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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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