Table 2 Correlation matrix Variables... | Emerald Publishing

Table 2

Correlation matrix

Variables	GFCF	REM	INF	INT	HFC	TD	POP	GDP	HDI	EF	DR	FR
Gross fixed Cap. Form.	1
Remittances	−0.07	1
Inflation rate	−0.03	−0.03	1
Dep. Interest rate	−0.17	−0.07	0.37	1
Household Fina. Consp.	−0.38	0.39	0.20	0.12	1
Trade Openness	0.32	0.24	0.06	−0.41	0.20	1
Populations	0.02	−0.24	−0.05	0.25	0.07	−0.47	1
GDP Growth Rate	0.03	−0.07	0.01	0.10	0.06	−0.07	0.14	1
Human capital	0.14	−0.19	−0.03	−0.28	−0.34	−0.33	−0.54	−0.11	1
Economic Freedom	−0.06	0.03	0.12	0.01	0.14	0.17	−0.37	0.07	0.62	1
Democracy index	0.08	0.01	0.02	0.09	−0.11	0.05	−0.30	0.11	0.34	0.32	1
Freedom Index	−0.02	0.15	0.05	−0.03	0.09	0.11	−0.27	0.05	0.34	0.27	0.78	1

Variables	GFCF	REM	INF	INT	HFC	TD	POP	GDP	HDI	EF	DR	FR
Gross fixed Cap. Form.	1
Remittances	−0.07	1
Inflation rate	−0.03	−0.03	1
Dep. Interest rate	−0.17	−0.07	0.37	1
Household Fina. Consp.	−0.38	0.39	0.20	0.12	1
Trade Openness	0.32	0.24	0.06	−0.41	0.20	1
Populations	0.02	−0.24	−0.05	0.25	0.07	−0.47	1
GDP Growth Rate	0.03	−0.07	0.01	0.10	0.06	−0.07	0.14	1
Human capital	0.14	−0.19	−0.03	−0.28	−0.34	−0.33	−0.54	−0.11	1
Economic Freedom	−0.06	0.03	0.12	0.01	0.14	0.17	−0.37	0.07	0.62	1
Democracy index	0.08	0.01	0.02	0.09	−0.11	0.05	−0.30	0.11	0.34	0.32	1
Freedom Index	−0.02	0.15	0.05	−0.03	0.09	0.11	−0.27	0.05	0.34	0.27	0.78	1

Source(s): Authors' computations