Sensitivity analysis: Logit model
| Variable | Baseline | Interest rate liberalisation | Financial development |
|---|---|---|---|
| INF | 0.03 (2.58)*** | 0.04 (2.59)*** | |
| GDP | 0.02 (0.37) | 0.02 (0.39) | −0.0001 (−1.40) |
| CA | 0.01 (0.22) | −0.01 (0.68) | −0.001 (−0.05) |
| CHINN | −0.40 (−2.25)** | −0.38 (−2.22)** | −0.14 (−0.68) |
| RINT | −0.02 (−0.92) | ||
| BC | 0.02 (2.76)*** | ||
| constant | −2.57 (−6.90)*** | −2.14 (−5.85)*** | −3.67 (−5.56)*** |
| pseudo R-squared | 0.07 | 0.04 | 0.12 |
| chi-squared | 15.39*** | 7.57 | 24.03*** |
| Variable | Baseline | Interest rate liberalisation | Financial development |
|---|---|---|---|
| INF | 0.03 (2.58) | 0.04 (2.59) | |
| GDP | 0.02 (0.37) | 0.02 (0.39) | −0.0001 (−1.40) |
| CA | 0.01 (0.22) | −0.01 (0.68) | −0.001 (−0.05) |
| CHINN | −0.40 (−2.25) | −0.38 (−2.22) | −0.14 (−0.68) |
| RINT | −0.02 (−0.92) | ||
| BC | 0.02 (2.76) | ||
| constant | −2.57 (−6.90) | −2.14 (−5.85) | −3.67 (−5.56) |
| pseudo R-squared | 0.07 | 0.04 | 0.12 |
| chi-squared | 15.39 | 7.57 | 24.03 |
Notes: (***) and (**) indicate significance at 1% and 5% levels respectively