Table 1 Correlation matrix and principal component analysis results for governance and ICT indicators
Panel A: Correlation matrix results for Governance indicators | |||||||
|---|---|---|---|---|---|---|---|
| Â | Effectiveness | Stability | Corruption | Regulation | Law | Accountability | Â |
 Effectiveness | 1.000 |  |  |  |  |  |  |
 Stability | 0.639 0.000 | 1.000 |  |  |  |  |  |
 Corruption | 0.847 0.000 | 0.677 0.000 | 1.000 |  |  |  |  |
 Regulation | 0.903 0.000 | 0.627 0.000 | 0.823 0.000 | 1.000 |  |  |  |
 Law | 0.904 0.000 | 0.754 0.000 | 0.886 0.000 | 0.885 0.000 | 1.000 |  |  |
 Accountability | 0.682 0.000 | 0.598 0.000 | 0.709 0.000 | 0.727 0.000 | 0.787 0.000 | 1.000 |  |
Panel A1: Principal component eigenvalue results | |||||||
 Components | Eigenvalue | Difference | Proportion | Cumulative |  |  |  |
  Comp 1 | 4.834 | 4.380 | 0.806 | 0.806 |  |  |  |
  Comp 2 | 0.455 | 0.085 | 0.076 | 0.882 |  |  |  |
  Comp 3 | 0.370 | 0.188 | 0.062 | 0.943 |  |  |  |
  Comp 4 | 0.181 | 0.086 | 0.030 | 0.973 |  |  |  |
  Comp 5 | 0.095 | 0.030 | 0.016 | 0.989 |  |  |  |
  Comp 6 | 0.065 |  | 0.011 | 1.000 |  |  |  |
Panel A2: Principal component eigenvector results | |||||||
 Variables | Comp1 | Comp 2 | Comp 3 | Comp 4 | Comp 5 | Comp 6 | Unexplained |
  Effectiveness | 0.423 | -0.287 | -0.321 | 0.244 | -0.575 | 0.495 | 0.000 |
  Stability | 0.359 | 0.897 | -0.125 | 0.148 | 0.080 | 0.151 | 0.000 |
  Corruption | 0.419 | -0.100 | -0.175 | -0.841 | 0.231 | 0.153 | 0.000 |
  Regulation | 0.422 | -0.318 | -0.150 | 0.459 | 0.696 | -0.060 | 0.000 |
  Law | 0.442 | -0.013 | -0.059 | -0.012 | -0.350 | -0.824 | 0.000 |
  Accountability | 0.378 | -0.050 | 0.908 | 0.020 | 0.056 | 0.163 | 0.000 |
Panel B: Correlation matrix results for ITC indicators | |||||||
| Â | Internet | Cellular | Â | Â | Â | Â | Â |
 Internet | 1.000 |  |  |  |  |  |  |
 Cellular | 0.805 0.000 | 1.000 |  |  |  |  |  |
Panel B1: Principal Component results | |||||||
 Components | Eigenvalue | Difference | Proportion | Cumulative |  |  |  |
  Comp 1 | 1.805 | 1.609 | 0.902 | 0.902 |  |  |  |
  Comp 2 | 0.195 |  | 0.098 | 1.000 |  |  |  |
Panel B2: Principal component eigenvector results | |||||||
 Variables | Comp1 | Comp 2 | Unexplained |  |  |  |  |
  Internet | 0.707 | 0.707 | 0.000 |  |  |  |  |
  Cellular | 0.707 | -0.707 | 0.000 |  |  |  |  |