Table I. Correlation matrix PCI FDP BS...

Table I.

Correlation matrix

	PCI	FDP	BS	CDR	CPS	VT	TOR	INF	EXP	LNESE
PCI
FDP	0.57^*
BS	0.37^*	0.47^*
CDR	0.52^*	0.75^*	0.45^*
CPS	0.16	0.40^*	0.65^*	0.58^*
VT	0.25^*	0.54^*	0.55^*	0.25^*	0.49^*
TOR	0.19^*	0.43^*	−0.03	0.41^*	0.04^*	0.26^*
INF	−0.08	−0.39^*	−0.54^*	−0.19	−0.36^*	−0.30^*	−0.24^*
EXP	0.12	0.04	0.23^*	0.13	0.26^*	0.31^*	−0.14	0.29^*
LNESE	0.22^*	0.14	−0.33^*	−0.27^*	−0.57^*	−0.18	0.22^*	−0.07	−0.70^*	1

Note:

*Indicates significance at 5 per cent

Source: Authors calculations based on the data collected from World Development Indicators of World Bank

Sharing Unavailable