Figure 3.
The correlation matrix on the left visualises pairwise relationships among M E N P, R M E N P, A I, M D I G, L R E G, and R L R E G. The diagonal contains self-correlations at one, while off-diagonal values show correlation strengths, most of which are statistically significant at three asterisks. For example, L R E G correlates strongly with R L R E G at 0.7923 and moderately with M D I G and A I. The adjacent error bar chart shows confidence intervals for selected variables along a horizontal axis centred at zero. Each line represents a different variable with distinct intervals, illustrating the variation and direction of estimated coefficients.Correlation among key variables and regression coefficients of labor market regulation intensity with 95% confidence intervals
Source: Author’s own creation