSWEROUCHNAUSPERPRT
SDN
EGYBWAGRDRUSCOLIRLBENSWZPERLVACRITUNTGOFRAIND
ETH
PANARGBOLGNQBGDEGYTHABELCOLBGDTURBENNZLUGAIRLKORECU
BIHBGD
NPL
NERCANJAMCHEBFAFINFRANORDNKTHASLESURTGOFINTJKCHEROUPHLCHEDNKGNBKGZCRICANIND
STPAUT
SLE
GRCSDNDNK
KHM
ZAFMYSGBRGTMECUECUAUSPHLLKAHNDCPVLKAPRYGNQ
HNDGABHKGMLINERALBMRTGBRDNKSENSWELVAINDZAFHUNTUR
MDG
DOMGBRNZLGTMBIHPRTMEX
ECUMNGMDGSWEGBRCANFJIITAUSAJPNESTAUTPERLUXAUTSWENLDBGDNLD
PAN
BDI
HRVCHLMOZAUSSVNNORMDG
ETH
TKMJOR
MAR
ISLMYSESPECU
CODCHEDOMNORINDATGTUNNORSURNOR
ECUIRNCMRMWIBLZPAKCHLSVNMEXKENLBRDEUNORTHACOLITADMA
BGDARGCHEGBRPRTNLDTTOPHLLCABOLATGBELLKAUSAHKGOMNARM
LKAPRTSWEEGYOMNFINGBRSLETHAGINAUTARGIDNDEUPRYSVKEGY
SYRCANLUXSURUSAIRLSWEZAF
BEN
PERTUNFJINERAUSNAMPOLHNDMDABGDGHANLDEGYBENARGMWIBGDLKAVNMBFABENNPL
PRTCHLNORTUNMARRWANZLPERNERKOR
ATG
CHEFRACHETGOIRNBRBECUMUSAUSMEXBOLSWEMRTSURGRCATGBELPAKTWNCHEBRB
HNDDMAMDGSUR
SLEMOZNORIDNMEXURYAUSGBRDEUJAMKHMFRAPRTMYSMUS
ETHPRYGHANERCHLTUNCOG
NGALTUBOLBRACRIITACRINEREGY
MLISVNAUSAUSIRNSLV
URYFINBGD
GBR
SDN
BELNPLBRBCOGNLD
BTN
TWN
STP
POLFJIGRC
GAB
UGAITANORGBRSWEFRAECU
KHMLKABEL
MUS
HNDPRYTZAGTMTGONORGBRTGOGHAALBMLINORSYRALBISLCHEIDNAUTGMBPERRWAEGYDNKCHE
TTO
NLD
TCD
CMRCMRRWAMOZ
PANSLETURNLDHUNROUZAFMARBFAGTMDEURWASWECMRBELPAKGRDFRAECU
ZAFVENLUXMNGLUXLBR
CRIESPVENUZBCOLURYTGOSENPHLMLINZLTUNHUN
BOLCMRPERCRIDMAMNGCOLBGDBOLPRTGBRTURCAFBTNMLINZLNOR
MRT
PHLFRAVNMTHASLV
SWE
BTN
SVNINDARGPOLMUSFJIBOLCZEJPNCANCHECHLPERUSACANGMBCMRPAKLBRTCD
VNM
PAKITAIDNLCACODPOLHNDSWZCZEPANMKDMARPRTCOLECUZAFKENHNDGMBPRYDNKAUSPRYNLDUGAGMBBWAPRYCANJAMBRAZAFLAOGTMHUNGRDJAMCHENLDARGAUTTCDALBCANSYRAUTCANTZA
IRLBRAINDGRCCMRBIHSLVPANHUNGRDCHLBELHKGSWECPVMDVLAOMKDBENGRC
PRY
CPVVCTBELCMRAUSPHLTTOBRBHRVGTMBOLGHAITABRBAUTCAN
PRYDJIIDNCOLTHAISLVNMURYSVKDNKURYBENMEXCANBGRGRC
KEN
PANCODIRQDNKHKGUGAHNDDJIDNKSWEITATURAZEROUPHLURYAUSUSA
EGYBOLCRI
POLCPVPOLCAFBGDBLRCOLKORTWNIRLMKDCAFDOM
CPV
GRCESPMYSNORGIN
BRBTWNMOZSLEARGUSASVKZAFUSABWALUXNORTUNHRVFRAHKGMEX
JAM
ROUFJIPOLBEN
BRASVNITAUSADNKZAFVENALB
LAO
DOMARGNLDCHLUGAGRCGBRMEXCOLCANESPGTMDOMNORBELMEXCANGRC
BDI
SLVMARITAAUTBIHMYSESP
FRABOLSWECPVCOLSVNKGZSWENZLARGCMRTWNCMRETHGBR
TZA
MWISWEGRDUSAGTMPOLGBR
ZWETHA
USABOLDOMSLESVKSWEMOZCOMDNKCHE
MLISURHKGLCAITAZAFZAFPRTCHLIND
STPBRBZMBGINLUX
IRQNAM
NZLZAF
JAM
PANCHEBENUSAIDNMRTMYSSLEBDI
FRAKORBENCHEEGYESPLVAMOZ
VNM
ETHNZLNLDBOLAUT
MRT
ZAFRWABRA
NGA
GHATURMDAMARDEUAUTNZLCOG
AGOMYS
NER
BOLNAMIRQMEXAUSGTMAUTINDCHEMDGETHIRNMNGSWEVEN
ALB
MDGPRYZAFLBRGBRGMBGBRARGUGALKA
SGP
URYBOL
KENCRI
ECU
MOZAUSFRARWAGTMBFAPAKBLRZWEESPCOLFJIGINUZB
UGA
ROUIRNPERGHAESPDNK
CHNNLDBRABFAPHLSUR
CPV
BHSMKDNZLITASVNLBNMYSIRLESP
ETH
BFABOLBHS
AUSFRAZAFOMNGINUSAPRTBTNFJICANDMAEGYSGPHNDMUSGTMURYBRBALBFRAPAKGRCNLDSVNMOZITAVNM
SEN
THAJPNDOMFRABGDCOMTGODMAHRVTGODNKUGAJPNHKGLKAMEXSWE
CRIGMBHND
GINGINBELROUAUTJAMBRBPRTSLVBELCOLSWENLDBELISLDNKKORKEN
UKRECUHNDPHLISLDNKDMASRBTURINDITAKORGHAISLTWNESPMRTNLDALBNERPRYPRTNLDCAFSWEKHM
LCA
PAKNZLPEREGY
IRN
GMBHUNCANBRAECUMEXVENGMBARMIRLDOMPERAUSDMANZLNORBRACZEMYSCRIZAFIRN
PANLTUPHLSLVURYAUTAUTIRLTTOBRB
UZBVNMLKAFRAINDRWA
BELNPLFRAPRTDOMCOLAUTFRAINDTURUSATGOESPVENPAKMUSBRBINDCAF
COD
NORTTONLDDNKITAPANGINCHEFRANGADNKNERHNDMOZEGYCANZAF
GRD
HUNGINNORLUXTURVCTGTMCPVHND
LSO
GBRCHNSLVCOMFRAFRABRAVCTCANNLDIRLCOLESPINDTZAATGNPLBLZCHENGA
ETHJPNJAMVENFRAUGACHNZAFCMR
PRYBENBEN
LKAMDAVCTFRACOLHUNKORHKGGBRNORFINSTPMUSMDANZLGRCUSABLR
ETH
MARCZELUXNORTHA
BRBFJI
CANPRYHNDMARTWNBELEST
TZACHETWNSLE
OMNBOLMKDBLZBOL
JAM
LTUUGAPHLSYRGEOLKAPANMDVLCAGHAPHLFRASYRCRIFRABRAJORHRVBGRMDABOLTWNCHEBFABEN
ZWEMARLTUFRAHUNFRARUSKORKOR
COM
MEXROU
BOLTGOBRB
CRI
VNM
HKGBFAZAFBELIDNHUNSYRHUNMEXSYRVNMPERFRANLDALBURYDNKIRLHUNMKDTWNIDNBRANLDBELSYRMEXCANCHEATGSVKLAO
TUR
MOZ
ESTIRLPERIRLDOMBELCOGPAKIRLJPNHND
BTN
PERGHARWAFRAROUZWEFRAPRTPRTCOL
PRYVENBEL
URYUSAFRA
IRLITADOM
TZA
MWISWE
BTNARGAUSUGACANAUSCRIVENBGDDJICOGPRTCANROUCHNKGZMEXLAOLKASDNPAKKENSENPANAUTSLVESTFRAARGROUMARTZADNKTWNINDUSAROUNZLPRTGBRDNKESPMDGFJI
GNQ
USAKORMDGFJIPHLARGJORAUTUSAETHTWNNGATHAVNMDNKSGPMOZNORZWESWEHKGCPVVNMBENBTNMRTRWACHN
SGP
LKATHA
FINLUX
VENUSARWASGPNORDMA
COGITAJPNAUTCPVFRAKENSGPPAKPANZAFCHLPANROUBENDMACOLCOMLKAZMBCANMKD
AGO
MDV
SGP
BLRPHLAUSFRAARMNZLIRLAUTLBRDNKPOLVNMAGOPERTGOTHACHLMARHUNLKAPANPRYTWN
KENUZBTWN
KEN
SWE
LBR
MEXJPNCHN
LSO
EGYGBRNORINDKHMBIHHKG
TTOCOGLBNKENITAHKGINDGNBKHMTHAPRYSENKNAITAVEN
TCDTWNMOZDJIKENTZAGMBTGOHNDCANGINSTP
NER
BGRSURMRTCANBOLAUTLAOCMRCHLPHLBRBNORFRAISLESPPAKSWECRIGNBJORSVKTHAVNMZAFFINUGACHEMRTVNMMLIBELBGRGRCBRABELPAKIDN
LCAESPBOLGTMAUSBRAISLBOLCRITURKORJAMESPLUXROUBRBZMBLCATWNNPLCHEPERITAKENARGOMNBELKHMOMNFINKHMPANROUNPLAUSCAFMWIPRYARGVNMHKGTWNSURCPV
HKGBRADMANERMYSCANBRABELLBR
GBRAUTPRTBENDOMFJIBTN
HUNKORSDNMARESPKENPERPRTLBNIRLNORCHNUSAMOZITAGRDMWIPHL
RWA
LUXSVNLKAHUNBLZINDNORMEXCHELBR
LKAFIN
PERBWABENMUSIDNGBRMDAIDNDOMGRDNAMDNKARM
GEOBOLBLZESPDNKECUHUNPRYBGRKNAVNMBIHMEXBEL
GNQ
CODPERNLDSLVIRLUSAGBRCANLAOHKGSLVITAISLLUXFRAMKDCHLBHSESPLAONAMSURPRY
BLZ
CZEMKDESPTGO
BLRLUX
BFAHND
OMNTURMEXBRACODGRD
ATG
GTMSLVMDACHEMEXSLVLUXESPPHLBGDNOR
CHEETHMOZARGIRLCZECHLUKRBOLLUXNOR
SLV
SWEKNAHNDBGRITAARGKORTURSLVPAKBENTUNBRBPAKITAAUSPER
MUSAUSIND
THA
GRCGINBELIRNPANZMBCAF
SDN
KNAIRNSDNCZEMUSIRLMEXIRLMEXFINBELJAM
ITALKAHNDSURSGPJPNBOLUSAARGMEXNZLCOLBGRBFAMEXGBRMEXUKR
SWZ
GRCHRVATGNORJPNITAAUT
LSO
JPNGEO
SWEPERMYSNGAFRAFJIPRY
SWESLVISL
BTNNLDNPLSGPROUPERPRYECUTWNEGY
LKACAFJPNGTM
BTN
HRV
ETH
BIHTWNCHLNLDPANGRCNZLRWABGRPERLUXAUS
SEN
MUSBRBCHLBELBELJPNAUSCOLITACOMPRYTWNCRIINDGNBUZBAGOMEXATGIRLGMBCOLCHNEGYTHAMKD
BELBGRGTM
MOZ
KOR
ATG
POLSDNUSALUXCANGRCPERAUTNORBHSKNA
SLE
URYSWZUSALAO
GEOVCTSVKZAF
VCT
ALBSVKHKGGNQ
NPL
AUTPERMNE
DOM
MOZ
MDG
STPPRYTCDINDJPNUSAROU
MUS
LUXTUNBELCHLNZLGHACANBELJORCHNKNAZWEGRDBELMNGISLAUTCANPOL
SDN
BTNMRTUGAPHLDOMZWEFJIUSADEUGBRARG
SLE
THASWEMYSTCDNLDCRILCABENZWEIDNTWNEGYBGRBGRPAKNPLCHEFIN
ETH
NORTZANLDSGPZWEPANJPNESPDOMBWAGTMKNATUNLKAMEX
ECU
AUTAZEGBRSGP
GRCJORNZLMYSHKGTHATURARGLAOPERTZA
ALB
PANKEN
AUTIRL
BHSUZBISLITAUGANORCHNHNDNLDRWA
IRNINDAUT
RWABRAPOLETHJORBLZPRTIRLATGDNKMARTHABIHNLDDNKCHEJPNLAOFINSWZSGP
LCA
NGAAUTBGRCOMPRYVCTGRCBLRBENBGDTZAURYDEUMDGBTNNORISLMLIJPNBLZHKGGRCGRC
PANAUS
BWA
DNKSEN
COM
NLDNOR
BGRAUSDOMATGUSAMYSMYS
TUR
BOL
BTNPAKMLIINDGRCMDVGRDTWNUZBLBRLTUKNABLZGINESPVNMFINBRAPHLGRCVCTMDVVENTHAINDTTOCOLVNMIRQBWADOMIRLUSATWN
SWZ
ISLESP
BFA
HNDPRTJAMDNK
TGO
RWATURINDKENMDGBOLINDJPNUGATTOLCA
BWA
AUSVNMCHNBOLESPBWAALBFJIROU
SEN
PHLPHLGBRMDVTJK
HNDMOZCOMBOLLBRLAOBENZWEMUSPAKDOMECUFRAITAGRDBGRVNMGRCLKAKORAUSPAKNPLLTUFIN
CPV
TZAFRATUNINDNZLLBNMWIAUSARGPOLBFAMNGBENSENGTMBRAECUUKRGRCPER
BLZLVASGPIDNIDNIRLITAIRLAUS
MOZARMIDNITATUNTUNITAKHMRUSDEUVNMMARPRTPERHKGECUNZLSLVUKRBLZNZLNLDIRNLBN
CHEMARTURCOLPHLATGTUNOMNBDI
BFABELSLVBGRKNAGHA
GBRHUNTGOGNQSTPSGPCHNAUSGTMTUNPHLLAO
COL
SLEBOLTWNSYRCHEGRCNZL
CPV
TTO
CHNGABDNKBELGRCCANUKRIND
BTN
GRDHKGATGIRLBTNPHL
CMR
FRAPRYLCAGHAFINMYSDOMSLETGOIDNVNMHRVETHPRTMYSKAZ
CRI
INDTUNINDPRT
KHM
OMN
GHA
TGOUSAITABENVEN
PRTCANOMNNGAISLAUSESPCOGMARLVACZENLDBGRVNM
TUN
COMBRACHN
COM
LBNNAMTCDBLZIRNMUS
CPVMDV
TURKNAMEXCHLNORBLZ
GRD
BTN
NPL
PRTCANPRTSVKIDNBLRURYIRNPANVNMPHLINDTUNGRCNORVENCHNBWAIRNLCASLVVNMCOGTWN
ATGGRDCANZMBNAMBRBVCTMWIMWIFINKNASTPZMBIDNRWAPOLBFAECUBOLGRDESTTWNAUTMWIBGRNLDURYKGZITAUGAATGGHA
GIN
GINAUTESPBGRGRCLBNCOMNAMCOMGRCGIN
CPV
PRTPOLBGR
GNQ
LBNBWALAOETHZAF
SUR
CANGINHRVMDAGNBFJIDMAALBPOLTTOKHMCOGSVK
URY
RWA
JAM
GEODJI
GEOCPV
ECUESTSURSGPMNGPRTTURAUTESP
ETH
MUSCOMVENPRTUZBCHESWEARGCHNVNMGMBGRDFIN
ATG
MEXKHMMRTTHAMRTBWABRATUN
MUS
ECUSLVNLDINDURY
GEO
LCAJAMLUXMLITZAHKGNERJORBFACHLJPNLVABGRGRCTZABGRLVACMRDNK
JOR
TURTTOTUNMYSMNGJPN
GMB
USAMYSGRCBIHTHAMDVCOMLTU
GAB
OMNGNBBFANERATGDOMLAO
ISLROUCOLIRLIDNCOLNLDPANCHNSWEROUNOR
MDG
MYSNAMINDESP
SWZ
ZWEBRADOMPANNZL
BRB
NGA
DOMGABLUXBRBJPNBGDJORMDV
COMIRLTURTZACHLCRITUNPANSURYEMBDIGNB
ATG
THAURYCPVGHACHNESPMDV
TCD
ARGHKGMNGTURSENJPNKENBELMWISGPTZANGASYR
TWNIDN
BTN
SLE
ITAESTNPLBGR
SWZ
GRCETHPHLISLMYSBRBCODGBROMNPRTPANESTSWZROUCHNBELIDNKORPRTDOMARGNZLCAFUZBDMATKMJAMMOZSWEMYSARMARGBTNBGRLBNMRTBHS
GABCOLGNBLVALTUIRNBLZTGO
SGP
MYSMKDECUGNB
SWZ
GBRYEMBDIBFAVENMYS
GEOKAZTWNTHAFINLBNEGYMEXSWEPOLGEOVENBFALKADOMKORAUTIRNEGYAUTITA
CODPANLBRCOD
MOZ
PRYJPNMDVDNKESPFINBGRNPLNER
GAB
KHMFINGNBFINIRLESPDOMMARPRYCRIZMBITAIRQPANHKGIRNNORKAZBRAISLZWEBOLPANVCTESPESPROUTWNSLVDMATWNMNG
TTOCHLJAMPERPRTMDGLAONGAECU
LKA
POLTJKSURFINLCABENCPVBHS
SGP
KHMHRVCHNESTNZLGMB
LBRTHASGPSWEINDAUSBHSJPNGRCKHMZMB
AZETWN
PRYKNAPOLCANMEXFJIIDNKHMSTPPANAUTURYCOLTZAHKGDMA
ZMB
PERCHLLCATTOMOZLCAROUHUNGRDPHLKORCHLMRTKHMBDIJORAGOECUIRLJPNTUNTWNTHACHNGBRFIN
GRDTHAPHL
GAB
COLKORUGAGMBTTOCHNNZLBRAITAGMBCHNVCTBOLNGAMNGTGOROUCPVBTNLBRRUSHRVSGPATGDJIGNBHKGIRLMDVLTUJPNMYSBWA
TKMNPL
ITAINDTHAMLI
MDG
RUSCHLGRDLAO
TWNHUNSTPGMBMWI
BWA
BTNKORIRL
THAINDHKG
GEO
JAMHKGNLDSRBSTPKORTURSLEGRDSVNMEXESTTHAFINPRTGHABLRTURGMBMUSPANTTOPHLMYSIRLDMAPHLAUTCHNDMADNKTUNECU
GNQ
BLZ
BEN
LTUBDIITALKAGNBGRCJPN
CHN
POLHUNIDNHKGIRLFJIDJI
THASTPMRTBRAPANNZLARMCRIHUNRUSCOLIRNTGOTWNVNMYEM
NER
ZWEMDVEGYCRISDNBFACHNTHAPOLSVNTURCHLMUSPRTCRIEGY
CHNBTN
ZWEROUKNASDNCPVCPVGRCMEXMRTLUXCPV
MDVLAOVENCHLAUTJPNARGAUSKHMTWNGHAKORPERKORTURJPNEGYGRCYEM
MRTARMNPL
SLE
TWNJPNTJKISLCODMNG
SEN
FRAJPNMOZESP
JORPRTGAB
MUSNORCPVNPLJPN
URY
GTMIDNPRTTHATURPRT
VNM
TWNKORSGPBFATHA
GAB
TWN
MUSIDN
MOZMUSISLBRATCD
MYSALBMYSPERGINSDNESP
GHA
BWA
MNGKNAPOLMOZMNG
FIN
GABLBR
ESTETHUGALTUNGAFINECUSGPKORESPYEMPOLKORJPNOMNMOZPRYTUNGHAIDNBRA
SGPJPNSDN
BFA
AGOROUKHMBOLTWN
BFAKORTURNERMYSSTPLBNBFASGPTCDCPV
