Dependent variable: Lending interest rate

Average values of significant coefficients

Model 4: Small banks

Independent variable

Weighted Least Squares

Fixed effect

Random effect

No Lag

1 Lag

No Lag

1 Lag

No Lag

1 Lag

const

20.127**

30.094*

42.013**

−40.791

29.771*

9.514

il

0.099

0.138

0.154

id

0.019

0.581**

−0.233

−0.444

0.021

0.732

0.581

ras

0.123

−0.428

0.073

−1.228**

0.181

−0.716

0.228

opcr

0.315***

−0.360**

0.237*

−0.297

0.335***

−0.353

0.312

nplr

−0.081***

0.064

−0.137***

0.445*

−0.109**

0.184

0.070

siz

−0.931

−11.400***

0.067

2.384

−1.778

−9.747*

liqr

−0.035

−0.239***

−0.058

−0.211

−0.040

−0.248*

−0.239

provr

−0.032

−0.420**

−0.030

−2.020**

−0.024

−0.588*

−1.009

smr

−1.220***

1.273

−1.832*

1.704

−2.015***

3.018

−1.850

rgdp

0.541

−1.036*

−1.187

4.168

−0.175

−0.707

−1.036

infl

−0.164

0.099

−0.451*

0.718

−0.175

0.226

−0.451

itbl

0.100

−0.111

0.080

−0.118

0.090

0.111

HHI_AS

0.003

−0.009

0.005

0.020

0.007

−0.014

0.020

Adj R²

0.309

0.473

F-stastic

6.749***

5.628***

F(12, 39) = 2.764***

F(13, 37) = 6.082***

Null hypothesis

Groups common intercept: Welch F(39, 33.4) = 0.794; p-value = 0.756

Groups common intercept: Welch F(37, 24.8) = 1.125; p-value = 0.384

1) Breusch-Pagan test: Unit-specific error variance = 0; Chi-square (1) = 0.083, p-value 0.772. Hausman test: GLS estimates are consistent; Chi-square (12) = 26.392, p-value 0.0.009

1) Breusch-Pagan test: Unit-specific error variance = 0; Chi-square (1) = 1.383 p-value 0.239; Hausman test: GLS estimates are consistent; Chi-square (13) = 58.712, p-value 0.000