Governance, capital flight and industrialisation in Africa

Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 7 Correlation matrix (uniform sample size 291)

Control variables					Political governance			Economic governance			Institutional governance
Pop	GFCF	Trade	Domcred	BcBd	PS	VA	Polgov	GE	RQ	Ecogov	RL	CC	Instgov	Capfl.	Industria
1.000	− 0.300	− 0.288	0.159	− 0.032	− 0.313	− 0.132	− 0.247	− 0.098	− 0.132	− 0.120	− 0.115	− 0.226	− 0.177	0.420	− 0.215	Pop
	1.000	0.382	0.200	− 0.169	0.442	0.375	0.443	0.447	0.411	0.450	0.532	0.464	0.516	− 0.028	− 0.214	GFCF
		1.000	0.033	− 0.159	0.336	0.094	0.241	0.150	0.062	0.112	0.179	0.241	0.218	− 0.128	0.175	Trade
			1.000	0.406	0.282	0.105	0.215	0.539	0.328	0.456	0.457	0.425	0.457	0.132	0.250	Domcred
				1.000	− 0.049	− 0.155	− 0.106	0.040	0.074	0.059	− 0.076	0.036	− 0.019	− 0.086	0.239	BcBd
					1.000	0.724	0.938	0.715	0.683	0.732	0.801	0.743	0.801	− 0.138	0.088	PS
						1.000	0.917	0.665	0.667	0.697	0.737	0.696	0.743	− 0.074	− 0.196	VA
							1.000	0.744	0.727	0.771	0.831	0.776	0.833	− 0.117	− 0.047	Polgov
								1.000	0.824	0.957	0.879	0.847	0.895	0.055	0.057	GE
									1.000	0.952	0.834	0.745	0.818	0.159	0.069	RQ
										1.000	0.897	0.835	0.898	0.110	0.066	Ecogov
											1.000	0.857	0.963	0.040	0.036	RL
												1.000	0.964	− 0.073	0.130	CC
													1.000	− 0.018	0.087	Instgov
														1.000	− 0.063	Capfl.
															1.000	Industria

Pop population, GFCF gross fixed capital formation, Domcred domestic credit to the private sector, BcBd bank credit to bank deposits, PS political stability/non-violence, VA voice and accountability, Polgov political governance, GE government effectiveness, RQ regulation quality, Ecogov economic governance, CC corruption-control, RL rule of law, Instgov institutional governance, Capfl capital flight, Industria industralisation