Table 3 Correlation matrix Variables HDI... | Emerald Publishing

Table 3

Correlation matrix

Variables	HDI	REM	GFCF	HFC	DCP	GFC	INF	POP	GDP	EF	DR
HDI	1
Remittances	−0.193	1
Gross fixed capital forma	0.234	0.376	1
Household final consump	−0.338	0.392	−0.122	1
Domestic credit by banks	0.654	−0.166	0.258	−0.18	1
Gov't final consump	0.218	−0.068	0.27	−0.38	0.024	1
Inflation	−0.028	−0.025	−0.093	0.202	−0.133	−0.06	1
Population growth	−0.537	−0.235	−0.547	0.072	−0.532	−0.01	−0.05	1
GDP growth rate	−0.112	−0.070	−0.11	0.056	−0.082	−0.02	0.005	0.139	1
Economic freedom	0.617	0.028	−0.003	0.139	0.48	0.1	0.121	0.366	0.066	1
Democracy	0.338	0.15	−0.028	0.092	0.442	0.249	0.053	−0.271	0.050	0.274	1

Variables	HDI	REM	GFCF	HFC	DCP	GFC	INF	POP	GDP	EF	DR
HDI	1
Remittances	−0.193	1
Gross fixed capital forma	0.234	0.376	1
Household final consump	−0.338	0.392	−0.122	1
Domestic credit by banks	0.654	−0.166	0.258	−0.18	1
Gov't final consump	0.218	−0.068	0.27	−0.38	0.024	1
Inflation	−0.028	−0.025	−0.093	0.202	−0.133	−0.06	1
Population growth	−0.537	−0.235	−0.547	0.072	−0.532	−0.01	−0.05	1
GDP growth rate	−0.112	−0.070	−0.11	0.056	−0.082	−0.02	0.005	0.139	1
Economic freedom	0.617	0.028	−0.003	0.139	0.48	0.1	0.121	0.366	0.066	1
Democracy	0.338	0.15	−0.028	0.092	0.442	0.249	0.053	−0.271	0.050	0.274	1

Source(s): Authors' computations