Table 5

Convergent clusters

European UnionClub 1Club 2Club 3Club 4Club 5Club 6Club 7
Coefficient−0.243−0.008−0.1970.064−0.061−0.1760.179
T-statistics−0.287−0.05−1.5710.535−0.489−1.4384.249
Number of banks5417248851739410725
% of total banks3.07%9.79%27.77%29.43%22.42%6.09%1.42%
EurozoneClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8Club 9Club 10
Coefficient−0.0550.8241.2061.3940.5911.003−0.0446.2290.9371.515
T-statistics−0.1848.77810.32210.8246.7810.835−1.0992.7639.9315.545
Number of banks156128266280404217942235
% of total banks9.90%8.13%16.89%17.78%25.65%13.78%5.97%0.13%1.46%0.32%
Eurozone commercialClub 1Club 2Club 3Club 4
Coefficient−0.3160.9240.242−0.135
T-statistics−1.1177.0622.836−0.401
Number of banks176344417
% of total banks64.94%12.55%16.24%6.27%
Eurozone cooperativeClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8
Coefficient0.1720.932−0.179−0.0440.4210.8564.939−2.444
T-statistics2.4428.219−1.338−0.6056.7486.4823.02− 79.202
Number of banks99732362901141523
% of total banks11.90%8.77%28.37%34.86%13.70%1.80%0.24%0.36%
Eurozone savingsClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8
Coefficient1.0160.03−0.214−0.0810.1010.0520.0140.476
T-statistics4.7040.123−1.616−0.5920.5390.3030.128.563
Number of banks8249013479283411
% of total banks1.96%5.88%22.06%32.84%19.36%6.86%8.33%2.70%
United StatesClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8Club 9Club 10Club 11Club 12
Coefficient−4.103−0.228−1.4150.418−0.055−0.091−0.0931.095−0.1280.7411.6−2.485
T-statistics−1.039−0.256−24.6991.619−0.416−0.241−1.1184.256−1.6194.7960.577−404.408
Number of banks633319621211531654444
% of total banks1.02%0.51%0.51%0.51%3.24%10.56%20.61%26.06%28.11%7.50%0.68%0.68%
United States commercialClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8
Coefficient−0.152−1.415−0.061−0.153−0.5740.0591.506−2.9200
T-statistics−0.16−24.699−0.295−1.235−1.5750.1654.655−689.512
Number of banks2324612066572
% of total banks0.54%0.81%6.49%16.49%55.68%17.57%1.89%0.54%
United States cooperativeClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8Club 9
Coefficient4.405−1.415−0.1140.0420.1960.6420.7880.493−2.62
T-statistics1.123−24.699−0.6210.5573.1638.4329.5022.037−155.574
Number of banks26911393826203
% of total banks1.30%3.90%5.84%7.14%25.32%24.68%16.88%12.99%1.95%
United States savingsClub 1Club 2Club 3Club 4Club 5Club 6Club 7Club 8Club 9Club 10
Coefficient−1.4150.013−0.0250.0460.1782.370.590.2551.574−6.599
T-statistics−24.6990.073−0.8080.3672.85714.19810.6512.75.065−2.794
Number of banks351371245543
% of total banks4.92%8.20%21.31%11.48%19.67%6.56%8.20%8.20%6.56%4.92%

Note(s): The results are generated using the methodology of Simar and Wilson (2007), more specifically the clustering algorithm

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