BOLPERCODCRILBNALBBGRVNMIRNTWN
NGA
GABGNB
CHLROUBRA
SGP
HRV
FJI
IRNMLIIDN
LKA
MRT
RWADOMDJIPANALBARMKENLUXTWNMNGCODPOLTZANLDEST
SGPDJIGNQPERBLZROUBGDHKGSVK
LKAROUHKGCOM
CRIKORECU
GAB
KAZGEOFINMRTDMAMDACOMHUN
GHA
JPNSENIRNPOLUKRHKGSLEBRBGNBNPLETH
CHNMUSISLGHA
CPV
MOZDMASDNGHASDNBRBTJKDNKROUMDVPANJAMTJKJAMDOMJORCHNBGDMWIMDAMLITUNCHLBWAMYSSGP
MOZLAO
FJI
LCANZLKHMHUNFJI
GNQ
KOR
SGP
GNQCODARGMLIGABSLVKNAIRQHKGCODBRB
ETH
EGYSWZPAN
SGPGRDNLDNPLBOL
MAR
HKGVENSLELAO
GHAMWIROUIDN
TTO
KORLTURWATTOHKG
CMR
SGPVENDOMMARCHNMWIKORKAZITACRITURCPVIRLMARESP
TTO
JPNBDICHNHUNISL
SGP
CODROUZMBCHL
LAOCHLLUXCAFTGOVEN
SYRMYSGTMBGD
MLI
HNDJORLKAHUNTHAESPMLILUX
TTO
HKGJAMMNEJAMMWIVNMATGTKMSLE
POL
GAB
ROUIRNARGPERMRTDOMCODCODRWACHLBRAGRC
GRCMDVGRC
BWAESPNGA
CMRURYSURBTNURYMWIGHAVCTAGOZAF
TURUKRLUX
LCA
ZWEBLZJORPANTURTCD
MDVBTNGNB
TWNVNMGNBKORGNBTTOBLZLUXIRLTUNPOLTWNVENTUNUZBTWNDOMCHLTHAGNQNERCHNTTOAGOURYTHAESTRWAGHAETHAZENERZMBCPVBRBDMAMEXRWACRILUXEGYSGPSGPPHLMDVIRNZMBALBCHNSGP
CHNJORMDVRUSROUTURZWEHUNMLIBIH
CPV
JPNAZESURLUXBTNFJIBLZJPN
FJILVAUGA
ISLBWA
TGO
IRLJPNMDVKOR
BHSARM
KHMMYS
KHMBRALBNGAB
LBNSGPISLCOD
GAB
COGLCA
MAREGYMARDOMSGPKAZTWNSYRMDVRUSJORGHABWABTNFIN
GNB
ETHBGRRUSCHN
BRBLUXMWIVNMMLIMLIBFA
OMN
COG
PRYIDN
SWZUKRBWABGRBLZOMNINDLCATHALKAIDNTUR
YEM
ZWETWNJORDOMPHLCHNBWAMNGDOMSWZKORBHSECUDJIMOZZWEZAFGEOLVAMWIPERGABBRBKORTHASDNINDSGPCHN
CRIDMAROUGNBROUTKMETHTJKSYRLAOVENSGPROUTTOTWNDMAJORCPVGRDAGOZMBSUR
AGO
MARDOMTCD
SGP
PANISLSGPKORTTOIRNPANMLI
SGP
LBNMNG
SURGNQMNGLUXTKMBFAPRTIRNHKGJOR
GNQ
LBN
NGATGO
NGA
OMN
GNQ
JORPRYVCT
AGO
KNAHNDDMAOMN
TUNLCASURKAZMNGYEM
GAB
MRTKORIRNBRABRBMARNGA
CMRISLCODKORKAZTTOISLRWANPLCHL
BTN
SDNESPBLZTWNTZABOLHKG
KEN
GRCMARKENMRTGRDARMMAROMNYEMKORBHSJOROMNDJIEGYMLIARGKORZMBSLVBRAURY
BTN
TCDTTOLBNCMRMDVSDNCPVCMRGNB
IRQCMR
KENLUXTHABLRISLLUX
SLERWAJAM
SWZ
GRDUGALKASTPNORKAZMDVMUSSLELKA
CPV
COMMWITGOSDNCHNSWZETHHKGCHNBRATCDMWITKMIRLAGOBDINAMCOGSDNBWAIRN
TTOATG
TCDGABCOGEGYMNGCHNBWABWAMNGBWATTO
SLE
KAZURYZWESDNETHRUSEGYLUX
SLE
HKGEGYGRDJORCOGISL
JAM
ALB
CRISYR
MUS
MYSBTNFINZAFRWA
IRNIDNOMNIRQVCTSLVPRY
SGPTUNFJIZWEIRNARGCOG
BLZ
TWNCAFLBNKORPRTIDNMOZ
TGO
MAROMNKOR
TTO
SYRSTPTTOYEM
IRQ
BHS
CPVIDNALBSWZ
BHS
ETHUGACODHNDZWEGRDCODROUSGPLAOSYRMDV
LAOZMBCOGEGYVCTATGJOR
VCTARGUGATUR
MDV
CHN
EGY
GABMYS
GMBNERAGOOMNKORMNGBIHMYSEGYLBRBWATWNURY
AGO
SYRSURSENBRACOGLBN
GAB
SWZIRQ
ATG
CMRBDIZWE
MDVAGOMRT
BLZAZE
TCD
AGOBWAPERZMBSTP
BWA
ARGLCAIRN
BGRNGADMAKNACRITKMCPVGNQZMB
MUS
YEM
OMN
KHMIRQ
CAF
GABNGAMUSARGMYSGNBIRQLCA
SYR
SYR
MLICHNAGOVEN
TCDCAF
BHSMNG
SYR
IRNSURISLKORIRQSYRTURZWEEGYBWAGNQDOMIRNCHLJORTTO
GAB
GAB
VCTCOGLUXARGECUMDVGNQZWECOG
COG
SDN
SWZCOGNGAOMN
TJKMDV
AZELBNUZBMARSWZBDIAGOOMN
LBN
ZMBBDI
MUS
NGA
SYRYEMIRQ
VEN
BDI
CPVMLIIRNTKMCODLBNBWAAZECOGCOGCODRWATUNSWZNGASWZLBRLBRJPN
ZMBTGO
IRQBIHARGOMN
GNQBWAMNGMRTDJILCATHAALBSYRGABUGA
OMN
GAB
ZMB
VCTALBLBN
GNQNGAGAB
TZA
BIHTTOAZEIRQ
GNQ
SYR
TCD
AZE
TCD
NGANGABHSJORMRTYEMSYRIRQ
BIH
LBNZWEMNG
BIH
TCD
NGA
LBN
OMN
IRQCOG
GNQ
IRQIRN
MDV
GNQGNQ
GNQ
LBN
GNQ
GNQ
LBR
GNQ
SWZ
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-1 -.5 0 .5 1Ln(Output per Capita)
coef = .30173817, (robust) se = .05639012, t = 5.35
Residuals on ResidualsTotal Emissions and GDP Per Capita
RWA
BIH
RWA
RWABIH
GNQ
GNQ
GNQGNQGNB
GNQ
GNQRWABIHKHM
KHM
GHA
GNQ
GNQ
ARM
LBRARMLBR
KHM
KHMBTN
ATGATG
GEO
LBR
ATGARMATGEST
EST
BTN
ATG
BTNGRD
GEOCHN
CPV
LBR
ATG
BRBGRDGNB
ESTLVAGRD
GEO
ATGGNBLVAIRLMDAMDACPVMDA
ARM
GRDESTGRDKAZLVABGRMDACPV
GEO
KAZMDALBR
SUR
LBR
ATG
TTO
IRLMDAMDAKAZKHMDMADMAKNA
IRLGEODMA
IRLKAZCHNDMADMASUR
ALB
KNAMDA
ARMGEOBGRKNARWAALBMDAKAZKNALVAGEOGRD
GEOKAZBGR
GRDDMA
GEO
ALBATGDMAESTKNAALBBGRKNA
BGR
BGRGEOKNAPRTKAZGRDIRLSUR
MDABGRIRL
BRB
HUN
GRD
IRL
GEOHUNUKRHUNBGRUKR
ATG
MDA
IRLUKRLVA
GEOHRVGRDUKRBGRHUNHRVKNASURFINESTBTNMDAGRDLBRPRTHUNDMA
BTN
GRDALBHUNARMMDASURGRDROU
GEO
ALBUKRCHEUKRHUNIRLPRTBGRSLE
SLE
PRTDMACHEMDAPRT
CPV
BGRLVABRBMOZBRBLTUCHE
SLE
IRLLTUESTBELUKRLBN
LTU
MOZDNKHRVIRL
ALB
GNQKAZBGRBELDNKHUNLTUAUTBGR
KHM
HUN
LVAAUTBELMDAAUTLVAPRTHRVDNKBELAUTLTUAUTGEOAUT
KHM
LTUBGRBGRUKRLVAUKRDNK
DNKGBRRWAUKRSWEAUTCHEHUNLTULTUARMPRTTTOHUNGBRDMAUKRSWEROUUKRFINESTUKRLUXPRTDMALBNLUXLUXAUTBGRAUTGBRIRL
BIH
LVAROUPRTBELROULBNAUTCHEBGRLVAGBRROUURYBGRROUGBRAUTLBNBGRBGRBGRLTU
DMAURYSWEAUTURYIRLROUBELUKRPRTSWELVABGRCPVAUTDMABELPRTBGRBGRGBRBGR
DMABGRUKRAUTBLRLBNMDAAUTSLEPRTDNKITADNKDMAITALVAPRTAUTSURLUXUKRIRLBLRAUTESTLTUITAGBRGEOGBRDNKGBRLTUITA
ATG
LUXBLR
DMA
BGRGBRITABELBLRPRTGBRITAHRVUKRALBDMACHELBNLTULVAARMLUXMDALTUROUGBRHUNRUSHUNLUXITAITAIRLAUTAUTLUXBELSWELVAGEODNKKNAIRL
SWE
SURBLRLTUROULTUBLRROUAUTBELGRCBRBGEOLVAITAUKRAUTGBRRUS
TTO
BLRBLRBGRCHEBLRLTUPRTBELGBRDNKBRBBLRNZLZWEITALBNLVAURYGBRNORGEONORAUTBLRROUATGRUSRUSSURBLRLTUBLRBELBELFJIGBRDMADMABLRGBRGRDSUREST
SURBGRRUSURYSURBRBIRLZWEFINITAGBRNZLSRBAUTGBRBELNOR
ROU
BEL
DMA
BELGRC
FINSRBLVALUXIRLNORPRTIRLDMABGRBRBSWEROUFINGNQRUSROUBELBRBDNK
KAZBRBGINFINLTUHRVRUSITAFINBLRGBRGRCGBRHUNGRCESPBGRHUNHUNLUXSWEIRLGBRGBROMNSWEDNKDMAESPBELLBNGBRROUNORBLRESPAUTBELSWEDMADNKSWEGBRESPCHENZLBRBGNQITABELRUSRUSGBRHUNHUNAUTZWEZWEROUHRVFINSWECZESWEFINIRLGNQESP
LBNFINESPROUFINBGRHUNPRTSWEGBRBELFINHUNHUNBELNORARMAUTSWENORSWESWEDNKSURRUSCZEBELAUTRUSITACZEBELAUTGRCAUT
SLEGINGBRESTBGRLUXATGBLRAUTIRLFINGRCGRDDMABLRHUNGBR
SUR
HUNRUSBRBLBNNLDESPLUXNORGBRGRCIRLFINDMAROUGRCHUNFJIFRAIRLPRT
GNB
MOZDNKLUX
BFA
BGRNLDHUNGBRGINBRBGBRRUSIRLAUTROUGRCPOLESPNLDGRCLUXSWEFINHUNURYITA
MDA
CZE
FINBRBKHMFINHUNFRAROUGRCBELPOLLBRROUDNKDNKGRCDMAPRTHUNGRCGBRROUNORBELPRTGRCNORROUFINSWEROUROUESTIRLDNKITADMASWE
BRB
FRAGRDVCTCHEDMADNKBGRCZEFRA
ALB
FINHUNSWE
VCT
FRASWEBELDMAHUNITAGINHUNNZLGBRHUNBELFINESPHUNGBRFINLUXHKGITAFRANLDITACHENLD
SWZ
FINDNK
ROUNORHKGHRVBRBFINROUJPNHRVAUT
URYFJI
BELOMNBELSWEHRVDNKBIHBELITAGRCJPNHUNITARUSFRAFINNORGINBFADNKGBRVCTBFAGBRBEL
SWEPOLESTDMADNKHRVMOZVCTBELFINSWEHRVURYBRBHUNBELESPGRCITAAUTJPNCZEPOLHRVBRBFRAESPFRAROUHRVGNQCZEHUNAUTITA
BGD
BRBZWEITAITABELPOLBRBPOLNORROUBIHPOLRUSJPNHUNITABELDMAROUBRBPRTLUXJPNLUXBRBROUHUNPOLLUXAUTFINHRVPRTBELLUXDNKBGRBGRLUXFINCZEGINBELURYHUNNZLDNKVCTLUXSLEBRBITADNKDNKAUTESTBIHGRCCHEROULUXDMAPOLSWEFINHUNGBRJPNPOLVCTAUTBRBPOLBGRBRBFINDMAVCT
JAM
BELDNK
VCTSWEIRLRUSURYITAPRT
JAM
DEU
BRBNLDLBN
BELESTVCTDEUBGRALBITABGRIRLFINFRACHEJPNDEUITASWESWEESTDNKARMIRLAUTITANORNORPOLBRBESPSWEITAPRTPOL
VCT
URYITAGRCDEUCZESURDEUDEUPRTNLDFRASWECZEGBRLUXURYURYPOLROUCZEJPNPRTSWEURYJPNPRTFRANLDNORBIHITABRBROUITAITASWEAUTESTITAROUPRTITAPOLROUPRTNORURYITATTOCHESVKJPNFRA
VCTDEUDNKISLPOLPRTITABDIDNKSWEPRTBIHDEURUSTTOFINCHECHEITAITARUSAUTDNKJPNPRTFINDMAATGITAGRCNORESPTTOVCTFRA
ATG
FRABRBDEUNORFRAPOLNZLBIHGRCFRAAUTEST
ZWELUXJPNNORGBRSVKFRAJPNBFANLDITAJPNNORNORGRCJPNSWEITAPOLDEUITAJPNSVKPOLNORSVKFRAGRCITA
VCT
VCTGINTZADNKNORNZLSWEDEULUXFINDNKDNKAUTBEL
LBN
NORNOR
FINBELURYSWENORURYFINFRANLDBIH
URY
HKGLUXNORVCTVCTFRACHEITANORCZESRBJPNSWESVKDEUJAMJPNBFA
VCTDNKJPNSVKNORJPNVCTBELDEUTTOSVKAUTSVKFRAITAPRTNZLFRADNKDNKROUESPBRBNORNZLBDIGRDGINJPNJPNDNKGRCURYSVNESPFRASWETTOKAZSVNURYESPPOLVCTKNASVNPOLPOLURYSVKCHEDEUSVKARMJPN
BRB
NORNORNOR
SWEFRAVCTSVNJPNJAM
GBRNZLPOLNORURYPOLURYJPN
GNB
URYESPGBRLUXNLDBELDNKVCTSRBLCA
GNB
URYGRDSLE
ARM
ESPJPNESPVCTBELJPNPOLNZLBELFRAARMESPFINVCTJPNURYNLDIRLBRBFJI
ESPCHEGNBJPNDMANZLJPNESPHKGBFAFRADNKLCASVKHKGJPNCHEVCT
HRVGNBFINESPITAFJI
ISL
GRCSVN
ATG
GRDPOLNLDSVNBELFRATTOURYPOLNORSWEESPDNKVCTARMLUXGBRARMFRALUXVCTSWEGBRDMA
DMA
BRBFRAGRCIRLESPGBRJPNVCTARMPOLZWEFRACZEBRBLBRPOLNORBELBELSVNFINGRDKGZAUTJPNALBGRCBFA
FJI
SVNPOLFRAGBRESPARMFJIDMASWEUSAGRCMUSTTOFINURY
BRBCHESWEDEUFINBRBESPBRBBRBGRCGRCSVK
MNE
VCTSVNPOLMNE
FINNLDFRAGBRVCTCHEPRT
MUSBRBJAMGRDPOLGNBAUT
CPV
USASWE
BDI
SVKROUUSAJPNJPNOMNKGZMKD
TTOGBRSVNFINMKDNLDSWEBRB
SVKFRAAUT
MNE
USAFRABRBESPJAMESPGRDISL
BRB
MNE
LUXNZLSVKBIHLBNJPNSVKMUSNORCANSVNBRBKORBRBCHEPRTFRAVCTMKDURYPOL
VCTMUSGRDPOLDNKNLDURYBRBUSAJPNLUXUSABGDMKDBRBCHELBN
FINUSAUSABELBRBJPNPRTCHEISLESPSVNGBRNLD
MOZ
BRBESPURYDNK
URYGRDUSAPOLROUESPMKD
KGZ
JPNFRALCAFIN
TTOARM
BTN
SVKGRCESPSWEGRCPRTUSAUSANLDMUS
TTOBRBCAN
JAM
CHEURYSVKESPMUS
GRCUSAJPNNLDTTOSVNTTOESPPOLLUXROUFRAPRTJPNSVNFRATTOMKDSWEDNKDNKGRCNORTWNPOLGRDNORNLDCPVOMNSVNFRAFRAUSAJPNURY
DNKGRDFRALKAROUSVNPOLCHEBRBUSAISLPRTCHEFINTTOIRLMKDBFA
GABSWEBDIPOLJAMGBRDNKPRTNORGRCFJIGINMKDJPNPRTDNKNLDVCTDNK
URYMKD
VCT
POLDNK
FJI
DNKNZL
BFA
FRAGRD
ATGNORAUTGRCLCACHEGRCDNKFINCANNLDNZLISLTTO
FINHKGSVNUSATTOTWNPRTGRCPRTBELMKDNLDSLVNLDMKDDNKDNKESPJPNROUMWIUSASVNESPLKAAUTSWEROUPRTAUTUSA
URY
JPNPRTFRAISL
KHM
GRCTTOPRTVCTGRDSLVUSASURMKDNLDCHETWNURYLAOGRCFINNLDPRTMKDJAMROUNLDVCTCZELCAVCTURY
TTOCANSLVCHEITAGRDVCT
CHN
FINISLLUXSLV
JAM
TTOMKDIRLDEUJPNAUTROU
CPVPRTGRCGBRMKDTWNTWNCHEAUTALBSLVISLFINPRTUSALUXJAMTWNFIN
MKDCHEUSATWNLKAESPFRAROUMUSMKDGRDESPURYJAMESPLUXMKDNLDSWETTOGRCISLFRAGRCJAMFINALB
JAM
NLD
FJI
PRTKGZ
GAB
TTOSLVGRCGRDGRCMUSNLDDMA
CPVJPNJAMALBESP
KGZ
DNKATGGBRUSAALBCANSLVTTOKORISLAUTPRTPRTFINNLDURYGRCLCASLVGRCPRTFINDEUJAMALBESPNLDNZLROUISL
TTO
AUTUSABELGINHKGKORTTOESPURYGRCZWENORURYTTOFRASLVJAMBFAGRCKORFJI
KORFINLAOFINNLDFINLAOBFAHKGTTOCHEESPKORTTOJPNKORNORAUSGRCLUXESPNLDESPJPNSLVIRLESPGBRDNKALBESPUSANLDGNQTWNAUSKORNLDFINBELNLDMWIAUTATGKORVCTKORUSAFIN
KORSWENLDNORGRDISLKORKAZNORNORESPISLGBRDNKFRAISLNLDNLDFINURYTTOMUSITA
TTO
MWIGBRUSANOR
MRT
TWNDNKISLITACHNNLDISLAUSNORKORKORCANPRTLKAHKGISLCANDNKJAMCZEKORUSA
KGZ
USAJAMNORCHEKORSLVKORSWESWEIRLBELBELBDICANHKGZWEAUSTHAMRT
BELCHENLDCANGBR
BTN
URYIRLKORJAMCHEETHVCTNORGRCCHENORUSASWE
CHNSLVNLDURYURYALBCHNAUTGRCGNQTTOSGPURYISLCZEFJI
ISLURYBELBLZNLD
GAB
LUXNLDCHNNLDGBRNLDJPNTWNCANCHEALBNLDJPN
