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Table 5 VDA estimates

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

Variance decomposition of LNM2:

Period

SE

ln(M2)

ln(CASES)

ln(CRITICAL)

ln(DEATHS)

ln(RECOVERED)

ln(TEST)

September 2020

0.730966

85.02804

1.490629

0.408863

7.449837

3.729274

1.893360

October 2020

0.780594

75.68494

1.884322

2.707693

11.23269

3.802952

4.687405

November 2020

0.812652

70.52407

2.732716

3.236178

12.98988

3.865297

6.651859

December 2020

0.847079

66.26541

3.269542

3.490804

14.53051

4.879474

7.564254

January 2021

0.882484

61.77686

3.680853

3.752984

16.50954

5.922606

8.357161

February 2021

0.916970

58.17375

4.034943

4.327654

17.95710

6.035329

9.471224

March 2021

0.947479

55.27853

4.469051

4.687984

19.05354

6.093993

10.41690

April 2021

0.977078

52.69369

4.812020

4.837623

20.09932

6.559189

10.99816

May 2021

1.007749

50.21954

5.057744

5.038375

21.14500

7.031139

11.50821

  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