Effect of interest rate on economic performance: evidence from Islamic and non-Islamic economies

Financial Innovation

Table 1 Descriptive statistics

	GDS	GCF	GDPdef	RIR	T	DCBS	GNE	PRR	GPCC
Non-Muslim countries
Mean	15.376	25.449	8.827	8.232	76.199	38.560	1.21E + 14	2.66E + 09	228
Median	18.059	24.168	6.553	6.135	68.627	28.822	3.78E + 12	9.15E + 08	109
Maximum	44.719	41.412	75.438	44.635	163.336	148.340	1.36E + 15	2.69E + 10	274
Minimum	−23.999	11.186	−3.005	−33.651	22.105	1.201	2.41E + 09	11470.900	1327
Std. Dev.	13.588	6.720	9.775	10.717	33.664	33.194	2.98E + 14	5.63E + 09	603
Skewness	−0.646	0.370	4.102	0.329	0.469	1.573	2.824	3.311	3.165
Kurtosis	3.404	2.619	26.155	6.402	2.194	5.089	10.121	13.066	11.957
No. of observations	153	153	153	153	153	153	153	153	153
Muslim countries
Mean	16.997	26.135	8.462	5.744	84.406	35.500	6.21E + 14	2.78E + 09	400
Median	14.263	26.144	6.764	5.747	74.744	27.687	5.68E + 11	1.21E + 09	18824.54
Maximum	61.142	46.876	34.340	48.055	203.854	119.982	9.60E + 15	1.92E + 10	324
Minimum	−34.607	9.341	−25.128	−19.926	34.396	1.551	4.39E + 09	31000.	418.7
Std. Dev.	24.741	7.445	9.164	10.406	35.008	28.400	1.85E+ 15	3.71E + 09	876
Skewness	0.016	0.143	0.117	0.980	1.151	1.217	3.228	2.039	2.142
Kurtosis	1.868	2.682	4.813	5.860	4.123	3.645	12.804	7.359	6.018
No. of observations	153	153	153	153	153	153	153	153	153

Note: GDPdef inflation, GDP deflator (annual %), GDS Gross domestic saving (% of GDP), GCF Gross capital formation (% of GDP), RIR real interest rate (%), T trade (% of GDP), DCBS domestic credit provided to the private sector by banks (% of GDP), GNE Gross national expenditure (current LCU), PRR personal remittances received (current US$), GPCC GDP per capita (constant LCU), LCU local currency unit