Table 3.
Correlation matrix analysis.
| LNEF | 1 | ||||
| – | |||||
| LNGDP | 0.224 | 1 | |||
| 0.001 | – | ||||
| LNGDP2 | 0.225 | 1.000 | 1 | ||
| 0.001 | 0.000 | – | |||
| LNREI | -0.059 | 0.500 | 0.502 | 1 | |
| 0.931 | 0.0000 | 0.0000 | – | ||
| LNRE | 0.504 | 0.463 | 0.461 | 0.237 | 1 |
| 0.000 | 0.000 | 0.000 | 0.000 | – |
Source: Authors' computation
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