Table 2: Correlation of agricultural price volatility and macroeconomic aggregates.

Variable agricp_v Coms_c Govt _c Infl_c Inv_c Resv_c Rgdp_c
agricp_v 1.0000 - - - - - -
Coms_c 0.1328 1.0000 - - - - -
0.4400 - - - - - -
Govtexp_c 0.6391*** 0.4293*** 1.0000 - - - -
0.0000 0.0090 - - - - -
Infl_c 0.0711 0.0395 0.0328 1.0000 - - -
0.6757 0.8193 0.8494 - - - -
Inv_c 0.3809** 0.3818** 0.3376** -0.0152 1.0000 - -
0.0219 0.0216 0.0441 0.9298 - - -
Resv_c 0.1124 0.3149* 0.5882*** -0.1214 0.0233 1.0000 -
0.5078 0.0614 0.0002 0.4740 0.8929 - -
Rgdp_c 0.3116* 0.5233*** 0.4638*** -0.0028 0.2241 0.2888* 1.0000
0.0604 0.0011 0.0044 0.9867 0.1888 0.0787 -

*, **, *** implies significance at 1%, 5% and 10% respectively
Source: Compiled by authors using Stata