(1)

(2)

(3)

(4)

(5)

(6)

ROA

ROA

ROA

ROA

ROA

ROA

EPU

−0.0432^***

−0.0413^***

−0.0215

−0.0572^***

−0.0172

−0.0148

(0.01)

(0.01)

(0.02)

(0.01)

(0.01)

(0.09)

DPL

0.1157

−0.2043

−0.3902

0.1417

0.3017

0.4343^***

(0.09)

(0.26)

(0.30)

(0.11)

(0.30)

(0.14)

Size

0.0026

0.0851

−0.0822

0.1553

−0.2419

0.2079^*

(0.08)

(0.23)

(0.19)

(0.11)

(0.20)

(0.10)

Shbor10

−0.0020^*

−0.0137

−0.0071

−0.0023^*

−0.0009

−0.0227^***

(0.00)

(0.01)

(0.00)

(0.00)

(0.00)

(0.00)

Pergdp

−0.3721^***

−0.1916

0.0482

−0.6797^***

−0.0436

2.0856^*

(0.13)

(0.15)

(0.27)

(0.17)

(0.36)

(1.13)

M2

0.3425

−1.0647^***

−1.7782^**

0.4743

1.2724

71.8880

(0.53)

(0.24)

(0.67)

(0.75)

(1.36)

(48.81)

CPI

5.7923^***

4.5800^*

5.0193

9.3883^***

−1.9319

−133.1469

(1.59)

(1.81)

(3.70)

(2.11)

(4.12)

(109.20)

_cons

1.1146

1.1324

5.5675

−2.4402

5.9773

−11.1940

(2.19)

(6.24)

(6.08)

(2.83)

(5.19)

(6.36)

Fixed-Effect

Y

Y

Y

Y

Y

Y

N

1268

57

122

808

241

40

R²

0.2755

0.1814

0.2493

0.2293

0.0360

0.4417

F

33.70

-

9.73

29.38

7.29

-