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).