Table 1.

Description of variables

VariableAcronymProxy
Bank depositsBDTotal value of demand, time and saving deposit (% of GDP)
Bank stabilityBSProxied by bank z-score
Bank efficiencyBEFProxied by bank net interest margin
Branch expansionBRANumber of commercial bank branches per 100,000 adults
Broad moneyBMBroad money supply (% of GDP)
Economic growthRGDPAnnual percentage change of real GDP
InflationINFConsumer prices (annual %)

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