Pass-through of KIBOR to lending rate – conventional banks
| Variable | −1 | −2 | −3 | −4 |
|---|---|---|---|---|
| Coefficient | ||||
| Long run | 1.14*** | 0.94*** | 1.03*** | 0.90*** |
| Short run | 0.56*** | 0.56*** | 0.56*** | 0.57*** |
| Speed of adjustment | −0.08*** | −0.20*** | −0.14*** | −0.27*** |
| Control variables | ||||
| Real GDP growth | Sig at 5% | Sig at 10% | ||
| Exchange rate | Not sig | Not sig | ||
| Government borrowing | Not sig | Sig at 5% | ||
| Stock market | Not sig | Not sig | ||
| Post-Covid period | Not sig | Not sig | ||
| Constant | No | Yes | No | Yes |
| Trend | No | Yes | No | Yes |
| Observations | 236 | 236 | 236 | 236 |
| R-squared | 0.61 | 0.63 | 0.63 | 0.65 |
| Variable | −1 | −2 | −3 | −4 |
|---|---|---|---|---|
| Long run | 1.14 | 0.94 | 1.03 | 0.90 |
| Short run | 0.56 | 0.56 | 0.56 | 0.57 |
| Speed of adjustment | −0.08 | −0.20 | −0.14 | −0.27 |
| Real | Sig at 5% | Sig at 10% | ||
| Exchange rate | Not sig | Not sig | ||
| Government borrowing | Not sig | Sig at 5% | ||
| Stock market | Not sig | Not sig | ||
| Post-Covid period | Not sig | Not sig | ||
| Constant | No | Yes | No | Yes |
| Trend | No | Yes | No | Yes |
| Observations | 236 | 236 | 236 | 236 |
| 0.61 | 0.63 | 0.63 | 0.65 | |
***p < 0.01; **p < 0.05; *p < 0.1
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