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

Financial Innovation

Table 9 Full correlation matrix

Infra	Infla	Nres	VA	PS	RQ	GE	RL	CC	InstIndex	NFDI	RGDP
1.000	−0 .102	0.277	0.032	0.291	0.291	0.190	0.132	0.141	0.212	0.183	0.198	Infra
	1.000	0.077	−0.061	−0.274	−0.124	− 0.254	−0.150	− 0.253	−0.219	− 0.251	−0.339	Infla
		1.000	−0.269	−0.228	− 0.261	−0.345	− 0.490	−0.455	− 0.397	0.049	0.066	Nres
			1 .000	0.329	0.542	0.457	0.538	0.632	0.648	−0.056	−0.241	VA
				1.000	0.774	0.759	0.579	0.752	0.817	0.221	0.450	PS
					1.000	0.883	0.716	0.886	0.934	−0.028	0.255	RQ
						1.000	0.827	0.861	0.936	0.128	0.393	GE
							1.000	0.818	0.868	0.028	0.326	RL
								1.000	0.959	−0.067	0.181	CC
									1.000	−0.028	0.282	InstIndex
										1.000	0.697	NFDI
											1.000	RGDP

Infra Infrastructure, Infla Inflation, Nres Natural resources, VA voice & accountability, PS political stability, RQ regulation quality, GE government effectiveness, RL rule of law, CC Corruption-control, InstIndex Institutional index, NFDI Net Foreign Direct Investment, RGDP real GDP