Table 1 Correlation matrix and...

Table 1

Correlation matrix and multicollinearity test

	LnRTEDS	LnM	LnMON	LnGDPpc	LnEXR
LnRTEDS	1.000
LnM	−0.806	1.000
LnMON	−0.789	0.754	1.000
LnGDPpc	−0.836	0.651	0.873	1.000
LnEXR	−0.825	0.781	0.939	0.918	1.000
VIF	5.680	4.460	8.62	9.970	15.850
Mean VIF = 8.920
Mean VIF = 5.360 (without exchange rate)

	LnRTEDS	LnM	LnMON	LnGDPpc	LnEXR
LnRTEDS	1.000
LnM	−0.806	1.000
LnMON	−0.789	0.754	1.000
LnGDPpc	−0.836	0.651	0.873	1.000
LnEXR	−0.825	0.781	0.939	0.918	1.000
VIF	5.680	4.460	8.62	9.970	15.850
Mean VIF = 8.920
Mean VIF = 5.360 (without exchange rate)