Credit information sharing, nonperforming loans and economic growth: A cross-country analysis

Figures & data

Table 1. Descriptive statistics of variables

Variable	Obs	Mean	Std. Dev.	Min	Max
NPL	748	5.663	6.717	0.146	54.541
PCB	748	45.487	36.808	0.000	100.000
PCR	748	15.641	23.701	0.000	100.000
GDP	748	2.984	3.643	−14.814	25.163
HHC	748	59.736	13.386	12.775	94.232
EFF	748	3.052	2.434	0.109	28.011
PROF	748	1.280	2.068	−24.117	15.054
CAP	748	9.254	3.340	0.000	23.011
GDP	748	2.984	3.643	−14.814	25.163
POP	748	0.991	1.094	−2.258	6.028
FIXED	748	23.914	6.190	10.217	50.807
GOV	748	16.209	4.743	5.116	30.004

Source: Calculation from dataset.

Table 2. Correlation matrix between variables

	GDP	NPL	PCB	PCR	PROF	HHC	CAP	EFF	GOV	FIXED	POP
GDP	1.000
NPL	−0.069	1.000
PCB	−0.163	−0.144	1.000
PCR	−0.082	−0.069	−0.081	1.000
PROF	0.255	−0.246	−0.153	−0.088	1.000
HHC	−0.020	0.256	−0.109	−0.063	0.112	1.000
CAP	0.181	0.123	−0.098	−0.034	0.281	0.258	1.000
EFF	0.071	0.144	−0.109	−0.054	0.188	0.308	0.232	1.000
GOV	−0.309	−0.111	0.249	0.010	−0.164	−0.327	−0.264	−0.187	1.000
FIXED	0.260	−0.209	−0.183	0.034	0.112	−0.308	0.087	−0.090	−0.058	1.000
POP	0.171	−0.054	−0.275	−0.134	0.183	−0.122	0.060	0.001	−0.233	0.034	1.000

Source: Author’s calculation.

Table 3. Total coverage of information sharing, nonperforming loan rate and economic growth

	Dependent variable
	NPL		GDP
	Coefficients	Standard errors	Coefficients	Standard errors
NPL			−0.166***	(0.062)
TIS	−0.029***	(0.006)	0.001	(0.004)
GDP	−0.589***	(0.156)	-
HHC	0.054***	(0.016)	-
EFF	0.086	(0.087)	-
PROF	−1.018***	(0.135)
CAP	0.304***	(0.069)	-
POP	-		0.498***	(0.137)
FIXED	-		0.119***	(0.023)
GOV	-		−0.238***	(0.025)
CONS	4.180*	(1.104)	4.484	(1.249)
R^2	0.129		0.210
No of obs	748		748

Notes: *, **, and *** show 10%, 5%, and 1% level of significance. Standard errors are those in parentheses.

Table 4. Information sharing in terms of PCB and PCR, nonperforming loans and economic growth

	Dependent variable
	NPL			GDP
	Coefficients		Standard errors	Coefficients	Standard errors
NPL				−0.165***	(0.062)
PCB		−0.027 ***	(0.007)	0.001	(0.004)
PCR		−0.036***	(0.010)	−0.001	(0.181)
GDP		−0.576***	(0.155)	-
HHC		0.055***	(0.016)	-
EFF		0.084	(0.087)	-
PROF		−1.024***	(0.134)
CAP		0.306***	(0.070)	-
POP		-		0.478***	(0.139)
FIXED		-		0.121***	(0.023)
GOV		-		−0.242***	(0.025)
CONS		4.086***	(1.104)	4.540	(1.249)
R^2	0.132			0.215
No of obs	748			748

Notes: *, **, and *** show 10%, 5%, and 1% level of significance. Standard errors are those in parentheses.

Table 5. Robustness test (1): alternative dependent variable

	LLP			GDP
	Coefficients		Standard errors	Coefficients	Standard errors
LLP				−0.325**	(0.125)
TIS		−0.013***	(0.003)	−0.001	(0.004)
GDP		−0.135	(0.082)	-
HHC		0.042***	(0.090)	-
EFF		0.128**	(0.051)	-
PROF		−0.629***	(0.082)
CAP		0.161***	(0.039)	-
POP		-		0.415***	(0.140)
FIXED		-		0.115***	(0.024)
GOV		-		−0.292***	(0.030)
CONSTANT		1.161*	(0.628)	5.726	(1.436)
R^2	0.146			0.210
No of obs	718			718

Notes: *, **, and *** show 10%, 5%, and 1% level of significance. Standard errors are those in parentheses.

Table 6. Robustness check (2): alternative determinants

		Dependent variable
	NPL				GDP
	(1)		(2)		(1)		(2)
NPL					−0.189** (0.063)		−0.131** (0.062)
TIS	−0.029*** (0.006)		−0.028*** (0.006)		−0.002 (0.004)		0.000 (0.004)
GDP	−0.626*** (0.156)		−0.641*** (0.164)		-	-	-
HHC	0.051*** (0.016)		-		-	-	-
FINANCIAL SECTOR CREDIT			−0.000 (0.005)
EFF	0.083 (0.086)		0.154* (0.089)		-	-	-
PROF	−0.981*** (0.135)		−0.966*** (0.130)
CAP	0.292*** (0.069)		0.352*** (0.070)		-	-	-
POP	-				0.471*** (0.139)		0.527*** (0.133)
FIXED	-				0.114*** (0.023)		0.129*** (0.022)
GOV	-				−0.233*** (0.025)		−0.219*** (0.024)
TRADE					0.001 (0.001)		0.002 (0.002)
CONS	4.584*** (1.097)		6.779*** (1.110)		4.668*** (1.315)		3.527*** (1.215)
R^2	0.120		0.104		0.191		0.223
No of obs	748		734		748		734

Notes: *, **, and *** show 10%, 5%, and 1% level of significance. Standard errors are those in parentheses.