Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches

Qamruzzaman, Md.; Jianguo, Wei

doi:10.1186/s40854-018-0103-3

Financial Innovation

Table 1 Summary of descriptive statistics of research variables

From: Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches

	Descriptive statistics					Correlation Matrix
	lnY	lnFI	lnTO	lnGCF	lnDCP		lnY	lnFI	lnTO	lnGCF	lnDCP
Country: Bangladesh
Mean	0.827	3.322	3.24	2.215	2.757	lnY	1
Median	1.108	3.26	3.206	2.18	2.864	lnFI	0.395	1
Maximum	2.046	4.166	3.873	4.992	3.782	lnTO	0.444	0.284	1
Minimum	−3.177	2.122	2.397	0.426	0.65	lnGCF	0.261	−0.349	−0.175	1
Std. Dev.	1.019	0.557	0.364	0.708	0.816	lnDCP	0.265	0.454	0.216	−0.031	1
Skewness	−1.972	−0.062	0.088	1.113	−0.83
Kurtosis	7.494	1.966	2.278	7.74	2.978
Observations	42	42	42	42	42
Country: India
Mean	1.314	3.821	3.046	2.031	3.282	lnY	1
Median	1.455	3.763	2.928	2.322	3.186	lnFI	0.372	1
Maximum	2.169	4.367	4.02	3.457	3.948	lnTO	0.317	0.235	1
Minimum	−0.429	3.11	2.366	−2.948	2.54	lnGCF	0.264	0.176	0.283	1
Std. Dev.	0.652	0.337	0.52	1.143	0.354	lnDCP	0.463	0.162	0.311	0.123	1
Skewness	−0.926	0.003	0.584	−2.512	0.475
Kurtosis	3.083	2.311	1.942	10.919	2.668
Observations	42	42	42	42	42
Country: Pakistan
Mean	0.503	3.79	3.515	1.519	3.16	lnY	1
Median	0.722	3.774	3.517	1.576	3.186	lnFI	−0.05	1
Maximum	1.9	4.075	3.661	2.919	3.394	lnTO	0.097	0.117	1
Minimum	−2.415	3.516	3.322	−1.389	2.77	lnGCF	0.168	−0.066	0.076	1
Std. Dev.	0.935	0.127	0.083	0.803	0.149	lnDCP	0.203	0.049	0.271	0.144	1
Skewness	−0.959	0.232	−0.456	−1.191	− 0.961
Kurtosis	3.931	2.467	2.865	6.04	3.748
Observations	42	42	42	42	42
Country: Sr Lanka
Mean	1.232	3.505	4.218	2.109	3.103	lnY	1
Median	1.353	3.484	4.228	2.178	3.119	lnFI	0.272	1
Maximum	2.118	3.85	4.484	4.411	3.571	lnTO	0.133	0.062	1
Minimum	−2.026	2.887	3.836	−0.691	2.177	lnGCF	0.351	−0.197	− 0.016	1
Std. Dev.	0.714	0.215	0.166	1.019	0.402	lnDCP	0.214	0.751	−0.083	−0.054	1
Skewness	−2.619	−0.975	− 0.619	− 0.457	−0.799
Kurtosis	12.058	3.955	2.555	3.584	2.686
Observations	42	42	42	42	42

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