Table 7
DETERMINANTS OF CURRENT ACCOUNTS INTEREST RATES
PANEL ESTIMATION, 1990-96
Dependent variable: current accounts’ rates in each province.
Independent variables: Herfindahl index for current accounts’ market shares (HER); concentration ratio
(R3), i.e. sum of the first 3 banks’ market shares per province; staff costs per employee (COSPER);
costs/total assets (COSRAT); number of banks per province (NBANKS). Variables refer to end-of-year
data, for the period 1990-96. Regressions include time dummy variables, whose coefficients are not
reported. t - statistics in brackets. * Significant at 1 per cent. ** Significant at 5 per cent. *** Significant at
10 per cent.
|
(i) |
(ii) |
(iii) |
(iv) |
(v) | |
|
HER |
-0.87 ** |
-0.77 |
*** | ||
|
* | |||||
|
(-1.91) |
(-1.68) | ||||
|
R3 |
-0.99 * |
-0.94 * | |||
|
-3.65 |
-3.42 | ||||
|
NBANKS |
0.007 ** |
0.007 |
*** 0.006 | ||
|
(1.98) |
(1.75) |
(1.51) | |||
|
COSPER |
-8.68 * |
-8.57 * |
-8.83 * |
-8.77 |
* -8.66 * |
|
(-4.21) |
(-4.16) |
(-4.28) |
(-4.25) |
(-4.20) | |
|
COSRAT |
19.47 * |
19.33 * |
19.66 * |
19.58 |
* 19.43 * |
|
(6.57) |
(6.53) |
(6.64) |
(6.61) |
(6.56) |
|
N. observat. |
8237 |
8237 |
8237 |
8237 |
8237 |
|
R2 |
0.85 |
0.85 |
0.85 |
0.85 |
0.85 |
|
Sum of squared |
2342.05 |
2338.77 |
2341.96 |
2341.01 |
2338.00 |
|
residuals | |||||
|
Hausman test |
47.30 |
53.81 |
49.43 |
58.50 |
76.70 |
36
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