Variables	(1)	(2)	(3)	(4)
Variables	$L O A N G_{i, t}$	$C R E D I T G_{i, t}$	$L O A N G_{i, t}$	$C R E D I T G_{i, t}$
$L O A N G_{i, t - 1} / C R E D I T G_{i, t - 1}$	0.375***	0.250***	0.377***	0.240***
$L O A N G_{i, t - 1} / C R E D I T G_{i, t - 1}$	(0.0638)	(0.0706)	(0.0647)	(0.0714)
$T I E R 1_{i, t - 1}$	−0.489*	−0.912***	−0.424	−0.729**
$T I E R 1_{i, t - 1}$	(0.284)	(0.298)	(0.305)	(0.325)
$L I Q_{i, t - 1}$	−0.127	−0.319***	−0.129	−0.306***
$L I Q_{i, t - 1}$	(0.105)	(0.116)	(0.105)	(0.118)
$T I E R 1_{i, t - 1} \times L I Q_{i, t - 1}$	1.537**	2.044***	1.456**	1.803***
$T I E R 1_{i, t - 1} \times L I Q_{i, t - 1}$	(0.676)	(0.507)	(0.685)	(0.539)
$A S S E T_{i, t - 1}$	−0.00701	−0.581	0.325	0.00959
$A S S E T_{i, t - 1}$	(0.240)	(0.380)	(0.384)	(0.488)
$L O S S R E_{i, t - 1}$	0.794	0.724	0.965*	1.213
$L O S S R E_{i, t - 1}$	(0.531)	(0.850)	(0.556)	(0.860)
$R O A A_{i, t - 1}$	1.431	2.555	1.578	2.546
$R O A A_{i, t - 1}$	(1.384)	(1.849)	(1.395)	(1.890)
$N O N L O A N_{i, t - 1}$	−0.999**	−0.859	−1.036**	−1.089
$N O N L O A N_{i, t - 1}$	(0.508)	(1.094)	(0.521)	(1.075)
$Δ G D P_{t}$	0.497	−0.0204	0.807*	0.668
$Δ G D P_{t}$	(0.429)	(0.630)	(0.478)	(0.701)
$Δ S H I_{t}$	1.514***	2.479***	1.445***	2.181***
$Δ S H I_{t}$	(0.448)	(0.752)	(0.468)	(0.805)
AR(2)	0.211	0.951	0.219	0.909
Sargan test	0.156	0.912	0.088	0.851