Table 1

Descriptive statistics

Advanced economies panelEmerging economies panel
GDPCPIHPInterestFSIGDPCPIHPInterestFSI
Mean1.401.450.280.980.004.184.480.895.890.00
Median1.781.480.400.36−0.434.063.890.794.58−0.27
Minimum−7.17−1.62−6.75−1.87−4.46−9.4−3.03−26.120.43−4.65
Maximum5.935.305.615.269.8915.0016.213.2219.678.91
Std. dev.2.081.191.731.512.393.682.863.153.562.31
Skewness−1.410.12−0.521.060.8−0.121.42−0.991.290.76
Kurtosis2.550.061.560.140.650.983.0715.031.280.71
Sample size406406406406406406406406406406
Pairwise correlation coefficients
GDPCPIHPInterestFSIGDPCPIHPInterestFSI
GDP1    1    
CPI0.1760***1   −0.300***1   
HP0.3917***−0.185***1  0.2583***−0.135***1  
Interest0.1628***0.5850***−0.029*1 −0.298***0.6865***−0.010*1 
FSI−0.481***0.0745**−0.359***0.1023**1−0.165***0.2488***−0.127***0.2073***1

Note(s): Correlation coefficients were calculated using Pearson's correlation test. ***, ** and * denote the level of significance at 1, 5 and 10%, respectively

Source(s): Own elaboration

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