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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