Figure 5
Five labeled variables appear on the left side as text: “Lagged Net N P As”, “Year”, “G D P Growth”, “Inflation”, and “Repo Rate”. Each variable is represented by a circular marker with a horizontal line extending on both sides, forming an interval bar with vertical caps at both ends. The horizontal axis displays numeric labels “negative 2.000”, “negative 1.000”, “0.000”, “1.000”, and “2.000”. A vertical dashed reference line appears at “0.000”. For “Lagged Net N P As”, the circular appears at “0.593”. The horizontal interval line extends leftward from “negative 0.350” to “0.350”. For “Year”, the circular marker appears at 0.469. The horizontal interval line extends from “negative 0.437” to “1.280”. For “G D P Growth”, the circular marker appears at “0.292”. The horizontal interval line extends from “negative 0.930” to “0.313”. For “Inflation”, the blue circular marker appears “0.063”. The horizontal interval line extends from “negative 0.230” to “0.350”. For “Repo Rate”, the blue circular marker appears at “0.245”. The horizontal interval line extends from “0.01” to “0.730”. Note: All numerical values are approximated.Coefficient estimates from panel GMM model with macroeconomic controls. Note: Figure generated by the author