Table 3.
Descriptive statistics, correlation matrix, and VIF.
| Variables | Mean | Std.Dev | Maximum | Maximum | VIF | Correlation |
|---|---|---|---|---|---|---|
| InEVD | 6.010 | 0.867 | 7.748 | 5.267 | 2.364 | |
| InEGC | 5.186 | 0.515 | 6.778 | 4.477 | 3.055 | 0.583*** |
| InENC | 7.714 | 0.856 | 5.413 | 1.880 | 2.380 | 0.198*** |
| InGE | 3.956 | 0.335 | 4.466 | 2.467 | 1.457 | 0.441*** |
| InRQ | 3.815 | 0.494 | 4.395 | 0.218 | 1.035 | −0.202*** |
| InTI | 8.958 | 0.503 | 14.147 | 4.927 | 2.032 | 0.373*** |
| InGSRD | 3.138 | 0.397 | 9.249 | 1.342 | 2.859 | 0.698*** |
Note: *** indicates a 1% significance level. EVD-Environmental degradation- EGC-Economic Growth, ENC-energy consumption, RQ-Regulatory quality), GE-Government effectiveness, and GSRD-Government spending on research and development.