Table A3 Matrix of correlations... | Emerald Publishing

Table A3

Matrix of correlations

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)
(1) Enrolment in primary education, female	1.000
(2) Enrolment in secondary education, female	0.995	1.000
(3) female government spending on primary education	−0.403	−0.427	1.000
(4) female government spending on secondary education	−0.276	−0.279	0.925	1.000
(5) C3	−0.082	−0.096	0.727	0.644	1.000
(6) C5	−0.076	−0.070	0.685	0.650	0.947	1.000
(7) Democracy	−0.012	0.000	−0.746	−0.677	−0.757	−0.692	1.000
(8) Electricity	0.216	0.209	0.701	0.689	0.886	0.900	−0.831	1.000
(9) Urbanization	0.184	0.139	0.296	0.262	0.146	0.204	−0.258	0.335	1.000
(10) FDI	0.433	0.398	−0.043	−0.112	0.195	0.003	−0.271	0.203	0.161	1.000
(11) Inflation	−0.084	−0.061	−0.123	0.012	−0.204	−0.238	0.253	−0.248	−0.431	0.083	1.000
(12) Trade openness	−0.013	−0.048	0.679	0.486	0.858	0.731	−0.824	0.804	0.135	0.392	−0.242	1.000
(13) Corruption1	−0.280	−0.265	0.264	0.081	0.528	0.528	−0.487	0.387	−0.047	0.117	−0.369	0.616	1.000

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)
(1) Enrolment in primary education, female	1.000
(2) Enrolment in secondary education, female	0.995	1.000
(3) female government spending on primary education	−0.403	−0.427	1.000
(4) female government spending on secondary education	−0.276	−0.279	0.925	1.000
(5) C3	−0.082	−0.096	0.727	0.644	1.000
(6) C5	−0.076	−0.070	0.685	0.650	0.947	1.000
(7) Democracy	−0.012	0.000	−0.746	−0.677	−0.757	−0.692	1.000
(8) Electricity	0.216	0.209	0.701	0.689	0.886	0.900	−0.831	1.000
(9) Urbanization	0.184	0.139	0.296	0.262	0.146	0.204	−0.258	0.335	1.000
(10) FDI	0.433	0.398	−0.043	−0.112	0.195	0.003	−0.271	0.203	0.161	1.000
(11) Inflation	−0.084	−0.061	−0.123	0.012	−0.204	−0.238	0.253	−0.248	−0.431	0.083	1.000
(12) Trade openness	−0.013	−0.048	0.679	0.486	0.858	0.731	−0.824	0.804	0.135	0.392	−0.242	1.000
(13) Corruption1	−0.280	−0.265	0.264	0.081	0.528	0.528	−0.487	0.387	−0.047	0.117	−0.369	0.616	1.000

Note(s): C5: The total assets held by the five largest banks in countries. C3: The total assets held by the three largest banks in countries. FDI: foreign direct Investments