Public Investments, Human Capital, and Political Stability: The Triptych of Economic Success
Table 4
Simple correlations of fiscal variables and GDP growth per capita rate, 1990–2010.
Variables
Simple correlation
Initial GDP per capita
−0.028
Investments
0.374***
Public investments
0.296***
Private investments
0.202**
Debt
−0.165
Cash deficit/surplus
−0.004
Government consumption
−0.102
Volatility of consumption
−0.243**
Inflation
0.091
Openness
0.022
Initial average years of schooling
0.090
Initial primary pupils-teacher ratio
−0.241*
Initial life expectancy
0.109
Initial fertility rate
−0.116
Mortality growth (under 5)
−0.347***
Population growth
−0.083
Gini index
−0.051
Government effectiveness
0.236**
Rule of law
0.184*
Control of corruption
0.133
Correlation is significant at 0.01 level (2-tailed).
**Correlation is significant at 0.05 level (2-tailed).
*Correlation is significant at 0.1 level (2-tailed).