Table 4

Correlation matrix of the variables

Income share by 20%Poverty gap at $1.90Poverty gap at $3.20Poverty headc. at $1.90Poverty headc at $3.20Per capita incomeInformality 1Informality 2
Income Share by Lowest 20%1.0000       
Poverty Gap at $1.900.0413**1.0000      
Poverty Gap at $3.200.2067***0.9664***1.0000     
Poverty Headcount at $1.900.2192***0.9503***0.9962***1.0000    
Poverty Headcount at $3.200.4227***0.8176***0.9365***0.9437***1.0000   
GDP Per Capita−0.4948***−0.2439***−0.3284***−0.3194***−0.4280***1.0000  
Informality Measure 10.3305***0.2413***0.2684***0.2615***0.2892***−0.316***1.0000 
Informality Measure 20.2140**0.2225***0.2292***0.2168**0.2293***−0.299***0.8335***1.0000

Note(s): *** and ** denotes 1 and 5% significant levels respectively

Source(s): Authors (2023)

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