Table 1. The correlation matrix of the... | Emerald Publishing

Table 1.

The correlation matrix of the 11 pillars of the RCI

	Basic					Efficiency			Innovation
	1	2	3	4	5	6	7	8	9	10	11
1. Institutions	1.000
2. Macroeconomic stability	0.575**	1.000
3. Infrastructure	0.550**	0.292**	1.000
4. Health	0.438**	−0.039	0.474**	1.000
5. Basic education	0.716**	0.716**	0.442**	0.308**	1.000
6. Higher education and LLL	0.642**	0.473**	0.327**	0.271**	0.457**	1.000
7. Labor market efficiency	0.770**	0.683**	0.521**	0.291**	0.567**	0.652**	1.000
8. Market size	0.473**	0.366**	0.809**	0.373**	0.348**	0.310**	0.636**	1.000
9. Technological readiness	0.929**	0.552**	0.646**	0.484**	0.646**	0.588**	0.775**	0.603**	1.000
10. Business sophistication	0.606**	0.235**	0.727**	0.460**	0.392**	0.458**	0.552**	0.729**	0.660**	1.000
11. Innovation	0.676**	0.401**	0.686**	0.501**	0.459**	0.731**	0.734**	0.690**	0.724**	0.757**	1.000

	Basic					Efficiency			Innovation
	1	2	3	4	5	6	7	8	9	10	11
1. Institutions	1.000
2. Macroeconomic stability	0.575**	1.000
3. Infrastructure	0.550**	0.292**	1.000
4. Health	0.438**	−0.039	0.474**	1.000
5. Basic education	0.716**	0.716**	0.442**	0.308**	1.000
6. Higher education and LLL	0.642**	0.473**	0.327**	0.271**	0.457**	1.000
7. Labor market efficiency	0.770**	0.683**	0.521**	0.291**	0.567**	0.652**	1.000
8. Market size	0.473**	0.366**	0.809**	0.373**	0.348**	0.310**	0.636**	1.000
9. Technological readiness	0.929**	0.552**	0.646**	0.484**	0.646**	0.588**	0.775**	0.603**	1.000
10. Business sophistication	0.606**	0.235**	0.727**	0.460**	0.392**	0.458**	0.552**	0.729**	0.660**	1.000
11. Innovation	0.676**	0.401**	0.686**	0.501**	0.459**	0.731**	0.734**	0.690**	0.724**	0.757**	1.000

Note:

**Correlation is significant at the 0.01 level (2-tailed)

Source: Table by authors