Table 2.
Correlation coefficient matrix analysis
| Observations | GDP | FDI | IND | COAL | TNR |
|---|---|---|---|---|---|
| GDP | 1.000 | ||||
| FDI | 0.229 | 1.000 | |||
| IND | 0.756*** | 0.351** | 1.000 | ||
| COAL | 0.369*** | 0.348** | 0.864*** | 1.000 | |
| TNR | 0.452*** | − 0.078 | 0.259** | 0.099 | 1.000 |
Series are in their level form
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