URYNLDFRAAUTCHNSLVISLGBRROUBDIKNATWNCANBELCAN
MRT
JPNTWNMNGHRVHKGARGCANNZLLCA
LCAGRCCHNFRACHNNLDURYHKGFRALUXNLDMUSSGPSWZTWNNORNLDCZEBELBELDMAJPNSURKOR
SLENLDITASLV
NLDTTOAUSCHEFRATWNURYFRALUXJAMKORKORNLDALBFRACHNGBRNZLNLDETH
SLVCPVNLDMUSTTOALB
SLV
ATGVCTMNGDEUSLVAUTNLDCZEMUSCHELBNCHEURYAUSIRLGNQLKAFJICHE
GAB
LCA
AZEARGAUTKOR
GAB
NZLGRCMNGITA
KGZHKGURYMUSCHEFJINLDTTOJPNUSAOMNITAUSA
GNQ
CHEAUTCANNPLTWNAUSCHNURYGBR
MUS
FRAJAMCHNSLVIRLCHNKORMRTITABDICANHKGSWEAUTTTOISLTHADEUJAMTWNTHABLZTHAKOR
KHM
ISLNORSLVITAARGFRAJPNITAISLLKASGPURYLKAURYHRVJAMCHNKORFRAMRTSLVITATWNCHE
FRAPRTTWNTHAJAMCHESWZMNGGNQ
SLEJAMJPNSLVURYCHECHNBLZNZLIRLTHA
LKA
CHNPRTFRAGRCTWNKAZLUXBDICHECHNCHEJAM
CHLCHNJAMMUSHKGTWNNPLAZECHESLE
GAB
JPNIRLCHNLKAARGZWENZLARGISL
CPV
CHEJAM
LKA
TTO
MNGCANJPNSLVLKASLEGRDCHLJAM
THACANMNGSGPGRCSLETWNLBRCHEGABLBNAZEAUSARGKORTTO
MRTJAMBIHHKGKOR
ETH
CHECANUSACHNTWNTHAPRTARGHKGCAN
GAB
LKABDICHNCANURYMUSSLEMOZATGLUXIDN
MUS
CANPRTFJISLVCANAUSUSABGDBLZKGZJAMTWNSWELKAURYMUSSWEIRLPRTARGMUS
KGZ
SWEMLILUXTWNJAMNZLCHLISLJAMLKALKAHKGCHLARGARGROUAUS
TTO
PRTLKALKAKORMLISWEURY
SLE
ARGNPL
GAB
CHLESPLBNCHLMRT
ZAFJAMMUSAUSCHLJAMCANZWEJAMJAMFJILCA
CANFJIARGKORNORGRDCMRAZELUXCHNUSAARGMRTGRCNLDISLCANNZLJAMCANLAO
MNG
CHNKORMUSTWNMUSAUSMNGARGCHLTHAJAMIRLTWNMNGSLEBDIUSAGNBGINISLLKATHAARGTUNTWNSURTTOLUX
SLE
MUS
USACHNCHLJAMARGJAMARGHKGVNMISLKAZIRLCANAZEUSAJAMLCAGRCMUSAUSJPNARG
JAM
ISL
MUS
SGPCHNSLVCHNHKGMUSMUS
MOZ
USA
LBNJAM
RWA
MRT
MUS
STP
UZBARGCMRKORLCA
LAO
LCACHNLUXCPVTUN
SLE
USAUSAARGHKGMUSUSAARGCANZAFSLVARGTUNARGHKGLKAKORARGJAM
JAMKORARGTHACHNCHLISLLCASGPAUSARGFJIISLLKAJAMARGARGLKAARGCANARGTJKCANBRACANTTOUZBCMRTJK
FJIHKGCHLARGLBNCHLJAMARGSLVARG
TJKARGCHETUNARGNPLARGNZLUSAUSAIRLHKGTWNISLBRAKORTUNCHNTHAARGISLTUNMNGARGBRATUNAZEAUSUSACPVCHEKORMUSNPLCAN
CMR
UZBIRLTCDCANISLUZBIRLAUSSUR
NPLLKACHLMUSARGTJKSURESP
GNBKORTHASTPISLATGLKA
FJI
GRCUSAARGTUNMUSGNQBDIVNMIRLARGMARZAFTHA
ETHVNMTUNUSALCA
SGP
USAISLCHLCHLTTOHKGHKGGRC
GIN
BRAFJICPVMLIUSALCABLZLKAISLIRLNZLMARTHAUSASURBLZISLAUSCMRARGARGCANMLIGINAUSSURGRDSURLKAMNGCHLBDI
LCA
CHECHNNORGINARGTTONZLTCDCAN
ETH
TJKMAR
GRD
AUSKAZTUNGNBTTOARGLCAAUSMUS
MRT
SWZ
LCA
CHNMLIUSAARGMWIMARMUSISLCAN
SLE
MAR
TCD
GNBNZLBLZ
ETH
GINATGAUSCANAUSLCA
LSO
CANISLMARUSA
ETHGHACHLJPNAUSUSAUSACHLNZLCHN
SGP
ARGMUSNZLCANSURTKMLUXLCACHN
ETH
SGP
CAF
USACMRCPV
MUS
VNMAUSCANUSABRACHNMUSLKAAZECHLARGUZB
GIN
CHNARGETHNPLLKAFJIETHINDCHNMNGVNMCANFJI
SGPNZLTTOGNBSLVTUN
LSO
ZAFAUSINDLBNCANUSAARGVNMGRDARGNORBGDINDMUSETHLCAAUSSURAUS
ETH
TJKNPLLCATKMNZLLCACAFAZEAUSUSALCACANSLECHLTKMNZLUSAUZBCAN
VNM
PERMARAUSCANTWNCHLCAFTKM
MUS
GINIDN
ETH
CHNGINAZECANTWNTHACMRKGZ
OMNIDNPERTJKMARIND
CAF
UZBLCAETHCHNVNMUSA
LSO
ZWECHLCANESPCHNLUXMARMUSGINSURIDNPER
TUNLKAINDATGIDNLCA
TJKKORTHAISLKGZCHNIRNVNMINDKAZCHLNORVNMOMN
TJK
GINNZLSTPTUNCPVSWZLCAMUSMAR
BHSCPVVNMMLIINDMARZAF
BHSSLE
AUSVNMIDNUSAISLTHAINDNORBGDBHSBHSBRAIDNETHCANNZLISLVNMBGDSURLBRAUSNZLVNMAUS
MLIARGAUSUSAVNMCPVCHLBHSCPVLKAIRLMARCHLETH
LKAVNMTUNGHACHLSUR
IDNISLTWNSLVJAMCHLCHLMLISURNZLCHLCHLTHACHLIDNMNGINDSLVMARBHSSLVLKA
PERIDNVNMCANBDITUN
TTO
ETHCHLMLITHAAUSUZBCHLKAZ
SLE
CAFLKATKMLKA
KHMBRACHL
TJK
CAFMOZLCABGDPERTKM
HKGLKAKGZLCA
AUS
VNMCHEKHMLKACHLTKMMEXISLATGTCDKHMKHMAUSSGPLCAIDNTKMTCDCODBHSIRNGTMSUR
TJKSURTUNALBESPNZLTHAMLI
VNMCHLALBCAFIRN
PANCMRBWAMLIKNAESPTHA
IDNFJILCAGINTURSTPBWABWALBNUZBTHAISL
PERETHARGCHLIDNTHAAUSKHM
IDN
SURCHLZAFARGSGP
JAMSURTKMMARTJKKAZLCAIRNAUSINDTHANZLIDN
CAF
GINLCAKNAMLIVNMETHAZEATGKNAMEXSLE
NPL
MDGBRATURLCALKA
BHS
FJI
IDNNORTUNETHMDGBLZMLIGHABRATWNTWNNZLUZBTURLKAATGKNALCA
SGPIRN
FJIMLICODIDN
MDGKNAISLBGD
EGYFJITWNMLIHKG
JAM
MEXLKA
KNA
GINMEXGHAFRAMDV
BHS
COD
ETHCODAUSIDN
GABCHNUZBTUNMEXBRACAFSURSLV
JAMCHL
CODMEXPERKNAKNANZL
KGZINDTKMISLARGMLICODKNAMEXTHABFAKORKGZAZECHNBRAMLI
AUSCODTUNCAFBWAIDNMEXMEXIDNCHLLBNCPVGINAUSKHMKNASWZ
EGYARGLUXCANGTM
BDI
AZEKNAMEXATGMLIMNGCODAZELBN
NPL
IDNMUSBHSARGTUNIDNBDIARGISLBDIKAZIDN
GTMMLITHATURBHSINDIRNMEXMARMEXIDNTUNLKAIDNSURARGFJIKHMNERLAO
BRAMLILCA
LKANZLZAFLUXLUXTJKIRNCHL
ALB
LUXAUSTURBOLLCAHKGTURKGZKNALUXALBMLISLEMDGTJKNZLVNMIDN
MDGTHABOL
BHSKNAKNADJIBFACODTKM
NER
STP
BRATWNNZLNERLCAGTMFJIIDNCHLTWNINDHKGBOL
STPMDGIRL
MUS
SGPBWAFJI
MOZ
IDNMEX
BHS
IRLMEXLUXPERKNAIDNGINSURTURZAFNZLETHEGYIDNTKM
MLI
AGOLAO
TURBENNZLAUS
MOZ
AUSESP
ETH
NERBDITCD
ETH
SGPMOZ
BRATURNZLCHLKNABRATHACMRZWEMEX
VNM
ETH
BHS
NER
TURLUXGNBTKMCHNBOLMLIBHSKNAKHMIRLUZBTHASLETURCODTCDAUSKOR
BTN
MOZCHLCHLIRN
TUN
STPMLIBRABRANZLTUNBRASLVZAFSUR
TCD
BRAMDV
BHS
CHEBOLJAMTURGNBMDGNERCOD
BRAMOZDOMIDNBHSSWZTURNERZAFPER
SGPEGYTGOHKGTCDZAFLBNTURNER
BHS
TURIDNTCDBOLMARBOLPANTURCAN
TTO
NZLMLITURPER
CHN
TUNATGDOMIRLMLIJORVNMMNGTURFJIAUSBGDLCANERBFAKOR
BHS
TKMSUR
PANZAFBHSGNBTUN
FJICHLZAFBWABWABLZCHLBWAISLCMRIDNBHSLUXCAFLBNMUSKNABHSBOLIRN
TJKJAM
IRNFJI
SLEMDV
STPKORISLCODALB
BOLGTMBDIGINMDV
ALBTWNFJINZLFJIISLBHSBHSAUSMEXCOLTURINDMUSIDNPANDOM
ETH
MDVMDGMARSURTUN
NGABOL
DOM
TJK
AZEMEXINDECU
MDV
BEN
COLESPSLE
VNMCOLTUR
SGP
TJKBOLMARPER
TCD
AGO
COLTWNECUSURBHSMLIBHSNZLINDTHAFJISLEECUDOMMOZCOLIND
SGPTCDTGO
BHS
BLZBHSISLBRAIRNIND
BFAGNBPERFJI
TUN
KGZ
MEXPANMEXMEXTURCHNECU
MLI
DOM
LKA
TUR
TCD
CHLKORTCDMARCHLBRAKHMBEN
EGYISLCOLCOL
BIHMOZINDTURBHSCOLMARBOLIDNBHSBRAGINCOLSGPNZLSLVHKGTURFJIGNBDOMCOLIDNPERUZB
GABTTOAUSCANBOLCOLALBSURMEXTUN
IRQ
INDTJK
SLELAO
TWNARGTUNDOMTURPANIDNLBNBOLSTPPANZWE
ECU
BOLSGPCHLDOMVNMNZLNZLESPINDTURCOLLKATCDGINSLEROUIDNTURKORTCDINDBOLNGA
EGY
INDZAFBFABWAIRNBOLCOLPANPERDOM
DOMFJIFJIAZE
MLI
BRACHNMDGCOLNPLTGOCOGTURBGDINDCPVCRISTPLAOBRASWZCOLCODMEXLAOKORDOMBRAMDVSTPIDNCOGAZEBENBHSBEN
PANBDI
BHS
JORIRNLAOEGY
CPV
ECUSLEBRAAZE
CAF
COLBRAAZEATGSTPBDITURTUNTUNNZLIRQDOMCOLMARPERJORVENSGPMEXKGZECUSLEISLDOMSLVTURVNM
SLECAFISLCAF
DOMDOMIRQBHSPERBOLINDCRIMOZFJIMOZ
COG
BOLTUREGYIRNMOZMNGDOMNZLTURMEXBHSDOMCOMCHLOMNIND
TGO
SWZ
EGYAUSMEXTURESPZAF
NGA
KGZLKA
BFAIRLDJICPVCOLDOM
TUN
BGDLAO
ZAFTURGTMEGYALBCAFDOMTUREGYGNBMEXSTPVNMBLZ
BEN
LBNEGYBENCOMBOLISL
VNMPER
NGAGAB
DOMINDTHAPERINDTURBOLEGYGNBMARDJI
IRQ
VNM
MOZ
EGYMEXIRQTURDOMVNM
GNBTGO
EGYDOMSTPINDBDISTPSGPCOLAUSALBLAOALBNEREGYKORZAFVNMKHMEGYLAOINDEGYECUDOMTURNZLGNBTURMNGALBEGYLAOCOLCHLGINUZBMLIBOL
STP
AUSISLAUSBOLMEXPERCRI
VNMECU
NPLHKG
MARBWALKA
VNM
SWZEGYCOGTUNTURINDDOMIDNCAFCHLPERBWAEGYINDTURSENEGYTWNCOGBOL
NPL
INDPERTURBOLPANMARCPVINDLAOMOZBRANPL
COGEGYCOLKORTURINDINDMARMNGMYSCANPERMDGCRI
SLETUR
SLE
STPECUTURPANSWZVNMSTPSLVGINCOLEGYINDDOMZAFVNMRWAAUSAUSCHLSTPPANCOLCOLTCDBRALKA
MOZCOLBOLBOLBENIRLCOLCOLSTPDOMTUNCOLJAMINDGIN
COGMNGSGPLKAAUSINDBENZAFGHAALBCAFNPLTGOCAFALB
CAFTCDINDZAF
JAM
IRNBOLAGOTURTUNTUNCOMSENEGYINDBENCRILAOMAR
COLIRLPERCRIZAFINDEGYBENTURPRYIND
LKAINDESPMDV
BOLTCD
TURBOLEGY
BHS
INDTGOMDVCAFBOLLKAINDCOMGIN
EGYBFACRIPEREGYESPCRICOLBHSIND
ISL
EGYMYSPANEGYECU
CHN
KORPAN
ALBINDPANIRQNZLBRACOMEGYSENNPLSLV
FJI
COLZAFCAFEGYINDLBRGTM
STP
PRYLBNEGYZAFMOZVNM
MWIBDIINDCPVBENPAN
PANPANTCDGTMCANNPLMYS
NPL
BFAIRQTGOCHLMYSEGY
BEN
EGYMARCOLKHM
LAO
TUNMEX
TCDNZLPERTTOMOZNGAMEXSTPBDIMLILBN
SDN
BFAPRYZWEEGYNPLCHLECUIRQEGYMUSNGA
MDV
MYSBGDGNBSDNNPLCPVIND
BHS
HKGZWEBOLPANPER
ALB
MYSIDNTHAMDVVENHKGGTMCRIGNBCOLINDLKANPLMYSAUS
COMDOMUZBVNMTGOPHLCOLCHLMARVENBHSSGPINDTGOVNM
DOMBOL
MDV
SLV
SGP
ZAFMYSDOMVENBRATGOEGYSTPCOLBFAATGCRIPANSTPEGYGTMGHAMUSBOLGTMGTMJORIRNCOLGINNGASWZPRYCHLBOLIRNZAF
NPL
CHLPHL
LKA
AGOGTMCAFCOM
BFA
ZAFSENDOMMWIPRYCAFGTM
BFA
LAOMYSCHNPANSTPPRYCOLBRAINDPRYMNGETHMAR
BTNMWISGPLAO
ALBBTNBFAEGYPHLCPV
TZA
MYS
COMPHLNPLIND
TGO
NPLCOGEGY
TTO
BOLEGYBRA
BTN
PER
IRQ
TUNBRAEGYMOZIDNBRA
ECU
BOLSTPECUBRA
LKA
MARRWA
MAR
ZAFRWACAF
NGA
PRYPANTGOEGYGTMMAR
ECUNPL
SDN
BOLBOLIND
PRY
BRASGPMNGCOLPRYBGDEGYMYSTKMVENIRQZAFIDNCAFCPVPERECUIRLTUNNPLEGYMYSIRNCOLNGAEGYTCDBRABGDMARAUSPRYMYSPANTCDGTMNAMBRAEGYNPLKHM
BEN
BENPAKMYSSGPMARPANECUMAR
ZAFFJISTPTHAMYSBGDTGOSTPTUNNAMZAFGINGTMTWNPAKBOLMYSNGAMAR
BTNMEXPERPAKIRNDOMPAKNERNGAINDMAR
BFA
DJICOLCPVBGDDOMSTPMARPAKNAM
SGP
ECUCANSTPKORPRYSGPSEN
MUS
CRIETHEGYPANIDN
MNGCAFEGYPHLBOLAGOPANSENLAOEGYDJI
VEN
GINLBRGTMIDNBOLTWN
TUR
DOMLBNLKABOLEGYTUNVNMSLESTPTUNCHNEGYCAFIRN
BDI
MAR
BTN
MDVIDNEGY
MDG
EGYTUNPRYHKGBOLNZLLBNVENTGOINDVENKORBHSMYSTUNKORPRYPRYZAFPRY
SENBGDBTNSYRZAFZAF
GAB
ECUPERAUSAUSCAFGTMHKGGINMDGEGYZAF
PRY
MYSPRY
UGA
ZAFPRYBGDGINCOM
MDG
GNBGRDZWE
GAB
AGOPAKIRLTCDPANBGDPERJORNPLBTNMARPERLUXECU
GAB
MYSNPLZAFDJIVENPAKSYRDJIZAFECUBOL
CAF
COGCRIZAFPRYIDNVENGNQFJIMARPAN
SWZ
ZMBTUNPRYTGOCAFDOMMAR
GNB
STPZAFEGYMARVENPAK
MDG
PRYMWIPER
BDI
STPRWASTPCODSLV
AGO
ZAFNAMPERHKGCOGBOLMNGSTPPANPER
BEN
PERGABPHLGTMUZBMARECU
MYSPANGNB
MOZ
GHABOLIRLRWAPANINDNAMIDNVENGNBMYSNAMGTM
PRY
NPL
FJI
NPLEGYCOMECUMDVTHAPRYGINBENZAFPERMAR
PANLAOECUNGAECUBDIPANTGO
NGAPANCAFMARNAMMOZ
MYS
BWA
MYSGNB
BHS
LKAVENGNBALBZAFINDLBNECUPERCAFTGOMARLKAPRYPERCHNCANMAR
GHABENPANMNGGTMIDNPRYNPLEGYGTMDJIHKGNPLOMNSWZPAN
ATGLBNBOLMYSDJIZMBLAOPERCPVMWISLVCAF
PAN
PANCMRBDI
ECURWA
BIH
MNGMOZIDNVENZAF
NAM
COMPANPANZAFIRLCOMSLVNAMSGP
ZAFALBSLVBGD
ECU
SEN
BOLUGA
SDN
BGDZAFPRYVNM
NGA
LAO
CAF
GHAUZB
PRY
CAFBGDCRICOGNGA
PAN
PAKECUDJISYRNGASTPECUTUNSENZAFZAFVENMWIMUSLBRNZL
ECU
VEN
COM
COMZAFZAF
UGA
MNG
SWZ
MDG
BDI
VENBFATURTURUGAECU
DOM
MYS
PANCOM
ECUPHLKHMCPVUGAVENCAFDJIGNBZAF
IRNPRY
ZWEBGDMARHKG
ZMBCHNCODGNBNGAPRY
ECU
NPLMAR
PANMARGNB
VEN
LAODJIDOMGHATHABGDPANZAFHNDGNB
GAB
BEN
BENPANNPL
GTMJORCAFHNDECUPHL
MDGCOMIRN
HND
PERECUKENMEXSLVSGPVENCHENGAGABPHLMDGUGAPRYBFAGNBIRNGINMYSKORNER
PRYCRICANHND
MDG
VENSDNDJI
MNG
BDICPVBGDBOLTUNPHLBOLBGDPRYJORMARECUSWZMNGGHAIRNGTMZAFCMRGINPHLBFAGNBUGAHKGMARCOD
CRI
MWIMDGZMBLAOSWZBEN
