Signal

Name of variable

Measure

Dependent variable

LERNER

Indicator for measuring banking competitiveness

P M C P

Independent variable

CAP

Equity Capital

BankingEquity Totalbankingassests

SIZE

Banking size

ln(Total banking asset)t

LLP

Credit loss provision ratio

baddebtprovisionexpense Totalbankingassest

INF

Inflation rate

CPI t CPI t 1 CPI t 1

GDP

GDP growth

GDP t GDP t 1 GDP t 1