Year

2008-2014

2008-2011

2012-2014

Variable

Observation

Mean

Standard Deviation

Observation

Mean

Standard Deviation

Observation

Mean

Standard Deviation

LnRISK

131

4.04478

0.1459

78

4.0137

0.1372

53

4.0904

0.1477

FSN

131

0.3206

0.4685

78

0.3396

0.4645

53

0.3077

0.4781

LnFC

131

3.2151

0.4225

78

3.2349

0.4002

53

3.1859

0.4558

BS

131

13.1527

3.2260

78

13.2180

3.2976

53

13.0566

3.1465

LnIDP

120

3.2509

0.4583

71

3.1912

0.4731

49

3.3373

0.4258

LnEC

92

4.5182

0.5402

39

4.4189

0.5987

53

4.5792

0.4966

LnCSR

69

-0.2371

2.0977

25

0.2355

2.2440

44

-0.5057

1.9861

GDP

131

10.4581

1.9345

78

11.2051

1.8259

53

9.3585

1.5329