MYSMYSCODGTMCOMCOLJORLKA
BOL
MARCRILUXBWAPANAGOPANDOM
MUS
SEN
BOLHNDTGOBEN
TTOUGA
NER
MYSPRYVENBGDHNDZAFPERSGPHNDMLIBOLBOLMYSVENBOLMARRWALKA
PRY
MNGTUR
SWZ
CODMYSGABHNDBGDAGOMRTPHLLAOCRIAGOZAFGHAMDVCMRPRY
ECU
CAFBENUGATHA
COD
BLZCOLCOLGHAGNB
MAR
NPL
GHAPHLDJI
MRT
ZAFTURGRDCRINPL
GHAPRYPHLPERZAFPERGNBTGO
BEN
CRIBEN
GAB
CRIMRTCRIPERSDNZWESGPKHM
GHAHNDKENBGDPRYCOL
MRT
TGO
MDGCOM
DOMMYS
MRT
CRIPANGTM
NGA
HNDHNDMARMNG
MOZPAKNERGTMPRYTUNBENLBRPRY
MUSLBNNGANGABGDHNDMWIGNBPHLHNDCOMLBRCAFMARSLVBRAVENBGDCHNHND
ALBBLZZMB
NPL
COD
LBNNGAVENVENTKMIRNPERPRYPHLPRYGHAGHALAO
CHECRIPHLCRIPHLCAFCRIMOZSWZ
PERMDG
BENIRN
PHLPHLUGAETH
MRT
DOMIRNCRICRIBGDBLZKORBRAECUPRYPERTGOBENCOMLAOCOGVENVENCODPHLPANBLZBLZCRISYRPHL
GAB
NGA
GINNGAGABKENETHGNBKENPERNGATGORWA
IRNCAFPHLCODMRTMUS
ZAFBRAZMBHNDHND
AGO
BGDDJIMDGVEN
MYS
UGACHNGHAPERBFASDNMWIUGAUGABGD
SLVLAOPHLTURTUNGHASDNTCDSLVTHATUNBTNPERNGAPANTTO
NGACODPERTTO
ATGCODKENLBR
GHA
UGA
BWACRIMDG
BLZSDN
MRT
PANMDVIRNTZABGD
IRQ
KENPERCRICMRCRIPHLCRIPANPRYPERSLEBOLPHLNGAUGA
MDV
PERSENKENNERMNGUGAMYSMNGBTNIRNMWIPERHNDPER
SENCODGABPANIRQCAFCPVJORNAM
SEN
BTNGAB
NGA
SLV
BFA
NGAPRY
UGACODPERBLZMEXECUNGAGTMMOZGHALAOMDG
SGP
GHA
SWZMYSBRAZMBNERCHN
NGABRAETH
ATGSLVAGO
MDG
NGA
TURGTMTWNIRNPAN
HKG
GNBCOGMDGCOG
RWA
TGOPANTGOECUCODJORJORCPV
GAB
ECU
SDNGAB
TTO
SLENGA
STP
THACOMLUX
KEN
MOZOMNCOGMUS
MRT
NGA
PER
GAB
PAKIRNGHAPHLNERECUIRNSLVCRILBR
NER
BLZLKA
MUSPHLBRABRAMEXPRYPHLBDI
AUSTHABRACODBRAPHLBRAPHLPHLCOG
BENBRANPLGABPERMDVGHALUXHKG
ETH
CMRNGACOM
CAFSLV
CMR
UGAGABPANRWANGAPHL
MDG
BGDMRTCMRPHLTHAMEXKENBLZ
NGAMEXPHLPHLECUCOLPHLPANGTMLBRPRYMRTCPVTURMEXPRYLBRTHA
IRN
GMBLBR
SENIRNCODPRYHND
TKM
CMRUGABRA
MDV
UGA
DOM
PRYHNDSWZPAKCMRBOLCODPRYTGOSENCODCMRTTOGTMCANZMB
NER
GAB
MRTETHNGAHND
BFA
BRAMRTGHANGA
KORTZAECUUGACRICMRPHLPANNERCMRPAKBTNCODBRAGABNGAUGATGOPHLIRNPHLPRYGMBMRTHNDMRTCMRBLZECUGINKORCOMCMRPHLMNGPHLCODCMRPANBRA
SEN
CMR
DOMPRYGTMBDI
CMR
UGAECUOMNPRYMNGECUPAN
DOM
PRYCMRPRY
SYRPRYMYSZMBPHLBRAECU
LKA
ETHZMB
LAO
PHLMNG
GNB
IRNGTM
NGA
NERPHLPHLMNGTGOBTNSDNKHM
BOL
THA
GHABRA
MDV
LAOGTMCAFECUCHNCOG
ECU
BRACMRCMRCOLPAKECUTURMNGMEXSWZ
CMRBRACPVMEXSYRPHLZAF
LBR
PHLCAFBLZVEN
SWZ
NERBLZTTOHND
ECUMDGJORTGOCRILBR
TGOBOLBLZSYRUZB
TTO
MRTMNGPHLNPLMYSSYRCAFHKGLBR
GHASLEMEXCPVSLVRWAMYSBGDIRNHNDCOMMEXUGAPHLTGOKENBFAZWEGMBCMRSYRCOMIRNMYSNPLGINTURBRAUGALBR
NGA
MEX
COG
CMRGHAMDVGABNERLKAETHMRTECU
COG
THA
COG
ZMBKOR
TCD
COGDOM
CMR
PHL
GABCMR
THATZAHNDHNDDOM
CPV
MEXSWZMWINPL
HNDBFAJORZMBMEXSGPMYSCODGABNPL
CPVSEN
ECU
SGPPAK
CMR
PHLLBRIRNCOLCODBLZTHA
TGO
COG
CODMYSMNGAGOSLECMRCMRUGAMEX
NPL
JOR
PRYECUSWZLKA
COD
CAFECUCMRUGAETHLBRCOGTWNLUXGTM
GAB
SLVCODDOMCOG
CPVHNDTHAATGTHA
BWA
LBRGHA
NGA
MDV
PHLFJIZMBSTPMRTMEXPHLGHAMRTMWIBLZLAOGABCOGPHLHNDPHLSDN
CODHNDMWIBEN
CPV
CRIGRDAGOBDISLVTHAMNGTHANPLCOG
CRIMEXNGATHAMRTETHHNDHNDKENECUMRTGHAPHLCOLCOGHNDTHA
SLEGAB
SEN
PRYGNB
DOMZMB
CMR
COLMYSBGDSDNGHAGHAMOZPHL
COM
MWIZWE
NER
ZMBKEN
COGPHLGHAMEXZMBDJI
MDG
TGOCMR
COG
MYSCMR
COG
BLZGTMSENHNDCOGSYRUGAKENHNDHNDMEXCRICRINAMNERRWAMEXZMB
UGA
ZAFGMBCOLSDN
CRI
MYSBDINER
SYRTHA
MRTSENHNDMYSHNDUGACRI
HNDBTNGHA
SLV
HNDPAKCOGCOLIRQLBRPAKCOGMEXNERGABECUGTMSDNSDNUGAMEXTHAHNDCRINPLIRN
SWZ
HNDLAOUGASYRTZAMYS
COG
KHMCPVHKGLAOSENMEX
NGA
GHAIRNNPLMEXTHAMDVBDIGMBTHANPLLAOMEXZMBUGA
BLZ
PHLNERIRNRWA
LAO
ZWERWASENCOL
CMR
GAB
GHA
GTMGMBCOMDOMAGO
SYR
MUS
GNQ
MOZMYSGHANGAHNDNPLMOZ
MDV
GAB
COLLBN
COG
PAKGTM
DOM
CMR
BLZ
GTMGHANERCPVCOMATG
CMR
TCDTZACRIBLZMARTZABDIGTMGTMBLZNGAHKGMYSGMBMEXLBRGTMRWASENKENSYRBLZTURSLECOLMWIKENSDN
BWA
SENGHACAFMYSHND
KEN
SLV
MOZTZALBRSWZ
GAB
PAKTZACRISDN
UGACOLATGBWATURGHASYRDJIZWEMWIBLZHNDCODSLVTZAGTM
MDV
SDN
BIH
ZMBCHNSENGHAMOZ
SWZ
HNDSDNSYRGTMSEN
KENKEN
KENGTMTWNMDGGTMGHASDNGHASYRETHCOMCMRETHGMBTWNPAKSYR
ZMBSLV
HNDTHATCD
BLZ
ETHTGOTWNNGA
SEN
GTMGMBGHAKORNPL
KENMARSDNZWE
MYS
ATG
TZA
AGOSYRNGARWACODSYRGTMGMBSDNTWNGTMSENSWZAGOGNQBDIIRNATG
BLZSDNMEXPAKTZASWZSDNNGAGMBPAKMDGGHADOM
CMR
LBRCOMSYRMEX
TZASDN
TZACOGCANGTMDOMTGOZMBPAKZWESTPMYSETHSDNSDNSENSDNSWZ
MYSMOZZWEDOMMOZETHKENSGPRWAATGGTMTGOCOLGABSWZDOM
SYRETHOMN
DOMTGOMRTCRITHAMOZIRQTWNZMBHNDSDNBWAPAK
ZMBTZAGMBSENSEN
SWZBLZ
CPV
COLGTMVENMEXCHNMWIETHTZARWA
COG
COM
FJI
GNQZMBCOLGTMHNDPAKZMB
SGP
CPV
VENMRTGTMRWADOMCOLGTMKENGHASTPNGAZMBMDGIRQZMBCANSDNGHAKENSENSENGMB
AGO
COLMLISYR
SYRGTMMRTZMBZMB
COG
CAFKENGTMGTMTGOGMB
CMRCODHNDTHAZMBTZA
LBRETHDOMMUS
ETHKENMDV
SDN
COMTHABWA
KEN
TZACOGDOMZMBCMRSENGMB
BDI
PAKNAMMWILAOPAKCRICMRJORETHMRTSYRBTNMLIMEXSWZSGPETHCOM
TZA
SYRKENZMBJORZMBSDNTTO
TZANGASDNKOR
NGACPVNGAGHAMDV
HNDBDIBLZNER
CRISYRMWIBWA
CPV
MLIZMB
TZA
SDN
IRNDJIKEN
RWA
SGPMLIBDI
DOMTCDIRQETH
TCD
MOZ
BDI
KEN
NGA
ETHUGA
SYR
GMB
SDN
COG
HND
RWA
NGASEN
ZWECOGIRQRWA
CPV
ZMBKEN
SYRBTNTZASENSENMWITZACOGBFA
COGSYRSYRJORMWIBDIIRQMOZMWISYRZWEKENCRIBFAJOR
VEN
SDNKEN
AGOBENCOMLAO
BTN
SYRMRTMWI
ZMBKEN
MDV
GMBGNB
BTN
TWNCPVCODMLIBWA
SGP
BWAMWIZMB
IRQBENTZASENTGO
VENCODGNQGMB
COG
IRQSENCOMKENMDVMOZ
TCD
COMTZAGMB
BFABFASEN
PAKTZA
SYRDOMCOMPAKCOMSYRMRTIRQSYRCOMHNDBWAGMBCOMSDN
ZMB
NERKENAGOIRQZMBZWE
TGOMOZMDVBTN
MUS
MWIZMBGHASLVGMBSENHKGMWIVENPAKCOMBFASENMLIGMBSYRBENCOMCPVZWETZA
FJI
NGAMWICAFTCD
IRNSYRJORCOGHKGMDV
IRQ
MRTCOMVENTZACOMZWETGOHND
TCD
BWAHND
SYR
SYRMOZSENBWAZMBOMNGMBPAKPAKZWEPAKSEN
TGOFJIGHARWACOD
TTOBWASDNPAKPAKPAKETHIRQMDVOMNPAK
GABNGAGMBDJIPAKGMBMRTZMB
KHM
SYRGABVENIRNJORBFANGAGNQMDVZMBRWABWAMLIHKGBENKENMDVCOGBFAAGOIRQMWI
MRT
SYRSENMRTTWNCRI
SGP
BWA
LBR
RWAGHA
TCDTKMBFASEN
ZMB
CODSENTZA
ETHMWITCD
BDI
MWIMOZ
TGO
AGOMOZHND
GAB
RWANERBDI
BWAAGOGMBGMBZWEETH
FJI
SENMWIZWEVENBLZGMBVENNAMNAM
GHA
VENSLENAMCOGZWE
NAMMRTZWECOGGNQKEN
OMN
MLIHNDGMBGMBLBNMRT
VEN
MRTBTNNAMZMBHND
MDVTGOCRIOMNCOD
TCD
SYRRWATWN
SLE
GMBAGOGMB
BWA
TZA
GNQ
GAB
GNQCODGMBJORIRQ
COGVENCOG
IRQ
AGOETHGABKENGMBAGOCOMGAB
SYRMRTMRTUGA
AGO
ETH
SLVUGAMDVETHTWNBENAGOIRNTWNVENHND
IRQ
BFADJILBR
VENTZA
BTN
ETHLBNMUSVENYEMNAM
BTN
TGOBTNCODCODIRNGMBRWABENBEN
TCDTCD
TZASYRMRTCRIKEN
NAMCRIBFA
MUS
SLV
UGAJOR
BLZSYR
BWA
VENBDI
SGPBENHNDZWEMDVCODUGA
HND
KHMVENCRIMDV
SGP
TZA
BTN
CODMDGUGATZACRIMDGUGAKENBFAMWITWNKENBTNVENZWEMDGTGOMRTVEN
AGO
KENBDIBFACODBLZSGP
YEMSYR
BFAGMBGNBBENKENMOZYEMBFAMDVMDG
IRQSWZ
CRIZWEGNQ
ZWEMDG
CRI
BFA
NAM
MRTIRNUGABWAMDGBENGMBAGOKHMTCDMDGKHMKENTCDIRQKENMDG
MDGTCD
GNQ
BTN
COMGMBZMBAGOTWNBFAMDG
UGA
IRNIRNIRQBENBDIMUSRWAYEMTZACRITWNIRQGNBMWIMDGUGAMDGOMNBTN
AGO
GINMDG
CRI
JOR
VENKENKHMKHMGMBKENIRNYEMGINBENMWICODRWA
IRNKEN
KENUGAKHMGABJORBTNIRNBFARWABDIYEMSWZYEMTWNGMBKENGMBVEN
IRQ
BTNBTN
BEN
AGOTZATZATCDCRI
GAB
UGAKENGNQSDNKHMMDGGNQ
KEN
IRQBENMDG
ZWE
MLIMDGMLI
BWA
ETH
MWIMLIBFAMLIOMNUGAIRQKENKENJOROMNYEMUGA
GNQ
KENKHMBTN
KEN
BTNJORMLIMLIMDGETHTCDRWAMDG
SYRKEN
GNQ
OMNGMBBENMLIMLIMLIBTNJORKENDJI
TZAMLIBENCRITWNYEMZWEYEMVENNERGMBCODUGAKENYEMUGACODBDI
MWI
COM
ZWELBRDJIMWI
SYR
TZA
TGOBWA
AGO
SLV
JOR
BENMOZOMNAGO
TGOKEN
GNQ
TCDZWEBENJORSYRAGO
GNBZWEYEMIRQUGA
BWA
TGO
OMN
UGA
JORUGAUGAUGAYEM
VENOMN
BEN
UGAJORUGAUGANERETHBENUGANERDJI
SLETCD
IRQBWANERNERKHMYEMZWEBWA
SGPUGAIRQ
GNQ
TCDJORBWAGNBCOMDJIVENVENCODJOR
NER
NER
GNQ
GNQ
BENOMN
IRQAGOGNBBIH
JORLBNVENBIH
COM
NERNER
IRQ
GMBSWZJORKHMJORVENJOR
GNQ
GNQAGO
JORNERNER
GNQNERJOR
NERNER
COM
HKGNEROMN
AGO
NERJORVENJORVENSWZ
AGO
TCDVEN
SGPNERJORGMB
GNQ
MWIMOZCOD
NERJORJOR
YEM
MOZRWALBNTCDOMN
GNQ
GNQ
COD
JOR
TCD
TCDGMBJORSWZCODSWZRWAKHMOMNOMN
SLEOMN
SGP
KHM
SLE
SGPGMBGINJOR
GMBRWADJI
GNQ
OMNLBR
LBR
YEMKHMRWAGINGMBGMBJORJORJOR
OMN
RWAOMNMWIMWIDJISLE
YEMOMN
YEMGNQOMN
SLEJORJORLBRLBROMNOMNSLE
YEM
LBROMNDJILBROMNGINOMNLBRMWIJORDJIMWI
OMN
GINDJIJORDJIGNQ
GINDJIGINDJIDJITGORWALBRGNQGNQ
DJIDJI
DJI
LBRDJILBR
GNQRWADJIDJIRWA
JORDJI RWAJOR
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-.1 -.05 0 .05 .1Ln(Total Population)
coef = 1.370132, (robust) se = .16596225, t = 8.26
Residuals on ResidualsTotal Emissions and Population
Figure A10: Partial residual plot. Note that the x-axis is different in the two panels of the figure. Thisobscures the difference in slopes, which are listed below each scatter plot. The coefficient on populationis significantly larger. The difference in scales is necessary for visual inspection of the role of outliers.
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Total Emissions Ratio GDP per Capita Emissions Ratio
% Working Age Emissions Population Emission Ratio
Figure A11: Results from the economic-demographic model. All variables are the the ratio of the out-come of the low fertility scenario over the medium fertility scenario. Panel A (left) plots the mainoutcome variables. Panel B (right) decomposes the difference in emissions between sources.
29
8.7 Results with WDI Measure of GDP
Table A7: Determinants of Carbon Emissions: WDI
(1) (2) (3) (4)Ln pop. (a) 1.485*** 1.553*** 1.496*** 1.568***
(0.221) (0.216) (0.214) (0.226)
Ln gdppc (wdi) (b) 0.547*** 0.544*** 0.541*** 0.588***(0.082) (0.083) (0.083) (0.090)
% Age 15-64 0.014** 0.014** 0.011*(0.006) (0.006) (0.006)
% Urban 0.007 0.010*(0.005) (0.005)
Trade (% of GDP) 0.0004(0.0002)
Year FE Yes Yes Yes YesObservations 5817 5755 5755 5549Countries 153 151 151 146R-Squared 0.07 0.07 0.07 0.07Within R-Squared 0.040 0.041 0.042 0.044P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.030 0.012 0.022 0.013
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation
estimated in first differences. In all specifications, the dependent variable is the natural log of total CO2 emissions. The sample
covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the independent
variables after removing variation due to time and year fixed effects.
