From: At what levels of financial development does information sharing matter?
Financial Size | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Contemporary | Non-Contemporary | |||||||||||
OLS | Q.10 | Q.25 | Q.50 | Q.75 | Q.90 | OLS | Q.10 | Q.25 | Q.50 | Q.75 | Q.90 | |
Constant | 78.027*** | 52.663*** | 74.301*** | 84.765*** | 96.725*** | 98.146*** | 76.926*** | 44.224*** | 71.822*** | 85.454*** | 96.035*** | 98.959*** |
(0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | |
PCB | 0.592*** | 1.196*** | 0.565** | 0.354* | 0.144 | 0.010 | 0.537*** | 1.182*** | 0.540 | 0.310 | 0.134 | 0.024 |
(0.000) | (0.003) | (0.046) | (0.082) | (0.288) | (0.879) | (0.000) | (0.000) | (0.132) | (0.152) | (0.345) | (0.705) | |
PCB × PCB | −0.005*** | −0.010* | −0.004 | −0.003 | −0.001 | 0.0005 | −0.004** | −0.0089** | −0.003 | −0.002 | −0.001 | 0.0001 |
(0.002) | (0.094) | (0.414) | (0.369) | (0.589) | (0.630) | (0.011) | (0.014) | (0.579) | (0.510) | (0.601) | (0.908) | |
GDP growth | −0.249 | −0.259 | −0.739*** | −0.220 | −0.216*** | 0.051 | −0.031 | 0.042 | −0.341 | 0.060 | −0.024 | 0.033 |
(0.337) | (0.606) | (0.009) | (0.167) | (0.004) | (0.323) | (0.908) | (0.948) | (0.300) | (0.706) | (0.763) | (0.482) | |
Inflation | −0.094*** | −0.011 | −0.084*** | −0.108*** | −0.070*** | −0.072*** | 0.0004*** | 0.001*** | 0.0006*** | 0.0003*** | −0.0001*** | −0.0003*** |
(0.008) | (0.718) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.006) | (0.000) | |
Public Invt. | 0.881*** | 0.924*** | 0.518** | 0.666*** | 0.370*** | 0.102 | 0.770*** | 0.760** | 0.444** | 0.540*** | 0.204** | 0.034 |
(0.000) | (0.004) | (0.018) | (0.000) | (0.000) | (0.187) | (0.000) | (0.015) | (0.019) | (0.000) | (0.014) | (0.642) | |
Foreign Aid | −0.736*** | −0.766*** | −1.103*** | −0.738*** | −0.834*** | −0.423*** | −0.666*** | −0.289* | −0.870*** | −0.780*** | −0.668*** | −0.364*** |
(0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.000) | (0.093) | (0.000) | (0.000) | (0.000) | (0.000) | |
Trade | 0.035 | 0.067 | 0.075** | 0.035* | 0.002 | 0.011 | 0.044 | 0.114** | 0.081** | 0.025 | 0.009 | 0.004 |
(0.245) | (0.282) | (0.017) | (0.081) | (0.851) | (0.261) | (0.152) | (0.028) | (0.029) | (0.224) | (0.486) | (0.648) | |
Net Effects | 0.570 | 1.153 | na | na | na | na | 0.520 | 1.148 | na | na | na | na |
Thresholds | −118.400 | −119.600 | na | na | na | na | −134.250 | −147.750 | na | na | na | na |
Pseudo R2/R2 | 0.289 | 0.175 | 0.230 | 0.224 | 0.209 | 0.123 | 0.249 | 0.163 | 0.207 | 0.204 | 0.176 | 0.102 |
Fisher | 61.62*** | 65.49*** | ||||||||||
Observations | 297 | 297 | 297 | 297 | 297 | 297 | 265 | 265 | 265 | 265 | 265 | 265 |