Table A3

Data sources and definitions of variables

VariablesSourcesDefinitions
Bank lending variable
Bank credit/GDPWorld Bank Financial Development and Structure Dataset; Global Financial Development Database; International Monetary Fund International Financial StatisticsCredit to the private sector from banks as a ratio of GDP
Bank regulatory and supervisory indices
Entry barrierWorld Bank's Bank Regulation and Supervision SurveysMeasures the degree of restrictions on bank licensing and foreign ownership
Mixing of banking and commerce restrictionWorld Bank's Bank Regulation and Supervision SurveysMeasures the extent to which banks, nonfinancial firms, and non-bank financial firms can own and control each other
Activity restrictionWorld Bank's Bank Regulation and Supervision SurveysMeasures the degree of restrictions on engagement in securities, insurance and real estate activities by banks
Capital regulationWorld Bank's Bank Regulation and Supervision SurveysMeasures the stringency of bank regulatory requirements regarding capital
Supervisory powerWorld Bank's Bank Regulation and Supervision SurveysMeasures the degree to which bank supervisory authorities have the power to prevent, correct and resolve problem banks
Macroeconomic variables
Real GDPInternational Monetary Fund World Economic Outlook/World Bank World Development IndicatorsReal gross domestic product (in purchasing power parity, 2011 international dollar)
InflationInternational Monetary Fund World Economic Outlook/World Bank World Development IndicatorsConsumer price index
Current account/GDPInternational Monetary Fund World Economic Outlook/World Bank World Development IndicatorsCurrent account balance as a ratio of GDP

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