Table 1.
Baseline multivariate regressions
| Baseline model | Excluding USA | LnCVD | DGR | Ln_ZS | SD_QR | SD_DR | SD_QR | High-income | Low-income | |
|---|---|---|---|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | |
| CVD |
-0.756*** (0.049) |
-0.695*** (0.144) |
-1.334*** (0.124) |
-1.779*** (0.017) |
-0.022*** (0.005) |
2.507*** (0.256) |
0.334*** (0.087) |
1.898*** (0.540) |
-0.702*** (0.060) |
-0.669*** (0.176) |
| Size |
1.563 (1.740) |
-1.894* (0.956) |
-0.243 (0.662) |
1.558 (1.728) |
-0.198 (0.147) |
19.706** (7.613) |
0.396 (1.720) |
2.293 (11.121) |
3.485** (1.328) |
-1.506* (0.772) |
| Capital |
39.435*** (8.272) |
32.238*** (11.405) |
40.732*** (12.722) |
38.487*** (8.499) |
-1.014** (0.427) |
-2.339 (23.128) |
-8.452* (4.272) |
-20.228 (16.564) |
49.160*** (17.455) |
35.424*** (10.119) |
| Asset_Quality |
1.479 (1.572) |
-1.455 (6.735) |
4.771*** (1.601) |
0.953 (1.723) |
-0.068 (0.220) |
-0.748 (1.678) |
-2.039*** (0.361) |
-2.789 (4.731) |
0.705 (2.221) |
5.808 (4.500) |
| Loans |
9.570*** (2.494) |
5.122*** (1.665) |
6.601* (3.802) |
8.939*** (2.818) |
0.354*** (0.074) |
3.428 (4.275) |
-2.858 (2.908) |
-18.829 (21.531) |
12.831*** (0.805) |
4.129* (2.269) |
| Deposits |
1.539 (1.388) |
-0.446 (2.431) |
4.498*** (1.631) |
1.798 (1.326) |
-0.122 (0.178) |
16.426 (11.211) |
0.472 (0.680) |
1.857 (6.033) |
2.642** (1.065) |
0.026 (2.443) |
| Growth |
-2.734** (1.079) |
-3.786 (2.308) |
-1.637** (0.652) |
-2.813** (1.074) |
-0.103* (0.059) |
-5.142 (4.943) |
-0.290 (1.227) |
-7.250 (7.177) |
-1.869*** (0.572) |
-3.560 (3.082) |
| Earnings |
-25.666*** (7.281) |
-27.700** (11.254) |
-14.004 (9.560) |
-26.704*** (7.732) |
-0.835* (0.470) |
-7.031 (17.129) |
-5.320 (6.681) |
-34.038 (40.873) |
-20.636*** (2.193) |
-25.603* (12.663) |
| Healthcare |
-3.592 (3.106) |
-3.754 (3.297) |
-9.420** (4.425) |
-3.529 (3.079) |
-0.424 (0.370) |
17.812*** (4.204) |
3.559*** (1.190) |
2.043 (10.200) |
-39.638*** (5.528) |
-6.194** (2.187) |
| GDP |
0.309 (0.233) |
0.323 (0.241) |
0.414** (0.158) |
0.306 (0.231) |
0.041 (0.030) |
-0.438* (0.248) |
-0.029 (0.082) |
0.301 (0.313) |
-0.168 (0.348) |
0.627*** (0.171) |
| Econ_Support |
-0.069*** (0.001) |
-0.068*** (0.002) |
-0.056*** (0.014) |
-0.131*** (0.003) |
-0.005*** (0.000) |
0.250*** (0.023) |
-0.016** (0.007) |
0.111*** (0.037) |
0.072*** (0.013) |
-0.001 (0.004) |
| Stringency |
0.001 (0.024) |
-0.047* (0.026) |
-0.459*** (0.027) |
0.192*** (0.019) |
-0.002 (0.002) |
0.160*** (0.030) |
-0.029*** (0.005) |
0.025 (0.034) |
0.021 (0.035) |
0.134*** (0.009) |
| Containment |
-0.071** (0.029) |
-0.012 (0.033) |
0.682*** (0.053) |
-0.174*** (0.030) |
0.001 (0.003) |
-0.283*** (0.060) |
0.044*** (0.016) |
-0.010 (0.080) |
-0.079* (0.041) |
0.042* (0.022) |
| Constant |
41.455 (30.601) |
72.291*** (26.688) |
103.119*** (36.041) |
41.777 (30.008) |
8.577** (3.478) |
-334.326*** (99.389) |
-25.279 (20.523) |
-24.860 (144.593) |
335.750*** (55.345) |
49.339*** (15.327) |
| Observations | 1,953 | 1,110 | 2,563 | 1,917 | 1,949 | 1,905 | 1,905 | 1,903 | 1,366 | 587 |
| AdjR2 | 0.206 | 0.251 | 0.199 | 0.207 | 0.291 | 0.334 | 0.650 | 0.284 | 0.218 | 0.206 |
| #Banks | 547 | 309 | 681 | 547 | 547 | 531 | 531 | 531 | 389 | 158 |
| FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| F Statistic | 51.37*** | 8.51*** | 38.87*** | 17.04*** | 163.37*** | 13.83*** | 70.12*** | 47.79*** | 1287.13*** | 24.36*** |
In this tables, we report the results from our baseline multivariate regressions. All models include bank- and macro-controls, as well as country-year and bank-fixed effects. Standard errors are in parentheses. ***, **, and * indicate statistical significance at 1%, 5%, and 10%, respectively