Panel A: Dependant Variable: Asset

Variable

Coef.

Robust Std. Err

z

p > z

[95%Conf. Interval]

inln

0.773034

0.1401277

5.52

0.003

0.4983888

1.047679

culn

1.049104

0.1205646

8.70

0.000

0.8128016

1.285406

idbt

0.4283665

0.108414

3.95

0.000

0.2158791

0.640854

cdbt

0.3569711

0.0917278

3.89

0.000

0.1771879

0.5367543

risk1

62400.02

48232.59

1.29

0.196

−32134.11

156934.2

rgdp_gr

−252.4336

612.8543

−0.41

0.680

−1453.606

948.7389

sr

732.4181

600.2713

1.22

0.222

−444.0921

1908.928

sbgdp

−124.4374

103.1939

−1.21

0.228

−326.6937

77.81888

_cons

−1761.242

4200.777

−0.42

0.675

−9994.613

6472.129