Table 3 Linearity test results Model...

Table 3

Linearity test results

Model	Fisher (F-statistic)
$L = f (R_{E B}, S, Y, π, C)$	75.71***
$L = f (R_{B C}, S, Y, π, C)$	−5.26
$L = f (R_{A R}, S, Y, π, C)$	−57.92
$L = f (R_{C R}, S, Y, π, C)$	44.24***

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; ***, ** and * indicate statistical significance at the 1, 5 and 10% levels, respectively

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