Table 2 Correlation matrix Variables L R...

Table 2

Correlation matrix

Variables	$L$	$R_{E B}$	$R_{B C}$	$R_{A R}$	$R_{C R}$	$S$	$Y$	$π$	$C$
$L$	1.00
$R_{E B}$	−0.34**	1.00
$R_{B C}$	−0.06	−0.17**	1.00
$R_{A R}$	−0.08	0.03	0.05	1.00
$R_{C R}$	0.06	0.18**	0.07	0.19**	1.00
$S$	−0.09	0.04	0.04	0.26**	0.28**	1.00
$Y$	0.25**	0.21**	−0.21**	−0.14**	0.15	0.25**	1.00
$π$	0.08	0.09	0.31**	−0.29**	0.03	−0.10	0.10	1.00
$C$	0.05	−0.09	0.06	0.06	0.07	−0.02	0.21**	0.11	1.00

Note(s): $L =$ bank credit/GDP; $R_{E B} =$ entry barrier index; $R_{B C} =$ mixing of banking and commerce restriction index; $R_{A R} =$ activity restriction index; $R_{C R} =$ capital regulation index; $S =$ supervisory power index; $Y =$ real GDP; $π =$ inflation; $C =$ current account/GDP; ** indicates statistical significance at the 5% level or better

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