| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) |
| (1) Productivity | 1.000 |
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| (2) LnFirmge | 0.073 | 1.000 |
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| (3) Exporter | 0.179 | 0.102 | 1.000 |
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| (4) Private domestic | −0.180 | 0.042 | −0.080 | 1.000 |
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| (5) Foreign private | 0.221 | −0.017 | 0.122 | −0.759 | 1.000 |
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| (6) Female Ownership | 0.120 | −0.009 | 0.011 | −0.024 | 0.009 | 1.000 |
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| (7) Internal Funds | −0.132 | −0.068 | −0.093 | 0.097 | −0.142 | −0.005 | 1.000 |
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| (8) Borrowed-banks | 0.118 | 0.084 | 0.103 | −0.063 | 0.068 | 0.000 | −0.503 | 1.000 |
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| (9) Borrowed-nonBank | −0.012 | −0.043 | −0.006 | 0.047 | −0.028 | 0.007 | −0.388 | 0.067 | 1.000 |
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| (10) Trade credit | 0.148 | 0.064 | 0.038 | −0.133 | 0.191 | 0.036 | −0.720 | 0.052 | 0.057 | 1.000 |
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| (11) Line of credit | −0.013 | −0.061 | −0.031 | 0.070 | −0.053 | 0.002 | 0.219 | −0.217 | −0.141 | −0.087 | 1.000 |
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| (12) Top M. Exper. | 0.100 | 0.566 | 0.085 | −0.004 | 0.034 | −0.002 | −0.018 | 0.030 | −0.064 | 0.057 | −0.032 | 1.000 |