Spearman correlations between the instrumental variable, model errors and the endogenous variable
| Brazil | Finland | Philippines | Saudi Arabia | |
|---|---|---|---|---|
| Panel A: Spearman correlations – Instrument and baseline model errors | ||||
| Rho | −0.2689 | −0.0280 | −0.0286 | 0.0250 |
| p-value | 0.000 | 0.2347 | 0.3665 | 0.2568 |
| Panel B: Spearman correlations – Instrument and endogenous variable | ||||
| Rho | 0.2543 | 0.0950 | 0.3089 | 0.0112 |
| p-value | 0.000 | 0.0001 | 0.000 | 0.6115 |
| Brazil | Finland | Philippines | Saudi Arabia | |
|---|---|---|---|---|
| Rho | −0.2689 | −0.0280 | −0.0286 | 0.0250 |
| 0.000 | 0.2347 | 0.3665 | 0.2568 | |
| Rho | 0.2543 | 0.0950 | 0.3089 | 0.0112 |
| 0.000 | 0.0001 | 0.000 | 0.6115 | |
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