Principal Indicator | Indexes | Cor. coef. (t-stats) | Eigen Value | First PC variation | Component Matrix | |
---|---|---|---|---|---|---|
Panel A: UEMOA | ||||||
 Financial Openness | Finopex | 0.898*** |  |  | FDIgdp | PCFgdp |
(23.53) | 1.898 | 0.949 | 0.707 | 0.707 | ||
 Globalization | Globex | 0.199** |  |  | Finopex | (I + X)gdp |
(2.34) | 1.199 | 0.599 | 0.707 | 0.707 | ||
Panel B: COMESA | ||||||
 Financial Openness | Finopex | 0.981*** |  |  | FDIgdp | PCFgdp |
(82.51) | 1.981 | 0.990 | 0.707 | 0.707 | ||
 Globalization | Globex | 0.250*** |  |  | Finopex | (I + X)gdp |
(4.15) | 1.250 | 0.625 | 0.707 | 0.707 | ||
Panel C: CEMAC | ||||||
 Financial Openness | Finopex | 0.994*** |  |  | FDIgdp | PCFgdp |
(64.94) | 1.994 | 0.997 | 0.707 | 0.707 | ||
 Globalization | Globex | 0.360** |  |  | Finopex | (I + X)gdp |
(2.58) | 1.360 | 0.680 | 0.707 | 0.707 | ||
Panel D: EAC | ||||||
 Financial Openness | Finopex | 0.996*** |  |  | FDIgdp | PCFgdp |
(88.912) | 1.996 | 0.998 | 0.707 | 0.707 | ||
 Globalization | Globex | −0.352*** |  |  | Finopex | (I + X)gdp |
(−2.744) | 1.352 | 0.676 | −0.707 | − 0.707 |