30
IRQLBR
RWALBN IRQLBRLBRLBR
GNBMDAGEO
ALB
CHN
GAB
LBRIRN
TCDAZEUKR
TJK
LBR
ZWE
NERDMA
BHSAZE
TJK
GAB
NER
KGZZWE
SLE
OMN
TKM
NGA
GNBTCDIRNDOMTJK
PAN
RWA
SURBHSJORMOZMDG
TGONGAIRNGAB
IDN
BOLCODTKMTJK
KGZGHAPER
IRQETHCOD
CMR
AZEIRNMDVNGASLVVCTUKRCODALBARGUKRPERCHLSYRESTUKRSYR
COG
MDG
SLVRWAGAB
LBR
LTUMUSARM
CMR
UKR
SYRNGABDIVCT
TCD
RUS
BHS
ALBSYRKENVENSLE
BLRETHPERROUIRNSLE
LCANER
COD
LVAATG
BLRVENZWEVENZWEKAZZWECHLCODIRNTTOKENMYSBDICMRJAMCODIRQCODSDNZWEPHLTKMPHLMNGCOGSDNATGBDINGANER
URYCODTHAZMBOMNZMBSYR
MWIIRNCAFSENURYGNBARGZWEMRTCODSDNCMRGABSLE
CMR
URYARGNER
GEO
SDNMNG
ETHCHN
SLEVENMARGRCZMBVCTGHASYRCRIZWESGPMEXMOZ
CAFISL
TGO
MRTMWI
SDN
CHNSDNCAF
MDG
JAMCAFINDGNQTURTCDZWEBGRMLIMWICHNSLE
KAZARGGHADJI
FJIMDALBRRWAGRDBHSROUPRTMOZMOZCHLMWIMDAKAZ
LCASENCOGTTO
CAF
ARGCOGECUMDGROULUXGHA
HKGSYR
KORCODSURDOMMLIGRCMRTATGJAMRUS
NGA
SWZCOD
GNB
KGZ
NGATCDARGSUR
TGO
GHAJAMOMN
TCD
LBR
CAF
GNQ
CODPER
FJIFJI
CAFJORBWADJIETHVENZMBGMBZWEESTBRABENSYRTCDSLVBDIBDITGONERMDG
BLRCOM
GAB
TGOCOLCOMBENARGTHA
COG
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IRNSENSLV
ALB
OMN
BGRFJIUGAGHA
GMBRUSFIN
MDGNER
INDDOMMEXSVNSGPJORMLITTOTTO
GHA
BGRPOLMRTKNAARGSURDJI
MDG
COM
ETHCAFMARTCD
ETHFJIRUSLAO
SENGNQ
NGADJI
MRT
COGCODLBRPRY
SENTCDCOM
TCD
ZWEIDNTUR
ARMCOD
BGD
GABLBR
COG
SURNER
ATGTCDTGOZWEBDIMWIUZBCOD
TTOLBRMWI
COD
CHNSUR
BRB
HNDBENLBNIRLMKD
CAF
MRT
BHS
RUS
BDI
URYARGBEN
TGO
CMR
TGOMRTKNAARGLCAVCTRUSBENBOLZMBVENVCTMNGURYSYRARGGMBPAN
UKRFINIRQ
CMR
CRIGHAISLZMBNERFJIJPN
TTOBOLSURBHSNERZWE
RWASLETGOCRITUNARGMLIHRV
CMR
BRAGABINDDJI
GAB
MLIMRTLBRZMB
NERJPN
BDI
TCDGMBTURJAMMWIHNDTGOFJI
GAB
GMBGNQ
NPLCODNERMEXCHLOMN
MRT
BEN
GMB
TCD
BHS
CMR
SEN
NGA
TURHND
NGACOMMKDVENTGOBLZLCA
MDA
BDIJAMGTMURYGRDNPLSLERWAMDGVENZWEBOLLAOSENBHS
SEN
LCAGNQJAM
RWA
SGPGBRNPLBOLZMBTCDBFASGPKENOMNCODGRDBDIMLISENNER
BFA
MLIMRT
CAF
ALBCAFMRT
CMR
PANBHS
LBR
MWILUXCOGGMBVENLVADOMMDGBDINZLCODMRTMLITGOPRY
NER
NER
OMN
IRNARGLCABDIIRQECU
IRQ
JAMMARPRYKNA
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MLI
MLI
FJINPLISLCAFHUN
SDN
BRACODBLZ
BEN
MARGINGABKGZTGOIRL
MRT
ARGBRBDOM
GNBCOGBRBNZLZMBTGOMDGROUPAKLUXLKAURYMRT
OMN
BRBMWIGNQGNBMYSZAF
GABMDGCOMBOLOMNBENBFA
BLZKENZMBETHFJIBHSCHLMARNERLVAPERFJIBDITCDDOM
BDI
LUXZMBJAMIRQ
KENMEXARGLCATCDNPL
SENTGOJAMPRYISLMDA
JAMTURMWINERALBCRI
NPL
COD
MRT
BGRLBNKORURY
SYRGTMBOL
ZMBVENZMBGNBPHLCZEPERCAFUGA
LBR
MOZTUN
NGA
ZMBCHLUZBBHSSWEIDNFINTURHRVGRD
IRQ
SENMNE
ZAFITAKENJPNPANHRV
COD
TGOKGZGRCTUNSDNARG
TCD
CAFITAZMBUSACOMNERETHBRARWAGABNERUGADMAINDTCD
BHS
BFASURDNKSURGTM
BFA
GINZMBCODSVKURYTCD
OMN
GINSLEALBRWAGNBBLZDMAVENECUROUDNKVENDNKSWEPERJPNINDIRNJAMNERKENMRTLBNMWIRWAISL
TCD
SEN
CHLHUNDOMZAFISLGNQZWEPERJORMDGIRQTCDMRTZAFDEUCOMBRBLBNVENMEXSLECODTGOTGOCANBRA
VEN
GHAGHADNKBDIBFA
VENSWESWZCOGLBRAUSPRYGRCCZEMDGGNBBHSGBRSURUZBBRBPRTPRYLBNECUNGAGMBHNDYEMLBRCODLBNJPNUSAGHAGTMSWZ
BENZMBIND
KENBOLMRTGMBFINITAPERZAFPRTSURKNACMRMWI
GNBGRDDJIJAMCHLZAFJAMIRLIRNZAFNAMKEN
NPLHUNZWESLE
GBRTCDPRYBRBBLZZWETTOSENGTMSENHNDLBRPRYNGASURCMRHNDCAFYEMGMBUSALBRMRTDEUFJIECUTUNMNG
COG
GMBMEXATG
BHS
BLZBENMOZEGY
CMR
ITAGABNERVENGMBBOLMLI
GNQ
JAMPRYBFA
EGYIDNURYSYRCAFITAZWECOGVEN
BLZFJICAFGRCGMB
SDN
MLIRWAHKGMDGTTOECUBFAVENJAMMYS
ZWEUZBBFAETHZAFCAFNORCOG
BEN
EGYCANBGRZAFOMNGBRNORMWIZAFGMBBFACMRGINBOLFJITTOCMRUKRMDVHNDJORARGNORECUHUNSTPISLSLVBWASDNCAFGTMDJI
NPL
NGAIDN
TJKCAFOMN
URYMWIDEUBRBGRCLBN
JAM
ITASLVHNDINDGNBGRDCHENERPAN
CAF
BENYEMBENCODPRTEGYESPBWAPAN
HNDBENJAM
SYR
PRTPRTVEN
FJIMDAMLIBELNPLROUGTMBDIMLI
HNDNZL
SLEMRTNERKENESPLUXPAKURYSWENZLBRAECU
COMSLENGAMYSCOGTTOBOLCHENLDTURJORCMR
TGO
ETH
SUR
PHLSLV
STPDEUCMRMEXMDGAZE
BDIGRCNLDMEXMUSTURPRTMDG
BWAISLTURBRAMKD
KGZ
BFARWAMDGIRNMKDBRBKENTGOJPNGNBLBRESPKORCHLPRYCOMIRQ
BOLVENAUSFRAMDGPERSLECANTURNLDMDGBRBBDISENCMRDEURWADJINAMNZLURYHKGPANNORLCA
MDGZWE
TTOAUSPHLPERFRATGOFRABFA
BHS
KNAGHAMOZPERIRLBGDLUX
ISL
HNDMRTISLGBRMARITAGINBHSCRIECUTZASENNORCOLUSABRAESPDNKMARCANESP
BFAPAKAUTESTSLVCOGCOLDNKCRILKA
SWZ
TTOFRACANMEXLUXLTUTKMCOMCOMNLDMEX
TCD
PRYBLZAUSGINIDNFJI
BELIRNZWECHLGBRGBRSDNPERITANERMARFRASWEBFAGNQSWZBRB
CAFBELCANIDNAUTGTMGBRMDGCHETZACRI
GNB
NGABFABRASLVPRT
COG
ISLIRQTCDNLDCRITGOCRIMDGTTOUSASYRKAZZMBBRASYRJPNNLDZWECHEMWI
BDI
BDICOLJPNGTMMNGTUNCANTCDTCDHKG
NERNORCANIRQDMAJPNFJIDOMCOMAUTLKA
JPNVEN
TZAROU
LKAGHACAFJAMNPLESPCOMKGZBDISURFRASLESVKMKDJPN
BDI
NEROMNRWAGBRUGAARG
ZMBBENCOMMDG
GBRCPVSWZMARCHNCANIRNGBR
PAN
LBRRUS
FJI
SWZBLZBFANZLDNK
NAMUSANGABRAFRABRABOLLBRHKGBGDNZLISLSWZCZEDNKMWILUXCOM
COD
ESPBLZBDI
TTODNKSWZESPNER
FINISLNAM
OMNMEXSURJORGRCDNKZAFSYRVEN
DMABWACOGMDG
TUR
MDG
DNKMWI
ZMB
ARGEGYPHLPHLMARJAMIRQ
SLE
ZAFFJIIRLTURBGRNZLCOGTCDBLZPANBHSNZL
NGA
NZLVENURYAUTCOMHKGDEUFRAURYPRTMDGITACAFCAFHNDCMRMLIEGY
BDI
NERSWESENDEUPHLECUGIN
NAMGRDBLZCAFBGRBELLUXFINITAMWITGO
GAB
AUS
MRT
BRBVCTPRYTURSWEEGYDJICODBENSENKNANGAGRD
GTM
LKA
SYRBOLURYCANCHEDOM
GAB
CODUSA
MDA
DJIECUSWZDOMGMBCAFAUTNPL
MDGFJIMEXBIHAUSSWEECUAUS
MDG
MDGPER
MDG
NER
SLE
NPL
NORMARMYSBELAUSPER
KEN
JPNTTOLUXSVNPAKBEL
PAN
VENBOLCPVGBRIRQ
GABUSAIDNGRC
GAB
JPNCMRGRDFJIPRYSURBOLJAMIRNMDG
SLESENYEM
JORGTMBLZLKADMAMEXDMANZLIRL
SLE
ZAFDMAMEXSURUSASENKENVENUSAGHALUXESPNLDHUNGINSLVAUTUSADNKCMRCOMGMBMDGMNGLUXKENSENPRY
NPLGTMSLEHNDNPLITADNKCHLVCTFRAISL
MRT
COLSYRSRBSWZRWABRABENSGPBENZMBPANBLZLKA
GABGBRGINMEXPAKPHLYEMZAFSENKENCMRPERINDBELAUTTURLUXPRYGNBBOLLBNUSAFRABELCOLSWECHENLDPRTBRACOMPANSLVGTMCHNCHLIRLSLV
TGO
GNQSLE
BENCRIDJIGTM
FJINORCOGCMRDMA
KEN
MLICODSLVSWZNPLBOLZMBBLZSLVSDNJAMMARMDGPRTBRALUXAUSCMRGHAAUTCHEBGDMYSHUNBHSMLIBRALUXBLZGHAIRN
ECU
ECU
DOMMRTGTMBENCOLKAZNPLSLE
TTO
DNKMDGTHAEGYCHEBELITATCDMWIMEXSTPLBRNLD
FJI
FJIBELJAMZWEDNKIRQURYTUNAUSGMB
IRNVENSENCHESLVMEXCPV
NPL
KEN
HNDPRYURYGRCDNK
URY
BHSSLEURY
BFAFJIDNKNZLMOZKNAFRAKNAPAK
NPL
COMUKRBDICHE
GHAGRCFJIPAKKENSWZSVKMRTESPTCDPAN
LBN
GAB
ETHJOREGYHKGKENNGACHECAFSYRBELBDIOMNBGRESP
SDN
BRBLKA
TTO
GRCINDGRDITA
KEN
COGGHACOD
SWZ
ATGGINZWEAUTSDNPRT
TTOBOLMDACANYEMVCTIRNGRCHNDKENCAFGRC
ECU
GMBSWEBDINLDTUNGMBZAFHKGCAFZWELBRGBRBFAUGAAUSPAN
BDISUR
SGPBELMDGGNBDEUBRALCARWAITAAUSHKGMLIGTMMWIGTM
BTN
PRTCANZAFAUTGNBCODPERSLVGNBSURPANNORSENZMBLKACANMYSUSASWEHNDALBEGYCRITUNSWZNZLMARDJIISLSLVFRAMDGZAFFIN
SYR
CODZAFSLVBOLSENTGOJAMSENPANNLDTCDSEN
NPLPERCHESWEZMBBGDVCTNAMNZLEGYBENHND
MOZ
TZABIHECU
NAMGHACHESWEOMNBOLGTMSENNZL
BOL
GNBZMBPAKUSALKACHE
GRCKGZGHAGTMNAMLCADOM
ZAFESPCODBFA
NPLCHLAUTGTMAUS
NPL
SYRDJIZAFETHSLETURNORNLDMYSGRDSLVDEUAUSPRYPHLCOLBRAHNDURYHKGAUTAUSSWEZAFZAFSWEAUSBLZMRTGMBAUTINDTUNBHSCHETZAVENBFA
AUTSRBFINECUNPLTURBOLGTMGBRLUXTUNNOR
DNKYEMGMBBHSNOR
DNK
SWEJPNPHLSWEGINPERMEXLUXBOLGBRCRIHNDSLEDEUGMBATGMRTINDGBRUSAFINPRYCMRMEXJORUSAGINVCTNLDAUSBELDNK
BFAYEMAUSMUS
CMR
ARGGBRZAFSWZHKGGEOHNDECULBRMEXMKDGMBSLVVNMIRN
TZA
ESPNPL
PRTDMASLVPERPAKJORCMRGTMKEN
SLEGINBGDJPNTHAUGACOLGINNAM
NERZAFJAMSLVIDNAUSAUTNGA
PRYPOL
SLE
SLEJORBOLGINECUHKGCHLCANPERGRCZWEGHACHE
MDG
COG
SWZ
VCTKEN
AUTINDHNDECUNORCODJORCAFDJITURFINKEN
PHLCHEEGYCOMTUNCRIMNGLCABELMKDMARBOLSWZKAZMEXMDGESPESPPRTLUXIRLKHMRWA
EGY
BDI
GBRMDAJAMFRAESPUSAHKGSWECHLVEN
CODMARTZAURYECUCRIBHSNLDMDGFINTHAVCTAUTMDGSWEBLZLUXPHLDEUUSABGDISLZAFNLDJPNECUPAKGNBBENTUNCZESEN
NPLFRAECU
PRY
SWZISLBENSTPNPLBOL
LBRGBR
GAB
IRNCANCANGBRPAKBDI
MRTPAN
BENKHMMDGGABIRQCOLYEMOMNZAFMNGUGAHRVNPL
ZAFITACOLCAN
FJI
NORTKMDMAYEMMNGMWICOGCHEGTM
SWZ
BFANLDMWIRWASEN
RWALKAHUNFINTURAUSZMB
NAMDOMCMRCZEPERAUSTTOSLVLUXUSACAFPHLURYFINBELSYR
COG
PHLNGAMUSMWISWZNLDDJIFINARGBOLPAK
MDA
GMBTGOPRTLKAGNQ
BENFINTGOPRTYEMBRAFJIIDNDEUCZELBRCANBFACOLESP
FJI
BWANLDPHLBENZAFSWZTZAHRVMYSINDMEXPERBRBFINPOLNGANOREGYPAKECUUGAITAMLIDNKBOLPHLCANIRNZAFLKABRB
MNE
DNKSLVNZLZAFVCTSLVFINDMA
THATTOBGDSENARMPHLFRA
GHA
KENCRICRIPERMARAUSBENVCTGHACODDEUDJIDNKITAYEMIDNNGACRIECUNORCOLJORBDISVNSLEUSACMRGEOIRLIRQURYURYPRYBOLARGKORGHAMLIESPIRL
BHS
ZAFMUSUKRFRAMRTITARWAGNBURYCOGZWENAMCAN
FJI
HNDPAKITADJIPHLBRAKENNGA
GAB
EGYAUSBELCRIHNDMKDMLIROU
BGR
PHLSLVTTOJPNAUSZAFNERJPNGRCHUN
ECU
AUTUGADNK
THA
SDNGNQMYSCHLGABCHESWEKAZNORCHETTOUZBLBRCMRMEXPHLCANDJITKMNLDUSA
ECU
CRIBGDRWAUSASWEBLRITAFIN
CPVCOG
NLDVCTGTMDNKBENJAMSWECHEZWEUSAUSAMRTVEN
SLVCAFNORNERBHSBDICHLCMRESPTGO
SURVENHUNGINSTPSENATGCHLALBGHAPHLCMRCOM
BEN
BGDMKDZAFVNMBDI
LKACOG
PRYUZBIDNLBRCOLGBRMLICANBELCOLTURGRCJAMGTMGTMPHLBRBPANMRT
COD
PAKPRT
CAFBTNGTMGBRNLD
KEN
GTMNZLFINZWELBR
NER
GHABRASWENORBHSHKGITABGDZAFCAFCANGRDGRCBENCAFCAFDOMURYFRABGDFRABRA
TTO
TURTZAFINSDNURYISLCZECANMRTKORTUNHNDBELCRIGTMTUNTUNMWIINDPRTPOLMUSPHLDEUATGGHASDNCHLVEN
INDGINCOL
EGYFINNZLCOLNORNLDKENTZAEST
GMBTHAMARNPLMDGHND
COGSLVBFADNKLVA
SWZ
CPVBFAIRL
JOR
GINGTMCOLBOLHNDCOLURYGAB
TGOMRTARG
BEN
GINCANMARZMBPANDEUATGCOGEGYNGABRALBRGHACHLNLDGHA
FINGBRIRL
HND
HNDBRBESPAUTDEUNPLZAFNLDNZLCPVCMRCOLAUSVCTTKMBFARWAKENKENNLDCOLDMABHSDOM
OMN
LCAGINYEMEGYLBR
MUS
BTN
PHL
GHA
IDNINDPHLMYSSWEATGZAF
GNBKORKENHUNFRAKORMDGTCDTHASGPCANSWEMUS
MLI
HNDGMBSWEMNGFRACHLJAMBELCANARG
BWA
KNANORIRLGRCECUDOM
YEM
PAKKORSVNCMRFRAGRCCMRHND
ITACOLPANCOLNGAGBRRWAMEXBENMEXIRNBGDFINCHEBTNUKRPRTCAFLUX
BTN
GNBDNKLUXCZEPERTZALKATGOJPNKORBLZHNDVENEGYGRDBGDESPGTMGINUGABWAMWICHLSLVGRC
SWZBELGBR
BDI
SYRTZAMYSNORSVN
NGA
DNKHRVECUBELBRABDICOGMLIGTMLUXPHLECUTGOPRYUSACHLCANMARGTMMUSDNKPAN
ZMB
BELDOM
GMBCOMJAMGMBBLZGRCMDAGMBBGDCOLSENCHLMNG
NGA
MNGLCA
HNDSURKORSENHND
URY
ZAFNLDFINKNAPRTPHLZMBUSABRBBELFIN
SWEUGASGPNERECUFRACOL
UGABELLBRGHAMEXPHLHRVITAINDAUTSWZDMA
KGZ
GNQCAF
LBRMOZTUN
SEN
MARUSAIDNPHLGBRBENIND
EGYISL
FJINZLZAFCOLLAOAUTLAOMRTSLVHUNFRALUXPRT
ECUMKD
GAB
NLDIDN
BFA
COLCANGHATHACOLGNBMOZTTOPERFJIEGYTJKECUZAFPERATGINDNLDNORHNDMKD
ARM
INDFRABOLPANZMBSVNSYRPOLNERTTOCPVPRYOMNITAIRNMYSCODBGDVCTGRDSLVSENMARSLEPHLKENBRABTNNZLGTMBENTJKBRBBLZSURKENCRI
GAB
EGYESPMWISLVISLCZENPLKNANORKAZGTMSWEAUTHKGMYSGBRZMBAUTMUSGNBNLDZAFBWANGAKHMCRILBRTZACZEHNDECU
FINCMRBTN
VNM
THA
PRY
MLIJPNSVKPHLKORNGA
DOMAUSCOLCHLLCAAUTSURGBRLKAGHA
MDG
TURETHCOLCHLBRAGBRBRBTURETHKENAUSJPNTURECUBELSLECANSLECOGEGYBELESPNLD
VCT
SVN
BFA
CHEIRLTGOPRYMNGCANNLDSLEDNKIDNIDNNAMDNKTHABRAPHLDMADNKAUT
KHMISLCOD
TCD
BLZ
TZATUN
COG
GBRFINITAPAKNZLFRAECUAUTBIHTHAKENGINGBRGTM
BRBETHGMBNORNZL
MKD
ROUBFA
CPV
MUSGNBGHAHRVCHEPANLUXBENHNDVCTITAESPHNDCOGPER
GNB
GRCMYSJPNPHLMUSSWEEGYRWAMARCODPAKBELCRIFRAAUTGNBOMNLAOMYSSVNBENSLEVENRWADOMBRBCAFZAFBRAZWEBGDPRYPHLBRBNORFINCODHKGCMRTHATZANLDRWATHAITANLD
LBRPAKMWIESPGHAIDNUZBKEN
