Table 2 Summary statistics.

Full panel

 Mean

5.091

0.746

9.224

3.366

0.382

0.667

1.340

87.061

58.367

 Standard deviation

6.648

0.293

1.728

5.441

0.240

0.195

1.719

50.450

23.886

 Mininum

0.019

0.026

0.567

−50.339

0.039

0.017

−18.530

11.093

4.017

 Maximum

62.259

0.987

13.396

86.827

0.975

0.962

21.260

468.568

100.00

 Observations

4140

4140

4140

4140

4140

4140

4140

4140

4140

HIC

 Mean

8.614

0.796

9.494

2.563

0.486

0.794

1.187

100.09

73.586

 Standard deviation

8.431

0.319

1.767

4.400

0.234

0.170

1.743

54.679

20.674

 Mininum

0.136

0.045

3.180

−23.508

0.026

0.110

−11.99

38.680

14.303

 Maximum

11.259

0.847

13.396

33.629

0.975

0.962

21.260

408.362

69.853

 Observations

1587

1587

1587

1587

1587

1587

1587

1587

1587

UMIC

Mean

3.943

0.778

3.729

9.398

0.213

0.970

1.093

78.033

61.356

Standard deviation

3.443

0.327

1.590

6.424

0.409

0.168

1.521

35.390

9.709

Mininum

5.067

0.347

1.664

17.099

0.110

0.015

−9.061

14.382

14.317

Maximum

18.437

0.794

12.908

63.480

0.739

0.805

12.00

236.00

92.17

Observations

1059

1059

1059

1059

1059

1059

1059

1059

1059

LMIC

 Mean

2.482

0.726

9.058

3.885

0.332

0.564

1.709

89.779

46.128

 Standard deviation

0.135

0.258

1.620

0.231

0.227

0.127

1.925

60.846

16.337

 Mininum

0.093

0.244

4.180

−29.100

0.019

0.189

−4.950

22.619

13.379

 Maximum

31.105

0.886

11.983

21.452

0.917

0.786

18.910

468.568

78.380

 Observations

851

851

851

851

851

851

851

851

851

LIC

 Mean

1.721

0.651

8.470

4.031

0.292

0.437

1.616

66.196

32.077

 Standard deviation

3.745

0.290

1.787

0.974

0.240

0.124

1.625

32.517

12.279

 Mininum

0.019

0.022

4.596

−50.339

0.030

0.019

−18.53

1.862

8.246

 Maximum

21.996

0.807

11.431

86.827

0.910

0.802

9.900

290.499

63.852

 Observations

643

643

643

643

643

643

643

643

643