Assessing the determinants of government spending efficiency in Africa

Future Business Journal

Table 4 Matrix of correlations

Variables	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)
(1) HDI	1.000
(2) GOV	0.276	1.000
(3) GDP	0.385	− 0.056	1.000
(4) LAB	− 0.470	− 0.047	− 0.285	1.000
(5) CAP	0.264	0.145	0.004	− 0.144	1.000
(6) RENT	− 0.098	− 0.144	− 0.004	0.081	0.199	1.000
(7) COR	0.453	0.386	0.047	− 0.193	0.087	− 0.479	1.000
(8) EFFE	0.571	0.349	0.175	− 0.182	0.136	− 0.438	0.864	1.000
(9) COL	0.166	− 0.214	0.096	− 0.160	0.191	0.041	− 0.170	− 0.153	1.000
(10) DUM_RE	− 0.212	− 0.199	− 0.057	0.222	0.363	0.431	− 0.331	− 0.342	0.159	1.000
(11) EFF	0.121	− 0.237	0.196	− 0.045	0.022	0.028	− 0.169	− 0.190	0.541	0.104	1.000

HDI human development index, GOV government spending, GDP size of an economy, LAB labour productivity, CAP gross fixed capital formation, RENT resources rent, COR control of corruption, EFFE government effectiveness, COL colonial legacy, DUM_RE dummy variable, EFF efficiency