Nexus of governance, macroeconomic conditions, and financial stability of banks: a comparison of developed and emerging countries

Financial Innovation

Table 5 Pairwise correlations results emerging countries

	Variables	1	2	3	4	5	6	7	8	9	10	11
(1)	FSI	1.000
(2)	INFL	− 0.064*	1.000
(3)	IR	0.055	− 0.098***	1.000
(4)	MS	− 0.208***	− 0.158***	− 0.073*	1.000
(5)	GDPG	0.042	0.012	− 0.013	− 0.035	1.000
(6)	V & A	− 0.017	− 0.111***	0.071*	0.039	− 0.075**	1.000
(7)	PS	0.117***	− 0.203***	− 0.062*	0.067*	− 0.072*	0.489***	1.000
(8)	GE	− 0.023	− 0.242***	− 0.133***	0.363***	− 0.011	0.557***	0.606***	1.000
(9)	RQ	− 0.083**	− 0.247***	− 0.039	0.285***	− 0.059	0.607***	0.480***	0.548***	1.000
(10)	RL	− 0.027	− 0.194***	− 0.063*	0.262***	− 0.027	0.671***	0.603***	0.588***	0.411***	1.000
(11)	CC	0.024	− 0.177***	− 0.076**	0.228***	− 0.019	0.578***	0.675***	0.527***	0.406***	0.591***	1.000