Variables, source and literature
| Variable definition | Measurement | Source | Reference literature |
|---|---|---|---|
| Panel A: Bank risk taking | |||
| Z-Score | The Z-score measures the distance to default of the banking sector. The higher the ZSCORE, the better | Global Financial Development Indicators | Sajid et al. (2023), Banna et al. (2021) and Wang and Luo (2022) |
| NPLs | Bank NPLs to total gross loans (%) | Global Financial Development Indicators | Zhang et al. (2023) and Li et al. (2022a, b) |
| Panel B: Bank characteristics | |||
| Bank size | Bank size = Log (Total assets) | Global Financial Development Indicators | Ochenge (2023) and Zhang et al. (2023) |
| Panel C: fintech variables | |||
| Mobile Money Accounts | Registered m-money accounts per 1,000 adults | Global Financial Development Indicators | Banna et al. (2021) |
| Mobile Money Agents | Mobile money agents per 100,000 adults | Global Financial Development Indicators | Ahamed and Mallick (2019) and Banna et al. (2021) |
| Mobile money agents outlets | Mobile money agents outlets per 1 000 km2 | Global Financial Development Indicators | Ahamed and Mallick (2019) and Banna et al. (2021) |
| Value of Mobile and Internet banking transactions | Value of mobile and Internet banking transactions (% of GDP) | Global Financial Development Indicators | Ahamed and Mallick (2019) and Banna et al. (2021) |
| Mobile and Internet banking transactions | Number of mobile and Internet banking transactions per 1,000 adults | Global Financial Development Indicators | Ahamed and Mallick (2019) and Banna et al. (2021) |
| Fintech-based financial inclusion (FBFI) – Overall | Fintech-based financial inclusion – Overall | Authors | |
| Fintech-based financial inclusion (FinUse) | Fintech-based financial inclusion (FinUse) | Authors | |
| Panel D: Macro-specific factors | |||
| Inflation, consumer prices (annual %) (INF) | Consumer prices (annual %) | Global Financial Development Indicators | Chinoda and Kapingura (2023) |
| GDP growth | (annual %) (GDPG) | Global Financial Development Indicators | Chinoda and Kapingura (2023) |
| Institutional quality (IQ) | Control of corruption | World Governance Indicators | Chinoda and Kapingura (2023) |
| Variable definition | Measurement | Source | Reference literature |
|---|---|---|---|
| Z-Score | The Z-score measures the distance to default of the banking sector. The higher the ZSCORE, the better | Global Financial | |
| NPLs | Bank NPLs to total gross loans (%) | Global Financial | |
| Bank size | Bank size = Log (Total assets) | Global Financial | |
| Mobile Money Accounts | Registered m-money accounts per 1,000 adults | Global Financial | |
| Mobile Money Agents | Mobile money agents per 100,000 adults | Global Financial | |
| Mobile money agents outlets | Mobile money agents outlets per 1 000 km2 | Global Financial | |
| Value of Mobile and Internet banking transactions | Value of mobile and Internet banking transactions (% of GDP) | Global Financial | |
| Mobile and Internet banking transactions | Number of mobile and Internet banking transactions per 1,000 adults | Global Financial | |
| Fintech-based financial inclusion (FBFI) – Overall | Fintech-based financial inclusion – Overall | Authors | |
| Fintech-based financial inclusion (FinUse) | Fintech-based financial inclusion (FinUse) | Authors | |
| Inflation, consumer prices (annual %) (INF) | Consumer prices (annual %) | Global Financial | |
| GDP growth | (annual %) (GDPG) | Global Financial | |
| Institutional quality (IQ) | Control of corruption | World Governance Indicators | |
Source(s): Authors’ own creation
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