NPL

PRICE

RGDP

CPI

RATE

NPL (-1)

0.965333

0.152769

−0.097282

0.005569

−1.320582

(0.07524)

(0.06836)

(0.05057)

(0.00856)

(0.34249)

[12.8293]

[2.23477]

[−1.92370]

[0.65025]

[−3.85582]

PRICE (-1)

−0.287790

0.451297

0.196876

0.035752

4.008670

(0.18405)

(0.16721)

(0.12370)

(0.02095)

(0.83773)

[−1.56367]

[2.69900]

[1.59162]

[1.70675]

[4.78514]

RGDP (-1)

−0.524462

−0.204314

0.705167

0.103745

3.132000

(0.23263)

(0.21135)

(0.15635)

(0.02648)

(1.05888)

[−2.25445]

[−0.96671]

[4.51021]

[3.91821]

[2.95784]

CPI (-1)

0.561995

−0.675432

1.891771

0.218369

−6.969223

(1.66032)

(1.50841)

(1.11587)

(0.18897)

(7.55728)

[0.33849]

[−0.44778]

[1.69533]

[1.15557]

[−0.92219]

RATE (-1)

0.018897

0.025023

−0.016574

−0.001379

−0.140298

(0.03295)

(0.02994)

(0.02215)

(0.00375)

(0.14999)

[0.57346]

[0.83581]

[−0.74837]

[−0.36765]

[−0.93536]

C

0.996155

8.317043

−9.867460

3.093306

−7.842460

(7.40134)

(6.72416)

(4.97431)

(0.84239)

(33.6888)

[0.13459]

[1.23689]

[−1.98369]

[3.67204]

[−0.23279]