NPLCHEPAKGBRBRAPANBRAISLBELUSADNKHUNSVNSLVDOMGHAPRTAUSGMBMKDCHLFRAESPGBRDOMJAMSWECAFCOLPRYTUNGRDSLVVNMBDI
SGP
AUSGRCSWEZMB
LCALBN
SWZ
PHLGABTUNHRVSWEMEXPERGTM
BFA
PAKDEUHKGMLIBGDLKATCDAUSBGDCAFITAUGAESPUSAARGGRCIDNECU
BTN
LCAGTMDNKTURCODNLDMARTGOPHLGHAIRLMRTIRLJPNAUSGBRHNDUZBGNBBDICOLPRY
ATGAUTLTUFRAUSA
BGD
LUXMARCOLDOMOMNUZB
JAMARGECUURYARGNAMJORAUSMWIGTMITACRIJAMYEMSLECOL
ECU
VENBELBENMWIHRVJPNIRQNORCRIDNKTJKCRIDNKJPNLCANPLMLIEGYFRANZLGEONORPAKNAMUSATHABELSDNAUSZMBCZEBOLISLUSALKAPERLUXTUNFRA
GHAAUTPAKOMNNGAUZBMUSCANGINBRBGTMISLLTUCHEKGZKORBENAUSROUMEXKNACANEGYUSASEN
GRCBELCOMBOLIRLISLEGYNORIRQGMBBOLPRYJORSVNCOLGMBUSAAZELKAFRA
BTN
GHABFA
SLEJAM
LBRCRIAZEBOLSLVNLDARG
FJI
BGDMEXFINCRIZMBSLVCHLBWABIHCRI
KENTURMWIHNDLBNPRY
TTO
BHSSWEBENCAFBRASWEHKGGBRSWZGBRJAMDOMAUTMKDBIHKENGMB
TCDRWA
SDNMEXESPTTONZLGMBKEN
SWZ
MNGPHLPRTARGPANTZAMUSINDUGAVENITAGRDBGRAUTAUSBELTGOCANFRAMEXMYSMYSNOR
COMZMB
GTMFRATJKPOLFJIBOLCAN
LAONPLCOLSLV
NORSTP
ZMB
IDNTURINDIND
KNA
DMAPRTPER
ETH
NLDOMNCZEFRAGRDPOLEGYCOLECUGBRMKD
CPV
SDNNGASDNITACANDNKUSA
NPL
MLISDNMDGLKASENLVAESP
SGPBGDECUFRAMWILUXMLINLDGRCHRVLUXMUSTKMBELCHEISLTUN
COG
VEN
NPL
PHLBENATGFINPRTISLCOLZAFAUSGRDJAMNGAMOZPOLCZETHAFRA
TTO
IDNNZLNGA
GMBMDG
ARGLUXMEXGBRBGDCODSYRTUNAUSCANLAOBGDAUTNZLBOLAUTVNMNERBRB
SLE
BFA
BRB
CAFMDVUZBSURISLIRQGTMBELCANBDINPLNPLLUXBGRCANVNMZAFESP
RWA
NAMSVNMDVGRCBIHGEOPAKATGGHAAUTDEUSWELUXKAZNERBGDCMRSVKHUNMEXPERCHNHNDSWEVCTUSAISLCOLTURDOMAUSAUTLBNCOLGNBALBMLIKOR
ATG
DMAMEXMEXDNKATGDOMLKALKA
BGDALBMRTSYRJORKNATTOITAALBMOZ
YEMJORJPNCRILAOLKABTN
SGPPANCMR
ZWEBEL
MOZ
CPVSGPGRCTHAMEXTGOBELTUNFJICHLITARWA
IDNCANCHECRIPRYBELIRNURYSVNSWEPANKGZFINAUSTHAAUSJORNAMLBRSWELAOECULKALKABLZSWZLCADOMMKDIRNCMRPHLJOR
DMA
FRAUZB
LAO
ALB
GHANPLJORPER
KHM
IDNTUNKORSWEBTNBRA
VENTJKTUN
KNA
BENPANISLLTUBENGABTZABLRLKAHUNTKMAUTBLZ
GRCDMAGBRVNM
TKMGINGRCNOR
MRT
DNKPHLGBRTURGMBNORFRARUSTUNBELUSAARGITASURFINCOGLKAGNBPOLMUSUSAVNM
BOLNORCHNIRLITA
BTN
IRNGAB
SGPSLEIND
GAB
BENIRQPANSRBFRA
CAF
TGO
EGY
SGP
NAMCOMUKRCPVSWEBELESPPHLPANCZE
SENIRLHUNFRATTOLUXZMBMYSEGYNORBFADOMKHMSWEPERIDNMOZMKDBGRNOR
URYSVNVEN
BOL
SEN
KORBEL
TZA
BGDUSADNKSENHNDJORARMMDGNERBHS
THAHNDITAISL
GHATTO
BHSSENZAFMRTMYSHKGCODBTNIRLTUNGMB
SLE
BDI
PERCOL
AUSPOLTURMWIJPNOMNAUTUZBTCDMLISVNINDZWEMLIAUTPAN
BFAPRYSDNBWAISLAUS
SDN
SYRESPUSAZAFNPLCRIBWAMNGNER
SYR
MEXSVKARGFINSWZESPVENGEO
CODHNDMNGBRACAFATGMWIBELTURMARFINCODIDNIRLUSACOLJPNSENOMNPRTTHA
INDURYECUFRAAUSGABCHLCHNHKGBELPHLHUNJPNPAK
TTO
NLDSURPHLCRIBFAMAR
DOM
CHL
SWZ
DMATTOEGYESPESPCRITHAGTMINDMYSJPNSVKPAKBELFRALAODNKITAPERVCTBWA
ECU
CHEMYSFRALCAITABGDKNANORBFAGBRISLTGOTZAPRTBGRINDTUNCZEPAKNPLBELJORNERGRCMDG
BRB
ZWEBHSFINITATUNCHLBRB
MEXAUTSTPFIN
MNG
LUXTGOIDNESTTURBOLSGPLBNLKAKORDNKCANCPVGTMBGDUSA
GRD
FRAMYSSURNORBLRSURFJIEGYVENBGD
VCT
NPLBFAVNMRWAUSAJPN
BDI
MNGROUMARCOLCRISWEUZBSVKFRACOGNOR
LCAMRTTHABWAKORFIN
NGA
ZAFJORDOMFJIUSAKNA
SENDJIMYSCPVBELMARAUSGRDSVKTJKALBNERIDNBHSDOMCANAUTIDNBGRRWAJAMBFAIDNBEN
COG
CANTUNMNGECUBGDLKAMWITHAMDVGEOVNM
FJI
KENCANGTMNLDZWE
SDN
TUR
TTO
AUSGMBEGYIRLZMBUGABWAURYAUTGTM
MOZCOLEGYKENNLDPANHKGMWIMARPRTMUSKEN
PRTKGZ
LCAESPPAK
SGP
NLDUSAALBVNMLKAAUSPERBRALKAIRLBGRSWEKGZ
NPL
IRLITARWAGTMBRBSTPLAOPHLLKA
GAB
CMR
LAOCOG
BIHSWENLDTUNBRAHUNLTUGRCPAKJAM
BELMEXUGA
SWEAUTCODCOGRWANLDJORBGD
SLVESPSGPINDESPPRTIRN
LSO
CRIFRARWABGDBGRARGPRYLKAMNGBOLVENSWEFRADOMNLDLCACOLCRIISLPOLVCTPRTIDNEGYGBRJPNFINHKGBDICANSLVPOLIRN
SGP
LAOIRLINDCHLUSAMYSCOGPHLMLILAOBGRAUTPRTCOLAUTSLEITAINDLUXVENMDAFRABGRTURCZEZMBPAN
SYR
TZAESPTHALKAVCTBELBGRGRCMOZSVK
GHA
ALBCANINDTURSLENLD
ALB
MRTBOLNZLSGPFINDOMITANGASDNCANURYPRTZMBSVKIRNDEUSDNDOMALBSYRMUSATGCPVCRINGA
BTNPRY
LKA
TTONORSWEISLPRTAUTIRNCHECHNLKADNKRUSLAOTUNVNMPOLEGY
GAB
IRNNERUGAPANBOLTTO
MEXPERVNMBRAVENPERGRDVNMMKDSWERUSKHM
ECU
LAONGAGBRPOLSDNIRNCRI
SEN
ESPCHLTHAKNA
BWA
SLENZLHUN
SLE
PRTTUNPHLMLISDNDNKTZAGNBNPLPAKTHATUN
SLE
JPNITAAUS
FJIVNMARGPRYPERTUN
THA
GAB
SENPER
NLDLBRTTOGHABFAMNGISLECUMARPAKPRTISLKORBFABFALTUKENIRLOMNIDNHNDBIH
SLVHKGNPLMWIGNB
UZB
ITAJORNLDBIHFRABWAOMNMUSTUREGYISLVCTMYSCRITGOIRQAUTUGAPRYITABFAPOLGRDESPNORLAOCOMMEXYEMBWARUSMRTEST
TGO
PRTGRCNZLLKAAUT
TUNLAOLUXNLD
FINZAF
CRIVNMBWA
SLE
BWAIRLMYSZWEHKGPHLSVKJPNCOGEGYKHMSDNLBNCRILKA
TTO
SGP
CAFIDNSLEHNDCRIARGIDNBFAMUSGBRMARMEXCOLSLVBRATCDNZLGHAUGABGDLUXCAFGRCCANPOLNORSLE
GEO
UGAAUTSVKMWINPLDNKMUSKGZUSAFINTCDSVKSWEHRVVENBELMYSHKGSRBMUSLCALUXMOZ
ZMB
OMNARGCOLKNAMEXISLIRNNERGNBRUSIRLINDBENYEM
SVNTHA
COG
BLRTHABGRINDFINJPNARGCPVKAZEST
BLZBEN
GNBCRIMLIFRAHRVKENBIHZWESYRBGRBLZLKAGRCBRBINDFJIIDNMOZTJK
NGA
TURTGODNK
BOLLKA
PAKIRQ
DOMMYSUKRDOMKAZ
GEOUGANORKORGBRNPLTUR
SLE
BDIUGAVCTTHAITACZECOGSDNISLVNMTURPRYCANBOLSDNLBRHKGGRCINDCMR
SGPRWAMWI
BHSNLDNER
GTMMUSATG
USACHLMYSBLRBELSYR
BWA
RUSPRT
IRQTJKZAFPAKLUXAUSTTOSYRIRLNORBGDPRYLVATURMOZBOLTUNPRYMEXGHABGDMLIVNMTGO
GAB
IRLBHSBTNHNDSLVCODPHLCHLHUNTURPERLUXPANTURGTMURYIRNPANINDZAFSTPARGBTNKGZDMAUZBISLAUSAUTNERPANLBRARMSURDOMGRCSGPCHN
ETH
CHLGRCJORDNKETHLAOISLRWABWAESPZWETJKPRYSVKESTKENPAKURYYEM
BEN
URYMLITTOISLCPVNORTTOBLRUGA
MYSLCABDIJPNESPLUXMDAINDSGPRWABGRAUTPRY
VENJPNPANRWAMNGMYSGBRDMAVENGNBKGZFINKNAMUSTGOESP
OMN
LAO
MNGNORKENBGRITABFABRAHRVTCD
ARM
IDNBOLUGAROUSYRRUSCRIBWAGABBELUKRINDDOMKHMBRAROU
SGP
FINSUR
COGSVKCOGZWELBRGABAUSTUNLKAHNDTHALKAJORALBSWETKMPERATGBGRINDSTPESPCOLBENBRAARGFINSYRUKRBRAKHMBFAMYS
SDN
OMNMDA
GABPRY
PERURYGEOINDROUNAMVENBGRZAFNERESPGRDISLMYSTUNMRTBHSNORFIN
MEXTJKPAKBTNSGPVCTKENINDSWZ
JPNLKACMRURY
SYRROUPHLBLZJPNKHMATGGBRRUSTHA
PANUGABLZ
FJI
LAOHKGLKATHAKNAKAZINDUKRMYSMYSCPVGMB
MEXDOMPOLMUSSGPBWAPANLAO
GHA
MOZ
MNE
LSO
VCTPERKHMMNGFINCANDNKMDALBNHKGGRCGHA
GAB
VCTLKABGRSDNCOMBOLMDAMYSITARWANOROMNDMAGBRJORPRTSURJPNVCT
URY
ETHDOM
BHS
LKAATGCRI
VNM
PAN
COG
CZE
SEN
FJILUXHKGTURCHNPANCHNIRNMOZBLZIDN
LTUHKGGRDBLRNORSURARGUSACRICHLPAKDOMVNM
BTN
ROUDMAKORMWINLDBRABWAPERPOLMNGNZLCHN
LSO
SGP
BRA
GAB
BWA
CHLTZAALB
NER
GHA
NERTURTTOJPNIDNTUNSGPMARGRD
VCT
KHMTURGHAATG
MYS
BLZGNQ
CRIGRCTHALKATHA
AZELVATHAGRDHNDISLTUNMRTAZEHNDRUSKHMDMAKORNGAFJIITACHN
URY
IDN
NPL
DOMKGZLUXEST
MDG
RWA
KNABENDOMOMNBOLESPPRTZMBBIHGBRGEONGAMNGCMRMUSMUSGNQIRQCPVBRATCDLKACHNDMATURSGPARMMYSDNKARGCOLGRCMUSMARVCTESTFINCHNISL
MRT
POLKORJAMMARPRYPRTDMACHLMARNPLROUIRNBFAKORKOR
PAN
FIN
SYR
PRTVENPANMUSPAKIRLBGDTUREGYCHNKORGTMKGZARGSURMUSZWEPANLTUKAZNORBFAVNMBLRIDNBLZ
FJIMARMNGKAZJPNLUXSGPKORROUSGPIRLMARNERUSAPRTLUXJPNETH
GMBBGRIDNVCTGRCKNALUX
BHS
HKGIND
BHS
KORKORARGHKGIRNMNGMOZMDAFJIURYMRTINDFINLTUCHLTKMHKGBTNCOGCHLTKM
GAB
ZMBMUSCMRPRYUZBPRTMYSMYSROUMEXHKGIRLMEXMDGBLRRUS
ATG
THACMRLUXTKMIDNIDNETHBFADOMJPNARGSDNCHLBRAGRCPERLVALBNZWEKOR
MUSCPVARGKNATHAINDIDN
CPV
HKGGMBITACOMCAFBTNHNDCAFGRDCHNSLV
JAM
MEX
SGP
CHNLCAVCT
GABMYSLTUCHNTTOBWA
MYSHKGPOLTUN
MYSLTU
SDN
JORCHLSDNLVAJAM
NGA
ESTGNBARGCHLIRQTHAETHEGYCOMHKGSYRPERPRTPAN
NAM
HKGBLZATGNPLCPVDNKKORTHAMOZECUSENMDA
SYRURYSGPTTOCHNBRARWA
GNQ
VCTALBPANMOZCRIINDURYTTOVCTNGATUNMNEMOZBLRPANMEXMARGNBISLCHNCHNIRLLVAJPNDJIIRNIRLBGRETHARMGEOSYRGRCLBNARM
ETH
BGDKORPAN
BWARWA
THAGRCBTNPERTTOALBMARFJISLVBEN
KORMDVGNBBRATURESPTCDVNMLTUAZELVAISLPAKETH
ALBESTDMAIRLUGAINDSVKGAB
IDNEST
NPL
MYSNZLSGPZWEUGAARGTHA
SGP
DOMTTOBLRIRLLVAGRDTUNESTBRA
GAB
NPLFJI
TCD
VCTSGPSVKGRDPRTCHLEGYLAOTCDBRAALBKORINDBWA
TGO
VNMNAMLBNLKACHNKHMHRVTJKIDNHKGSGPCRICHN
NGA
ISLTURIDN
MDV
MRTMNGCHNURY
ATG
LCAMUSMARRWADOMTJKKOREGYKAZIDNESPJAMBTNBWAZWEFJIPRTDMA
COG
IDNKNAUGATURVNMIRNARMMLIBLZGRDBLRRWASWZDMA
KORTHAALBARGJPNURYTURLVACHNCPVTJKTKM
SLVIRNBTNCPVOMN
GEOBLZIDNCHN
MLIPRYPRYKAZAZE
SGPBTNURYAZEMYS
JPNIRLETHBLRHKGKORIRLCHL
BTNVNMCHNCHNBWABFACHLMUSBWAKORKORFJICHNBDIJPN
SGPMOZMYSPRYAZEKORTCDOMNRUSKHMBLZMWIBDILTUROU
ALBGRCATGSYRZWE
KNAIRLTCDHKGUKRKNA
ATG
THA
SGPBLRMYSECUSGPKAZSGPBFAGABKHMUKRBLRLAOMARGRDVNMLUXSYRLCABIHLVAIRNKNAMOZTTOARMKORKORAZELUXCHNZWEPRYUKRARMIDNEGYCMRKORLVADOMMLITGOCHNGMBSURLUXBWASWZSURCHN
SGP
TKMAZECPVCHLDOMDMASGPATGTHACPVHKGPANTHAIRN
SGPNERBGR
ATG
GRCKORKORGEOMYS
VENKORSWZMWIETHBDI
SGP
CPVJPNGNQMWIDOMIRNFJIOMNMARSWZIRNUZBZMBSGPMAR
BTN
GNQ
CHNHKGEGYEGYMWI
TCD
THACHNESPIRQESTTGO
SWZARMLTU
GMB
CHNGEOECU
CMR
PRY
NGA
PRTGRDBLZTHANGAIRNETHFJIPRTKENINDRWAALB
TGOSGP
MLICPVBRAGNBBWA
MDVISLBWAAZEJAMBDIKOR
BHS
ARM
SDN
KNACPVKORBLZCHN
GNQKORTGOBTN
ATG
THAGEOTCDCPVZWE
TCD
BLZJPNIRNBTNIRQ
MRTRWASGPKEN
SDN
TTO
CHN
IRQ
VCT
GEO
GRDMRT
ARGMWIARMOMNSWZMLIBLZZMBSWZSYRMAROMNCHLETHLAO
LBN
DMA
TGO
BWAHKGMWIBHS
DOMALBKOR
SGP
CHNSYRTKMVCTBTNCHNDOMPERHKGMRTIRNIRQVEN
KAZTTOIRNLCAKOR
ARM
GABOMNIRNMDVCHNALBGNQ
SDN
ARM
ALB
BLZARG
GNQ
CHNOMN
CHN
RWA
IRQTUNCHNCHNDMAATGLBRCHN
CMR
JAMMOZ
TKM
TGO
COGJORCOGCHNMWIBWA
GNQ
IRQ
JOR
GNQ
TCD
BIHJORZWEGNB
BDI
SYRKEN
BWA
COD
IRQJORSWZ
CMR
GABCPVMLI
NGA
SYR
SYRTCDSYR
NGA
GNQ
AZE
OMN
SLEIRNLBRMOZLBR
GNQ
MRT
IRQ
LCALCAVCTAZE
COG
BIHBHS
BTN
TCDLBNNGAAZEIRQ
GNQ
GABIRQIRQGNQ
BIH
GABRWALBNIRQ
IRQ
GNQ
GNQ
BIH
LBR
GNQ
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-1 -.5 0 .5 1Ln(Output per Capita)
coef = .54687808, (robust) se = .08177271, t = 6.69
Residuals on ResidualsTotal Emissions and GDP Per Capita
RWARWA
RWA
RWABIH
GHA
ARM
ARMBTN
LBRLBR
ATGATG
LBR
GEOATGARM
ATG
BTNATG
GEO
LBRBTN
ATG
GRD
GEO
GRD
CHN
ATGMDAMDAMDAGRD
ARM
LBR
MDALBRKAZ
GEO
ALB
MDAESTKAZ
ATG
BGR
TTO
MDAKAZKNAALBDMADMAGEOKAZDMA
MDA
BGRDMAMDAKNA
BGRBGR
DMAKAZRWA
GEOKNAARM
LVAALBKNAGRDGEOGEODMAMDAKAZBGR
GEOGRDESTKNAATGGEO
ALB
KNA
DMAKNA
PRTMDABGRSURKAZBGRGEOUKR
ATG
UKRBGR
MDA
GEOBTN
LVAHRVSLEFINGRDHRV
SLE
UKRESTPRTLBRBGRKNAALBUKRDMA
SLE
MDA
BTN
BGRBGRMDA
ALB
ARMMDAUKRPRTGEO
ROUDMAPRTUKRLVAESTLTUAUTLTU
LTU
KAZPRTAUTAUTAUTUKRHRVDNKLVABEL
AUT
URYLTUROUBGRHRVROUBGRBELSURDNKMDAMDAUKRLVAAUTPRTDNKGBRBELAUTURYUKRGEO
GBRBELUKRMOZGBRUKRTTOLVABGRBGRGBRURYLTUGBRROUDNKFINRWAROUMDASWEDNKGBRUKRUKRAUTDMAPRT
ATG
PRTGBRSWEGBRUKRDMAAUTGBRLUXESTLUXPRTBELARMSLELVABGRAUTPRT
MOZGBRUKRROULUXBGRLUXIRLBGRLTUBGRBELBEL
ALB
DNKUKRBELSWEDMABGRBGRGBRROUBGRBGRSWELVAIRLBGRBGRBGRDNKPRTLUXLVABELDMADMAPRTGBRAUTBLRBELBELITALTUITAPRTAUTLTUURYIRLESTITAITAROUGEODNKPRTITAFINHRV
DMAUKRITACHESWEBLRBGRGBRLVAGBRHUNIRLBLRDNKUKRSWESURLUXLTUSUR
NZLBELLTUURYNZLLVAROUSWELVASURITALVAARMITAGEO
BIH
LUXSWEFINLUXALBAUTBELLTUSWESWEKNABLRBLRFINAUTSWEGBRDNKBLRBGRBLRLVADNKLUXROUGEOZWESURITADNKITAFINLTUATGBLRGBRBLRSWEBLRBELPRTLTURUSBGRBLRBELFINNORGRCFINBLRGRCGEOBELBLRFINSURITANORESTLVA
TTO
