Variables

Factor loading

Cronbach’s Alpha

rho_A

C. R

AVE

1) C. Corruption

CC1

0.775

0.833*

0.831

0.901

0.753

CC2

0.899

CC3

0.922

2) Democracy

DEMO1

0.961

0.946*

0.995

0.964

0.9

DEMO2

0.929

DEMO3

0.956

3) Ease of Doing Business

EODB1

0.976

0.954*

0.955

0.967

0.881

EODB2

0.973

EODB3

0.855

EODB4

0.945

4) Peace & Stability

PS1

0.871

0.813*

0.814

0.89

0.729

PS2

0.798

PS3

0.89