A COMPARATIVE STUDY OF ALTERNATIVE ECONOMETRIC PACKAGES: AN APPLICATION TO ITALIAN DEPOSIT INTEREST RATES

Table 8

DETERMINANTS OF CERTICATES OF DEPOSIT INTEREST RATES
PANEL ESTIMATION , 1990-96

Dependent variable: rates on certificates of deposit in each province.

Independent variables: Herfindahl index for market shares of certificates of deposit (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.

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