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Fig 1.

The ratio of G20 countries’ total CO2 emissions to the world’s.

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Table 1.

Definition and source of the used data.

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Fig 2.

Line chart of financial development and CO2 emissions.

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Table 2.

Summary statistics and correlations.

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Table 3.

Results of benchmark estimation.

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Table 4.

Robustness checks.

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Table 5.

Heterogeneity test results of economic development level.

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Table 6.

Results of governance quality sub-indicator test.

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