Table 3. Correlation matrix Variable... | Emerald Publishing

Table 3.

Correlation matrix

Variable name	1	2	3	4	5	6	7	8	9	10	11	12
Climate risk	1
Carbon emission	0.06	1
Economic development	0.08	0.66	1
Economic growth	−0.02	0.36	−0.34	1
Population	−0.28	−0.26	0	−0.48	1
Urban population	0.16	0.71	0.54	0.04	−0.01	1
Population growth	0.22	0.3	−0.39	0.55	−0.44	−0.05	1
Industrialisation	0.18	0.23	0.16	−0.14	0.3	0.18	−0.1	1
International trade	0.2	0.33	0.35	0.02	−0.42	0.28	−0.08	−0.06	1
Foreign direct investment	0.06	0.07	0.09	0.02	−0.14	0.09	−0.02	−0.12	0.29	1
Industry growth	−0.01	−0.1	−0.2	0.13	−0.01	−0.14	0.15	0	0.02	0.02	1
Natural resources	0.33	−0.02	−0.13	−0.04	0.12	0	0.05	0.65	−0.11	−0.06	0.09	1
Institutional quality	0.01	0.54	0.76	−0.04	−0.21	0.52	−0.1	−0.21	0.38	0.14	−0.13	−0.42

Variable name	1	2	3	4	5	6	7	8	9	10	11	12
Climate risk	1
Carbon emission	0.06	1
Economic development	0.08	0.66	1
Economic growth	−0.02	0.36	−0.34	1
Population	−0.28	−0.26	0	−0.48	1
Urban population	0.16	0.71	0.54	0.04	−0.01	1
Population growth	0.22	0.3	−0.39	0.55	−0.44	−0.05	1
Industrialisation	0.18	0.23	0.16	−0.14	0.3	0.18	−0.1	1
International trade	0.2	0.33	0.35	0.02	−0.42	0.28	−0.08	−0.06	1
Foreign direct investment	0.06	0.07	0.09	0.02	−0.14	0.09	−0.02	−0.12	0.29	1
Industry growth	−0.01	−0.1	−0.2	0.13	−0.01	−0.14	0.15	0	0.02	0.02	1
Natural resources	0.33	−0.02	−0.13	−0.04	0.12	0	0.05	0.65	−0.11	−0.06	0.09	1
Institutional quality	0.01	0.54	0.76	−0.04	−0.21	0.52	−0.1	−0.21	0.38	0.14	−0.13	−0.42

Notes:

This table presents the Pearson pairwise correlation matrix among the variables used in the estimations

Source: Authors’ own creation