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Financial Innovation

Table 3 Matrix of pair-wise correlation coefficients for institutional and governance indicators

From: Determinants of foreign direct investment in fast-growing economies: evidence from the BRICS and MINT countries

Legend

Indicators

V.A.

P.S.

G.E.

R.Q.

R.L.

C.C.

Correlation

V.A.

1

     

t-Statistic

–

     

Probability

–

     
 

P.S.

0.3294

1

    

3.4364

–

    

0.0009

–

    

G.E.

0.4571

0.7597

1

   

5.0613

11.5077

–

   

0.0000

0.0000

–

   

R.Q.

0.5429

0.7742

0.8836

1

  

6.3675

12.0485

18.5806

–

  

0.0000

0.0000

0.0000

–

  

R.L.

0.5386

0.5793

0.8279

0.7166

1

 

6.2964

7.0005

14.5361

10.1199

–

 

0.0000

0.0000

0.0000

0.0000

–

 

C.C.

0.6329

0.7521

0.8618

0.8868

0.8189

1

8.0509

11.2397

16.7292

18.9009

14.0510

–

0.0000

0.0000

0.0000

0.0000

0.0000

–

  1. VA Voice and Accountability, PS Political Stability, GE Governance Effectiveness, RQ Regulatory Quality, RL Rule of Law, CC Control of corruption
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