NORBELAUTSRBFJIDNKBELPRTRUSBGRSRBZWEITADNKZWESWEBELAUTRUSURYSWEROULTULUXBLRIRLBLRGRCFIN
DMA
BRBGBRBLRNOR
DMADMARUSBELRUSATGNORNZLRUSIRLRUSRUSNORLUXDNKGRDHUNHUNROUITANORDNKBLRLTURUSGRCDMAFIN
MDA
CHEAUTDMAESPESPHUNESPHRVGBRITABRBGRCKAZDMAROUAUTITANORRUSFRAESPRUSROUAUTFINPRTROUHRVNORHUNESPSWEITAGRCFINHUNCZECZENORESPFRAMOZSUR
ARMGRCFRARUSBELROUBELGRCGRC
AUTHUNFINFINFRAHUNSWE
ZWEESTGRC
LBN
GRDGRCIRLFINCZEBRBGBRGBRRUSOMNDNKBLRROUITAGRCFINITAROUFIN
OMNFRAGBRGRCGRDESPGBRDMAHUNDNKHUNNORHUNNLDDMAGRCFINURYFJI
NLDHUNPOLFRAFINNORITAGBRESPBELGBRBRBBRB
FJI
PRTGRCNLDDMADMAPRTROUESTLBRHUNRUSHUNHUNDNKFINESPHUNIRLSWE
ALB
HUNCZEROUVCTPRTCZEFINGBRVCTHUNLUXNORGBRHRVDNKAUTFINFRAFRA
BFA
HRVNLDJPNNORSWEVCTCHEGRCFRABELPOLITABELITADNKJPNFINURY
BRBHRVBELBELBIHHRVCZEHKGCZEDNKBRBFINVCTCZECZEZWEBRBBFALUXVCTVCTITABIHBELITALUXFINHKGNLDBRBJPNAUTMOZHRVGRCHUNSWESWEURYFRASWEITAHRVHRVJPNGBRPOLITADMAESPDMAPOLBRBBRBNORCZEESTGBRAUTAUTITAPOLBELHRVESPVCTSLEBFAGBRDNKTTORUSNZLAUTNLDDMANORITAEST
BGD
FRABRBPOLAUTITAVCTSWEVCTPOLBIHLUXESTITAEST
SLEBDIITAURYRUSAUTDEUITACHEDEUJPNJPNFINFINGBRITALUXNLDJAMDNKDEUBDIFRAPOLDMAPOLIRLAUTTTODEUIRLISLZWERUSJPNSWEFRANORURYEST
SWEPOLBIHPRTNLD
ARM
JPNNORPRTBELGRCFINCHESURCZEDEUAUTDNKITAITAPOLCHEFINITAAUTALBBFAURYITAVCTURYPOLESPGRCDEUJPNDEUSWEVCTSWEURYURY
JAM
POLPOLITANLDITAFRANLDRUSURY
NORDEUURYCHENORJPNPOLPRTSWETTOSVKFRANORJPNNORITAAUTGRCTTONLDNORJPNBIHFRADNKESTURYDEUVCTSVKNZLBIHNZLDEUFRAFRANORBELPOLTTODNKSWEFRAJPNFRAFRANLDSVKNORVCTDNKJPNNORDEUTZAFINDMATTOBELAUTDNKBIHBELKNA
BFA
VCT
JPNJPNFRASVKAUTFRANZLFRANLDURYJPN
DMA
DNKBDI
VCTSVKBELSWELUXJAMNLDGBRCZEDEUBRBBELVCTDNKESPVCTSVKFINBELDEUNORLUX
HKGJPNPOLUSACHEJPNURYURY
URY
JPNJPNLBRBELSVKSVKSVNNORVCTDEUSRBVCTJPNSWEESPHKGTTODNKGBRDMAVCT
BRB
POLURY
JAMNZLESPGRCESPBFANZLGRDSVNARMESPVCTUSAVCTSVNKAZJPNGRDSWEJPNUSASVKUSANORSRBESPNLD
FJI
GRDESPUSASVNFRAJPNARMNZLGBRPOLBELURYFRAGBRIRLPOLNORSVK
ISL
TTOJPNBRBJPNHKGGBRVCT
URYJPNARMGRCFINDNKVCTURYNORSVKNLDSVKBELGBRJPNNZLBGDJPNESPFINSVNNORFJIISLSWEJPNURYSWEUSAJPNVCTGBRISLSVNSWEFINTTOITAISLVCTSVKJPNSVKGRDKGZESPFRAGRCMNESWEARMVCTOMNJPNSVNFRABRBUSASVK
MNE
GBRJPNNLDARMAUT
VCT
GRCFIN
BRBBRBARMSVNDEUAUTJPNSLEBRBVCTZWEARMFRASVKUSAGRDLUXSWEBRBESPURY
MNE
SVNFRABRB
CPV
PRTAUTNLDCHEBRBLUXSVKBRBMUSPRTBRBESPMUSALBVCTCZEESP
FJI
BFA
BRB
PRTVCTBRBMUSDNKSVNCHEVCTVCTFINOMNNLDFINUSAJAMMNEMUSBIHPRTCANGRDBELURYMKDMWIMKDTTOJAMBRBFRAGBRUSAZWEPRTUSAKGZSVNMKDMKDBDIISLURYMWIISLSVKBRBJPNESPNLDMKDDNKMKDBRBCHEBRBMUSGRDGRD
FJI
PRTFINIRLURYVCTFRASVNUSAVCTESPSWECANESPFINURYARMFRAMKDMKDMUSSWE
BTNPRTGRC
TTOJAMUSALUXUSACHE
URYLUXDNKJPNESPJPNSWEUSASVNDNKSURUSAURYPRTPRTNLDJPNUSAMKDFIN
TTO
FIN
DNK
ESPDNKVCTPRT
DNKKGZ
SVNURYIRLSWEJPNNLDMKDUSAGRCFINGRCGBRMKDPRTDNKESPSVNNLDMKDDNKVCTGRCGRCJPNCANDNKFRAGRDDNKPRTVCTPRTESPLUXAUTFINMKDGRCNZLKGZESPCPVGRDPRTJAM
JAM
ISLBELAUTGRD
MOZ
TTONORVCTNLDESPGRDGRDAUTBFAAUSMKDCANLKACAN
URY
HKGNLDGRDURYSLVPRTJAMNLDLKAAUS
FIN
USAFJIGRCMKDNLDDNKISLAUTDEUGRCITAESPLUX
FJIMKDCANMKDMKDTTO
GABESPPRTSLVESPSLVCAN
CPV
GBRFRADEUCZEAUT
JAM
USASLVTTOTTOSGPAUSJAMNORTTOCHEIRLJPNISLTTONLDGRDFRASLVTTOLUXCANMUS
TTO
JAM
TTO
GRCSWECHEURYPRTISLGRCTTO
GAB
FINGRCURYTTOGRCIRLJAM
URY
GRCAUTPRTUSACANGRCSWETTOURY
ALBALBGRCFJITTOALBTTO
DNKGRCJPNSLVPRT
MUS
KORCANESPNORSLVALBTTOKORPRTGRDNLDHKGAUTGBRBELATGKGZCANPRTFINNLDBFASLVALBLUXSWEHKGNLDBFAVCTJAM
BDI
GRCJPNTTOLUXDNKFJITTOUSAKGZLKAJPNKAZFINSLVISLCHEIRLSGPAUSKORKORFINFRAESPJAMKORBLZDMAHKGLUXNLDALBESPKORALBISLFINAUSCAN
LCA
USAAUTUSANLDSLVGBRDNKKORLKA
NORNORDNKFRAKORDNKNORTTOKORBDIKOR
GAB
GBRAUTNLDNLDNLDUSABLZURY
CHN
ISLBELSWENORNLDNORUSADEUHKGZWESLVKORNORKORNLDKORMRT
KORTHAISLNLDFJIBELURY
SGPNLDNORTTOISLCHECANMUSISLUSAISLKORGRCJAMGBR
MRT
URYKORJAMNORITAGBRCZEITAISLMWIJPNKORURYKORISLURYCHEBELCZEKORCAN
TTOMNGLUXKORBELUSANLDAUTISL
BTN
JAMMUSIRLDEUBELNLDSLVBELSLVNLDCHNURY
TTO
LCAISL
GAB
AUTAUTGRCGBRFRAALBCHNBDIFRACHNSWEAUSURYTHA
SWZPRTHKGITACHNNLDPRTNLDNLDHKGKORCHNBELIRLGRCNLDCZEPRTKNAGBRFRAFRABELNLDFRANLDBGDURYMNGJPNCHEJPNCHN
SLVISLALBURYTHAARGISLCHNLUXFRA
SLV
GBRCZECHNISL
TTO
PRTKORLKAMRTSURJAMUSAJAMALBNZLJPNCPVPRTJAMBLZGRCSLVMNGIRLMUSCHLCHNSWZMNG
TTO
JAMAUSFJICHESLVITAARGPRTCHEAUTNORCHNMRT
CHLHKGGBRJAMMUSITAGRCBLZSGPAUT
MUS
CHECHLOMNHKGMUSTHASLVCHN
CPV
AUSSWEJAMCHESLVMRTBDIFRAITAITAKGZLCANLDCANTHAIRLCHETTOFRAUSAGABNPLGRDCHLSLVKAZMRT
LKA
ITAJAMTHALKACHNCHNKORITACHNJAM
ARG
LKAAUSCHE
GAB
CHESGPMNGNZLTHACAN
SLEJAM
GAB
MUSIRLSLVCHLFRAAZESLEFRASLEISLSLECHNLKA
ARGJAM
MRTFRALKASWZLKAISLARGCHEMNGCHECHNFJICANNPLJAMARG
GAB
ARGCHNAZESLE
SLVLKAAZEHKGLKAZWECHLCANCHNKORARGSLE
THAUSAGRCGRCIRLCHELBRHKGCHLARGKORCANSWEARGISLIRLARGCANTTOAUSIRLLUXTHABIHHKGMUSLKAARGCANLBNCANJAMKORNZLMOZUSAISLCHNARGSWEIRLLUXNORJAMARGKOR
MOZIRL
SWEARGLCAIRLBDIKGZAUSKORLKAMNGHKGKORZAFCHLARGSWELUXJAMCHLSLEHKGARGHKGCHEMUS
LBNLKASLVLKA
SLE
JAMESPLCALBN
LKAJAMAUSBLZKORCANCHNARGARGFJIFJIUSACANCANIDNCANMRTKAZNZLCHLCHLJAMGRDARGSURMRTAUSNPLCANGRC
RWA
LKACHN
TTO
GRCFJIMNGJAMMLICHNBDITTOSLVMUSLKAMUSARGMUSTHASWZ
GAB
KGZ
ARGJAMJAMHKGCHNZWETTOFJICMRCANCANGRDJAMUSAARGMUSARGSGP
ISLLUXISLCMRSLVARGMNGUSACHEMUSARGZAFSGPHKGUSACPVKORTJKUZBKORARGAZE
SLE
ARGARGAUSARG
FJICANCANBLZ
GHAARGUSANPLHKGAZELCAUZBSLEAUSCHNARGJAMBDIBDILUXNZLMUSBRAMUSUSATHATJKARGJAMUSA
NPL
AUSARG
SLE
GRDCPV
TJK
ARGCANKORLKACANCMRHKGCHNCHNMLIISLCPVMLITUNIRLKORARGCHLBRA
BLZAUSTHALBNISL
SGP
LKACHNUSAKOR
CAF
ARGARGBRACHNUSAARGKAZMNGTUNCMRHKGISLUZBNORAUSCHLCHNUZBSLVTUN
MRT
CANTUNGNBAZE
MUS
SGP
LCASURISLCHLSURMLIUSASURSURAUSZAFLCA
GHAAUSCHLTHABRATUNLCA
CMR
ESPAUSISLARGTUNCMRMARCHLTHAISLARGISLARGAUSFJITJKARG
ATG
LKACHLNPLCANHKGARGCHN
SLETTOATG
BDITCDLKAMLITJKTHALCAISL
TCD
TUNMLIBHSCHLMLI
CHL
MNG
NPL
FJI
TCDUSAMUSLKAMUSTUNNZL
GRD
MARLCASLE
LCAJAMGNB
OMN
NZLMARTTOLCAAUSSURUZB
LSO
SLE
USAMNGAZELCAMARNORSLVLKACANSWZUSACHNKORLUXGNB
FJI
NZLAUSBRAMARCANCANISLCHNCANLKALKA
SURCANAUSSURAUSCMRAZEMARCAN
FJI
CANLCAZAFMLILCAARGFJIHKGLKACPVCHLVNMMWIUSATUNISLISLSGP
ZWESLVLKALCALKATKMMUSAUSMUSBHS
AUSMUSARGNZLAUSCAN
SGP
CHL
LSO
CHLOMNUSACANLBN
MARCANTKMUZBBGDCPVMUSTKMNZLTUNCAFSLELCAATG
FJI
LCASLVVNMAUSESPMLI
PERKAZIDNIDNLCACANCAF
PERTHABHS
PERMLITUNAUSVNM
BHS
LSO
IDNUSAARGTJKVNMLKACAF
LKAMLITJKCAFMLI
TJK
ARGLUXIDNKGZAUSIDNSURKGZCANTCDLKACHLARGGNBCHLVNMZAFNZLTKMVNMGHAAUSBHSNORCANNPLPER
BGDUSAVNMFJILKAFJICPVCANSWZSURCHNUZBSGP
VNMUSAARGTUNTTOMARMNGVNMSGP
BGDAZESURTKMCHLKNAVNMMAR
TTO
KHMLBRTHASLEIDNKHMTCDISLVNMCPVVNMAUSFJILBNBHSCAFBRALKACHLPERTKMTHACHNIDNCAFAZEBRAEGYTUNIDNKAZBDICAFNORIRLIDNVNMTUNBLZKHMTKMCHLMARCHLLUXSURMOZCHLAUSGAB
CHLTHAIDNIDNBHSGHAMLIHKGATGKORAUSIRNISLCPVCHNIDN
CHLBGDKNAMUSLCA
CAF
ESPTUNTJKALBPERSLVTHANORMARMARCHLCHLSURALBTJKTUNSLE
FJIBFALCACHNAUSCHLLBNTJK
BDI
ESPTUNMEXKHMBHSUZBTHANZLCAFIRN
NPL
UZBFJIBRATHAKAZAUSTHALKATHAKHMVNMIRNBFAIRNTCDMLIKGZZAFLCABWALCATUNTKMIDNLUXGNBMDGKNASLVBFAUZB
IRNMARTJKNZLLUXCHLSURIRNBRAAUSKAZGTMTHA
NPL
TKM
TCDFJITURATGDJIKNAPER
MLI
BHSAUSCMRLCABHSTJKSURMNGIDNBENLKALUXGTMMLIIRNMEXTURMDGSURGTMMEXLBNSLVIDNKNA
MDGSURMEXUZBHKG
EGY
KNAAZE
BGD
MEXBHSMEXMEXSURCAFBWATUNNZLBRATURMEXTHAIRNNZLKNAMARTGOSLELKABHSKNAIDNMEXKNATUNSURIDNBWAFRAINDBHSIRNATGTKMSLVIDNLKAKNABGDMDG
MUSTURCHLMEXMARMEXKNATJKKNAMARAZEKNA
TGO
LCALCA
TJK
CANKNA
ALB
ISLCHLTCDKGZLUXTKMZAFKORCODBRATHABDIMDGKHMTURLUXBRATKM
CHLPERINDIDNCMRIDNNERSGPESPMLIIDNBHSTURIDNMEXKNAFJIBFAMDGIDNKORGINSGPMLI
NER
KORFJITURLUXKNA
NER
IDNBHS
CHLKGZ
NERSURATGEGYCHLBDIMEXBRALCAMUSTKMIDNIDNMDVBWA
KNA
IRLALBZAFTCDIDNIRNFJIZWEIDNCPVBHSIDNTURMEXBOLTURHKGTURMNGKNABLZ
NERBRATJKBHSTHAUZBBFAINDGNBIRL
BTN
IDNLBNLBNBWATKMFJIBRATHAFJIAUSKGZTURTURBWANZLTGO
CHNTUNBLZ
TUN
BHS
BDI
MDG
IRNZAFSWZIDNZAFBEN
NERKHMMEXMLISLVBWAMLIGTMCMRMDVTURTHAIDNZAFSLVBOLDJIBRAPERLCABRAEGY
EGYGINMDV
NER
SURMDVBRATUNBOLPANAZEIDNCAFBRATURGNBBRABRA
TTO
ZAFTCD
BDI
PERDOMMDV
TCD
IDNTURBRAIRLJORDOM
BHS
SGP
GTM
EGY
TGOLUXEGYBRA
CODDOMZAFINDATGIRLBHSTURHKGTURMARBRAPANTURTCDIRNCHLTHAVNMBWATURTUR
SLEMARTURISLHKGBHSESPTJKSURTURINDTURBENBHSNERMAR
BHS
TURTURBHS
BHS
BHSOMNEGYSLE
AZE
TCD
NER
LKA
TCDJAMINDMEXTURBFABWA
SLESWZTUNAZE
PANBGDECUALBTURFJIBHSDOMTURCHLCHLIRNFJILCATURNZLBFABHSBOLGNBINDMEXMARBRAIDNGHABHSPANCOLEGYSURNPL
PERSURSLE
MLIAZEBHSISLBOLMNGTJKTURPAN
ECUKHMCOLECUSLETURCODCOLTURNZLMARCOLMDGLBNPANTUNBHS
SGP
NZLTUNTCDMEXMEXMEXDOMINDIRNCOLCAFCOL
KGZ
UZB
GABCOGBHSBHSCOLCOLHKGTCDEGYECUBWAINDBENTUR
GAB
DOMTHA
MLISGPTGO
SLVESPMDV
FJIEGYINDCOLAZEINDAZEBRASLEBIHMDGTUR
NPL
TCDIND
IRQ
ZWECOG
INDEGYAUS
NPL
CHLCOLDOMCOLDOMPER
ECU
TURZAFCOLIDNTURBDIEGYPERCOLFJIEGYTUNBENGTMIDNCOLSGPINDMEXCOLCOLTURBOLCOLMEXTURJORECUBRABOLDOMMARECUDOMIRQNERMOZPERCOLSTPBRAIRLMNGGINTGOLAOSGPSWZNZLCRICOLGNBGINBHSIDNEGYTURINDTCDSGPCPVMEXTUNEGYDOMMEXCOLDOMPERINDCRICRIINDPANCOLCHLTURBOLPER
DOM
NPL
IRQDOM
CPV
MEX
CAFJOR
BHS
MYSCOLSWZPANBHSCOGMEXDOMLAOTUNDOMMYSLAONPLPERDOMDOMBENSTPDOMSTP
CAF
DOMEGYPERZAFLAOINDCRIECUPERCOGNZLKORKHMLAOATG
BEN
ESPBOLMLILAOLKACRICOLINDFJISTPCAFBOLTURTUR
TCDCRIMEXISLAUS
NPL
BOLLAOLKAINDIRQCOLKORZAFCHLVNMMDGDOMECU
BHS
TCDDOMMYSVNMBRAGNBVNMBOLCHLEGYTGO
BGDBRADOMISLINDBOLIDNEGYINDMEXNPLDOMMDV
BOLCOGEGYVNMINDCOLBRAMNGDOMBRAINDBRACOLINDBENAUSGNB
LKASWZMEX
BFA
ALBTURTHAGNBSGPTGO
COLSLE
GINUZBTURBOLVNMINDLBNTUNTURINDIDNPERISL
NPLINDINDAUSINDZAFLAO
COGMEXCHNCOLPER
BEN
BRAEGYPERSTPMARECUSTPDOMMAR
LBNBOLBHSSLVINDBOLTHAIDNTURLKA
SENTCDVENPRYNPLPANEGYIDNLKABDIMYSIRNMYSIDNCPV
TCD
IRQSGPSLE
TGO
GNBKGZBENCOLMARINDMARBOLCRIPANTURINDBFABDISEN
SENINDBOLCAFLKACOLDOMPANIRLGINMYSDOMPRYSTPBOLCHLCOLCHLPRYBRACOLPERDOMPANIRLINDBENCOL
VNM
NGACAFCRIINDBOLKORCOGAUSCAFVENCOLMARDOMMDVCAFTUNBFACOLBOLCPVCOLBRAEGYDOMMARBOLBOLINDBHSGNBIND
NPL
BOL
MDV
INDBRAKOREGYESPINDINDNPLIDNBOLPANBWAECU
LAODOM
PERINDESPKGZEGYIDN
BEN
IRN
IRQ
ZAFZAFGIN
IRQ
GHABOL
MNGCRIMARSENTURCOLTUNBRARWABEN
NPLBRAECUPANCAFBOL
PERCOLVNM
COL
SGP
DOMMNGPERMYSBOLMARMYSMYSKHMCPVPER
SDN
ZWE
PERNGA
MARBOL
PRYZWEDOMTGOZAFMYSIND
PANINDNPLEGYMNGCRIIND
GAB
VENIND
PRY
SENAUSEGYVNMPERGTMIDNGTMGTMPANBLZ
NPL
STPCOLTUNMYSTHA
ECU
BRAGIN
STPEGYCAF
MOZIRN
BFA
GTMATGBENNGAMYSBGDGTMJORLBREGYTZAGTMHKGIRN
NPLMEXPHLGTMPANMWIMYSGTMLBNPHLZAFSENGTMGTMMYSMARVNMUZBNGASLVVENSGP
SWZ
BTNVNM
BOLBDIPANLAOGTMZAFDOMSGPPAN
PRYLBNGINECUMWITGOBOLZAFRWADOMNGA
IRQGTMGTMECUPAN
CHNCHNMYS
SGP
IDNTUNCPVDJIRWAMYS
TTO
EGY
BOLNPL
FJI
ZAFTGOBFAECUCHLVENEGYMARPANCRIIDNSLEEGYPHLCAFPHLSENBOLTGO
FJIINDMLISGPINDIND
MDG
KORCAF
CAF
CAF
BTN
IRNMDGBGD
ECUBTN
MDG
SLENPLCPVCRISGPINDTUNMARBGDPERCAF
