Table 4: Pairwise correlation matrix.

Variable GFCF LAB FDEPT EDU AGRICP_V INST
GFCF 1 0.184575 -0.21745 -0.18361 0.176272 -0.13419
LAB 0.184575 1 0.470457 0.870627 0.576471 -0.85558
FDEPT -0.21745 0.470457 1 0.572177 0.364335 -0.41348
EDU -0.18361 0.870627 0.572177 1 0.52162 -0.73819
AGRICP_V 0.176272 0.576471 0.364335 0.52162 1 -0.48342
INST -0.13419 -0.85558 -0.41348 -0.73819 -0.48342 1

Source: Authors’ Computation