| Panel A: Correlation matrix of the model with the dependent variable GDP per person employed | ||||||
| Variables | Inclusive growth | Ease of Doing Business | Investment | Industry value added | Life expectancy at birth | Inflation |
| GDP per person employed | 1.000 |
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| Ease of Doing Business | 0.369*** | 1.000 |
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| Investment | 0.104** | 0.060 | 1.000 |
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| Industry added value | 0.589*** | −0.068 | 0.303*** | 1.000 |
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| Life expectancy | 0.315*** | 0.499*** | 0.253*** | 0.025 | 1.000 |
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| Inflation | −0.091* | −0.043 | −0.100** | 0.043 | −0.068 | 1.000 |
| Panel B: Correlation matrix of the model with the inclusive growth index as the dependent variable | ||||||
| Inclusive growth Index | Inclusive growth Index | Ease of Doing Business | Investment | Industry value added | Life expectancy at birth | Inflation |
| Ease of Doing Business | 0.741*** | 1.000 |
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| Investment | 0.309*** | 0.175*** | 1.000 |
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| Industry added value | −0.043 | −0.168*** | 0.341*** | 1.000 |
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| Life expectancy | 0.484*** | 0.382*** | 0.229*** | −0.065 | 1.000 |
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| Inflation | 0.074 | 0.007 | −0.072 | 0.122** | −0.039 | 1.000 |