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Financial Innovation

Table 3 Robust least square estimates

From: Financial development during COVID-19 pandemic: the role of coronavirus testing and functional labs

Dependent variable: ln(M2)

Variable

Coefficient

SE

z-Statistic

Prob

ln(CASES)

− 0.390340

0.145110

− 2.689966

0.0071

ln(CRITICAL)

0.007461

0.045988

0.162243

0.8711

ln(DEATHS)

− 0.082494

0.077710

− 1.061568

0.2884

ln(RECOVERED)

0.358547

0.127427

2.813745

0.0049

ln(TEST)

0.232845

0.055028

4.231390

0.0000

C

1.958477

0.579399

3.380188

0.0007

Robust statistics

    

 R2

0.166807

Adjusted R2

0.103687

 

 Scale

0.484890

Deviance

0.235119

 

 Rn-squared statistic

47.97638

Prob(Rn-squared stat.)

0.000000

 
  1. ‘ln’ shows natural logarithm, M2 shows broad money supply, CASES show COVID-19 registered cases, DEATHS show COVID-19 death cases, RECOVERED shows COVID-19 recovered cases, CRITICAL shows COVID-19 critical cases, and TEST show COVID-19 testing capacity
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