Figure 1
A heat map representing the correlation between various variables. The heat map is structured as a grid with both axes labeled with variable names. The x-axis and y-axis both list the same set of variables: Exp, FDI, GDP, IND, LOG, LPCUST, LPINFRA, LPQLS, LPTL, LPTT, OLPI, TRFR. The color scale ranges from blue to red, indicating the strength and direction of the correlation, with red representing higher positive correlations and blue representing negative correlations. The values range from -0.25 to 1.00. Notable regions include high correlations between LPCUST and LPINFRA (0.89), LPCUST and LPQLS (0.89), and LPCUST and LPTL (0.93). There are also high correlations between LPTL and LPTT (0.82), and between OLPI and TRFR (0.82). Some variables show negative correlations, such as GDP and LPTL (-0.25). The heat map provides a visual representation of how these variables interact with each other, highlighting areas of strong positive and negative correlations.Correlation heatmap of variables. Source(s): Author’s elaboration