SWZ
PRYVENIDNGTMKORMYSPRYBFACODMYSIRLGABDOMGTMLKAHKG
BFA
NAMEGY
MWIHKGIRNPRYPRYTKM
VENMARMARZAFPANPANTCDBENPAK
CAF
KHMCOG
AUSTHAPAKSWZZAFBDIJOR
SDNOMNLAOZAFPAKHKGEGYTGOPRYBTNTUNZAF
ECU
SGP
TUNNAMPAKSTPCAFUZBPAKTUN
GABBGDBTNTGOMWINAMTUN
ECUPAN
VENMNGZMBEGYMARVENZAFMYSEGYBEN
LUXPHLEGYSLV
GAB
TGO
MARDJIPRYEGYCRILBRCMREGYBGDGINNGAPANEGYJORTUN
MARBOLGRDTURTUNRWAAUSPRYGNBMNG
MDG
EGYZWEPRYMYS
GTMPAK
BDI
NPL
BHS
CAF
FJITGOPANBOL
GHA
DJIIRLPRYVNMGNBGNB
GNBCMRMYSMAR
SDN
GAB
SDN
ZAFBGD
BTN
IRQGINPERPAKCOGPAK
ECU
NGABENZAF
SEN
PANECUBTNNAMGNBAUSPRYNGAPAN
BIH
NPLSWZCPVBGDSGPMYS
IRQ
EGYGTM
MDG
ZAFGTM
VENIRN
PAN
RWAPANHKGHKGPRYZAFBWA
NPLNGACAFCPVEGYECUTCDZWEDJIPAN
GAB
BGDVENZAFBDISLVIRNPANPRY
PRYECUATG
MDGNGAVENGABPANBOLMARNAMZAFMWIMDGCOGIRLMEXBGDNPLLAO
MWI
BENNERUZBPANPANCHNEGYLKAMYSDOMZMBPAN
BENIRN
SWZ
GHATHANAMECUCOM
VENMARNGADJIMNGDJIMWI
GNB
PERPRY
CRI
BOLZAF
PAN
NAMZAFECU
NAM
MOZ
ECUNPL
EGYBDICOMECU
BOLECUPAN
NGA
CAFMYSCAF
GABTGOTUNGNBZAFCMRSGPNPLPERZWEPERGTMPHLBGDVENGNBBFAMARIRLALB
MDG
ZAFGTMMDG
VEN
PRYGNBGNBALBBGD
BDI
VENZAFNAM
BEN
ZAFDJIDJICRIZAFPANZAFMYSPAKPERPHLBGDLBRZAFDOMCPVCAFVENCOMIRNMLIKHMBGDDJIVENSENMDG
MDG
BGDPERCAFCHNRWAGTMZAFTGOMDG
GAB
VENGTMCODPRY
LAOPRYGNB
SEN
GABNGAPRYSDNPHLBWA
PHLFJIBGDECUGABBGDDJIMNGHND
NER
BDIGINGNB
PRY
ZAF
BOL
CAFBENTUNCOMVENLBR
NPL
LBRJORBGDZMB
PERVENCOLPHLPERCAFBOLGNBPERLBR
COD
COLNPLJORCOD
COMTUNCODBFAMYS
PRYNGACRI
HND
CODHNDVENHNDTKMGNBGHABOLCODVENMYSJOR
NGA
MARBENHNDUZBZAF
GAB
HND
NER
PERBOLBOLBENPRYPERCOD
VENTUNBFAMYSLUXCRIGHAMEXMWIPRY
MDGZMBPRYSDNPHLSGPHNDCMRTGODOMGNBJORSGPBOLBGDPRYMEXATGCRIHNDGAB
NPL
GRDPRYCRICOMMRTBOLLAO
PRYPHLGHAPANCRI
MNG
CRIBGDSWZPHL
MDGTHA
ECU
TGO
COG
HND
MRT
SWZ
TGOKORNERIRNCPVCODCAFSENHNDHND
GHAZAFCRICAFHNDPERHNDKHMPHLPHLPAKBLZPHLCRIRWA
SDNLBRVENCHNCRICHNGHABLZGNBCRIGHAMRT
ZMBVENHNDCOD
SENGAB
LBRHND
SEN
LBRSDN
NPL
BLZPHLMDGBLZECURWA
MRTPAKMYSPERBLZMEXNGA
ECUMYS
MRT
PHLPHLCAFCRIBGDCODTHANER
LBNBRAGHA
LAOPRYBENMRTALBZMBCOLCODBRACODPHL
NGA
PHLMRT
ETH
GHAPHLNGAVENPERBGDMDGCOMHNDPRYSYROMNBENCOLHND
SWZ
HNDPHLSLE
BEN
TGO
PHLPHLCRIMRT
COD
BGDDJIBOLCRICRIPHLCMRPERMWIPHL
GAB
CRIVENPHLPHLPAKPHLNAMPHLCHNNERBTNPHLECU
MRTLBRNPLECUBOL
BEN
LAOCRIPHL
MRT
GINNERHNDGTMMRTMRTGINPHL
SDN
PHLGNBSLEPHLCRI
BDI
PANBGDNGABTNPRYBFABOLPHLPHLPHLBRA
CAF
SEN
NERMWIBOLCMR
COG
NERGTM
GNBVENTURGHACAFBGDSWZPERSWZPERPRYOMNBLZPRYPANZAFTHABRAPERECUCMRNGAGTMBWAECUMYSMEX
GNB
ECUBGDPAN
BTNCOG
RWA
CODATGCODSWZPANGABPAN
NGA
GABGTMPER
SGPNGALAOZMB
HKG
PHLSYRPAN
ECUNGA
MRTBRAGMBPANNERCOLTGO
GHA
GTM
NGA
NGACPVECUCOGJORGHA
NGA
BFA
MRTSENTGOPERBRACAF
NGA
MRTBRANER
CMR
CODECUCMRCRIBRAECUBLZTGOIRNMRTNGAIRNLUXLBRECUSDN
COG
SDNBLZTHACOMNGAGTMBLZPRYNGAHKGNGAMRTBRAPRYNERPRYMRTCOMTGOSEN
MRTLBRPRYBGDECUECUMEXHNDBLZPANNERECULUXIRNPRYCODCOGECU
TCD
MDG
CMRSYR
THA
COMBDIPRY
COG
PHLPANGHACMRCMRZWEMRTIRNMEXNPLIRNNER
BFA
CAFRWABTNCRILAOCAF
IRQCODTGOGHA
SWZ
PAKTHAHND
TKM
ZMBNGATHAECUMYSNERCRI
TTO
GABCOD
GAB
CMRCOGPRYKHMSWZBENCOGKORPANGHACOGCMRNERGABPRYCMR
CMR
NGATGOCOG
CMR
PAK
LAOPHL
SWZ
SENCOLCODMNGCMRVENCPVPRYGMBGINIRNCOGPRY
CRI
COGPHL
GNB
GTMIRNCRI
COG
CMRPAKPRY
ETHLBRMNGCHN
GAB
THAPRYMYSIRNZAFETHSWZBLZHKGMEXNGAETHBLZTCDECUBGD
LBRCOGPRYMEX
CMR
MYSJORIRNCODCMRIRNGHACOGZMBGINGABSEN
MRTPHL
NGATGOSLETHADOMRWAMEXDOMZMBBLZMWINPLCMRLBR
BWAMYSIRNLBRMWI
DOM
DOM
BRA
COG
GHAETHLUXPHLIRNCMR
THAGHAHNDCMR
NGAHKGCOG
SGPSLEECUIRNHNDSGPSWZCOL
SEN
TGOGHANGA
CODCOMSYRNPLKENRWA
LBR
SDNMEXRWABLZPHLDOMBFACMRMYSECUCODPAKCOGFJIMWIMNGCMRMYSPHLCAFBFAGMBCRIMWILBR
PAKSYRGHAMEXNERCOG
COG
BTN
CMR
COMGABPHLMYS
COG
NPL
HNDMDGCAFBLZSWZATGHNDHNDSYR
COD
CMR
HNDGTMKORSWZZMBNPLGRDHNDPAKTHANPLSENETHMRTNERPAKHNDGHAATG
CMR
COLPHL
ZMB
THACMR
SDN
CMR
LAOZMB
NGA
CMRZMB
SDN
SENCMR
SLE
SDN
NGA
HNDNPLTGOHNDNPLSDNRWAZWECMRHNDNAM
SWZ
PHLUGAZWESYR
MYS
COG
CAFMYS
CMR
NPLMYSSDNCRICOMRWAMLINPL
COG
CAFGMBMOZ
NGA
NPLATGMWILBN
GTMBWAGHARWABLZSDNMYSMYS
SDNMWICODRWASYRBENCRIGTMSDN
NPLSWZGABBDI
BLZ
GABMEXDJI
GMB
HNDCODSWZGABTGOMYSLAOLAOTGODOMCOGKENHNDMYSHNDTZAMOZLAOGHACMRHNDMOZIRQPAK
COD
SDN
CRIHND
ZMB
CMR
SDNBLZSENTHASYR
MYSHNDVENPAKGHALAO
RWA
SWZLBRSDNIRQSENGHAMEXZWEBDIGHACRIKEN
SDN
IRNZMBMEXNGAGTM
SDN
BDIZMBCOMTGO
MDG
PAKZMBKENCMRRWAETH
IRQGTMNERSDNCOG
GHAGHAMOZ
FJI
BLZCRIETHSYRCRIKENZWELBRCMRGMBSENCPVCOLMYS
GAB
IRQSEN
MYSSLELBRSDNSDNGHA
ZWE
MYSCHN
COG
SYRBLZMEX
BLZ
IRQ
ZMB
GHA
SEN
COGMWIGHAZMBUGAHNDGNQATGBDICOMKHMTCDBLZGMBZMBIRQLAOTZA
BWA
MRTSYRGABZMBBWASDNSENGHAHNDZMBZMB
KENGMB
GHACOMETHMDGGTMGTMKENCMRGTMKENMOZSYRNGAMEXMLIZMBGHAGTM
SDN
SDNSENZWEPAKMWIZWE
SYRGHAIRQKENETHIRQMOZ
OMNDOM
MDGMRTSDNNGASGP
ZMBGHACRI
SYR
BLZ
ZWEETHATGHNDNGAGTMTGONGATGOSENMOZGTMCHN
PAKATGZMBKENGTMPAKSYRZMBKENZWESLVMWIMLIGMBETHZMBMEX
BIHSYRKENSGPGTMSYRZMBPAKCRISENNGASYRSENGHASYRBWACOMHKG
SENIRQSYR
IRQMRTBFARWAMOZ
GTMSDNIRQLAORWAZMBJORBDICOLKENCODBLZMEXMWIGTM
COG
GNBGABBWANGABFAZMBSEN
NERZMBSGPCPV
GMBTZADOMSENSYRSYRZMBSYRSDNSWZSDNGHA
GMB
ETHMRTKENIRN
BDISYRPAKTKMBWABDI
VEN
VEN
SYR
JORKENBDIGHA
GMB
NGA
DOMNAM
ZMBZMBMDG
COG
MRTSDNTGO
COG
SDNMWIZMBZMB
SYRSEN
OMN
NGAGMB
RWASGPSYRGNQPAKSEN
MRTVENHKG
BLZRWAMOZCRIMLIKENMWICOD
KENMLIPAKTZA
BDI
TZAKORETH
GMB
TCD
COGSYRCPVZMB
RWA
MOZETH
ZMB
ZWEIRNBFA
SYR
COGMWIBTNUGAVENKENZMBBWAETH
ZMBSENETHSYR
ETH
MWIIRN
GHA
KEN
BTNSYRKENTGO
ZWEZMBSENZWEGMBBTNCOMDOMBDILBRSDNKENCOMMRTBENTCD
BLZ
TGO
KHM
BWABWABWATZA
TCD
KENGNQFJICOMDJIGABKENVEN
TCD
SYRMWISYRBLZSYRBFATZAVENCOMSDNVEN
SGP
COGRWABWAZWE
HNDVENRWAETHSYRCOMKENBTNCOM
COGSYRGMBCODNGABWA
SGP
CAF
TCD
TCDMOZSEN
COMZWECOGSENTCDZWEGABJORBENGMBTZACOMPAKZMB
BWA
VEN
TCD
NERBENPAKMLIIRQSENNAMCOMMWIETHTGOMRTSENSENBFAMWIMWIGMB
VEN
COMKENCOMSYRBFAGABSEN
COG
MWICOM
BDI
PAKGMBSENMOZGMBNAMTZAMRTPAKTCDETHGHA
HNDBLZPAKCOGPAK
LBR
SYRMOZ
FJI
PAKPAK
MRT
SENPAKMOZBEN
BWA
OMN
ZWELBNBWA
KEN
TGOMOZSYRNAM
SYR
NERSENJORBFAETHTZA
MRTVENSLV
NAM
VENIRQ
TGO
HNDDJISEN
GAB
CRISYRVENBFACOD
GHA
MWICOD
COGIRQVENGMBSYR
MLIGNQCODHNDGMB
SLE
GNQGMBSGPTCDGMBNAMOMNGMBMRTFJIHND
GAB
BTNMWI
ZWEGABBLZMRTCODMDG
SLE
MRTCODCOGGMBNAM
GAB
KENGMB
TZA
YEMSLVRWAZMBSGPGNBMLIKENTGOMWINAMBWAIRNVENJORVENIRQKEN
IRQ
GMBUGACOMTZA
MDGUGACOD
GNQ
HNDMRTKHMKENIRQ
BFAGNQHNDBENVENKENHND
BDI
UGAOMN
KEN
ETH
BTN
IRNKENETHGMBZWEBENKENBENHNDGNBTCDMRTRWALBR
YEMSLVDJITZASYRGMBTGO
BWA
BFAGNQ
JOR
BENTCDMRTGABKENMDGETHMDGZMBBDIYEMBTNCODKENBFAUGA
ETH
MRTMDG
SGP
GNQBWATZACRIBENBFA
TZAKENGMBBFASYRZWEUGATGOBDI
UGAGMBVENOMN
BFATCDBFAMDG
IRQ
CODMDGMWIBENZWE
MDGMDGIRQ
SWZ
KENTCDIRQTZAMOZTZAIRNKENUGAOMNIRN
ETH
GMBJOR
GAB
UGABFA
BTN
UGAKENTCDMDGGMBLBNMDGGINUGABENYEMBDIMDGBDI
BFAKENUGAOMNYEMTZAIRQSDNRWAYEMGINIRNKENJORRWAMDGKEN
IRQ
BWA
MWI
GMBIRNBEN
BEN
KENCODMLIRWAMDGKENBENBFABTNGNB
YEM
ZWE
KENSWZBDICODUGAETHNER
VEN
MDGCODUGAYEMBENBTNCRI
KEN
MDGYEMBWAGNQ
NAM
CODSYR
MLIKENIRN
SYR
RWAKEN
MLIMLIIRQDJIMLIYEMIRQKENJOROMNYEMTCDMLIMDGYEM
TZA
TZAIRQYEMJOR
MDGMLIYEMGMBMLIIRNSLVBENUGAZWEMWIJORUGAMLIUGAOMNDJIMWIGNQGNBNERMLILBRZWEMOZBWATCDZWEMWIBENJORZWEIRQ
BENBWA
TGO
ETHGNQ
TGO
GNQBENOMNNERZWE
GNQ
GNQ
IRQUGA
GNQ
GMBBEN
GNQ
UGAUGATGOJOR
GNQ
UGAUGA
OMNGNQ
UGA
GNQ
GNQ
BWAUGAUGAGNBUGABEN
DJI
SLE
JORIRQNERLBNTCD
TCD
NERSGP
BIH
CODIRQNERBIHNER
OMNJORNERJORNERGMBJORNERMOZNER
GNQ
MOZ
GNQ
SWZ
COD
NERNERNERNER
YEM
SWZLBNMWI
NER
TCDGMB
SGPNERCODNEROMN
TCDOMNTCDRWA
TCD
JOROMN
SLEGNQ
CODGMBOMNSWZRWASWZOMN
SGP
SGP
SLEGMBYEMGINLBRRWAGMBOMN
LBR
GIN
OMN
GNQJORRWAGMBGMBRWAMWIOMNOMNYEMOMNMWIJORSLE
GNQYEM
SLEJOR
OMN
YEM
LBROMNLBROMNSLEOMNOMN
OMNLBRLBRGINLBR
GINJORJORMWIMWI
GNQ
GINGINTGOLBRRWAGNQGNQ
LBR
LBRGNQ
RWARWARWA
-4-2
02
4Ln
(Tot
al E
mis
sion
s)
-.1 -.05 0 .05 .1Ln(Total Population)
coef = 1.4851827, (robust) se = .22140545, t = 6.71
Residuals on ResidualsTotal Emissions and Population
Figure A12: Partial residual plot. Note that the x-axis is different in the two panels of the figure. Thisobscures the difference in slopes, which are listed below each scatter plot. The coefficient on populationis significantly larger. The difference in scales is necessary for visual inspection of the role of outliers.
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Total Emissions Ratio GDP per Capita Emissions Ratio
% Working Age Emissions Population Emission Ratio
Figure A13: Results from the economic-demographic model. All variables are the the ratio of the out-come of the low fertility scenario over the medium fertility scenario. Panel A (left) plots the mainoutcome variables. Panel B (right) decomposes the difference in emissions between sources.
31
8.8 Results with Alternate Technology Assumptions
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
0
0.2
0.4
0.6
0.8
1
1.2
2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 2075 2080 2085 2090 2095 2100
Emission Ratio GDP per capita Ratio
Population Ratio % Working Age Ratio
Figure A14: Panel A (left) plots the main outcome variables assuming a 2% per year growth rate forTFP. Panel B (right) plots the main outcome variables assuming a 5% per year growth rate for TFP. Theresults are nearly identical to our main results presented in figure 2.
32
8.9 Results with Nigeria Interaction
Table A8: Determinants of Carbon Emissions: Nigeria Interactions
(1) (2) (3) (4)Ln pop. (a) 1.361*** 1.461*** 1.398*** 1.431***
(0.173) (0.176) (0.175) (0.203)
Ln gdppc (b) 0.203*** 0.207*** 0.205*** 0.226***(0.044) (0.045) (0.045) (0.054)
(Ln gdppc)*NGA -0.003 0.033 0.032 0.007(0.045) (0.047) (0.047) (0.055)
(Ln pop)*NGA 0.260** 0.743*** 0.724*** 0.685***(0.106) (0.114) (0.111) (0.115)
% Age 15-64 0.017** 0.016** 0.016**(0.007) (0.007) (0.007)
% Urban 0.008* 0.014***(0.004) (0.005)
Trade (% of GDP) 0.0002(0.0002)
Year FE Yes Yes Yes YesObservations 7133 6426 6426 5679Countries 156 153 153 147R-squared 0.05 0.05 0.05 0.05Within R-Squared 0.017 0.020 0.020 0.023P-value: a = b 0.000 0.000 0.000 0.000P-value: a = 1 0.038 0.010 0.025 0.036
Notes: ∗p < 0.1, ∗ ∗ p < 0.05, ∗ ∗ ∗p < 0.01. Robust standard errors clustered at country level in parentheses. Equation estimated in first differences. In all specifications,
the dependent variable is the natural log of total CO2 emissions. The sample covers 1950-2010. Within R-squared is the percentage of variation in the dependent variable explained by the
independent variables after removing variation due to time and year fixed effects. NGA is a dummy variable for Nigeria.
33