Table 2 Correlations among variables.
From: The monetary policy pass-through mechanism: Is the search-for-yield incentive at work?
Loans growth | LC growth (cat fat) | LC growth (cat nonfat) | lnZscore | SFYroa | SFYroe | Capital | Liquidity | Size | Refinancing rates | Rediscounting rates | Stock return | Inflation | Economic cycle | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Loans growth | 1.00 | |||||||||||||
LC growth (cat fat) | 0.24 | 1.00 | ||||||||||||
LC growth (cat nonfat) | 0.29 | 0.84 | 1.00 | |||||||||||
lnZscore | –0.02 | 0.01 | 0.05 | 1.00 | ||||||||||
SFYroa | 0.15 | –0.09 | –0.05 | 0.16 | 1.00 | |||||||||
SFYroe | 0.22 | –0.03 | 0.01 | 0.08 | 0.80 | 1.00 | ||||||||
Capital | 0.09 | –0.10 | –0.12 | –0.08 | –0.11 | –0.20 | 1.00 | |||||||
Liquidity | 0.32 | –0.01 | –0.04 | –0.08 | –0.04 | 0.05 | 0.29 | 1.00 | ||||||
Size | –0.27 | –0.03 | –0.02 | 0.10 | 0.18 | 0.11 | –0.72 | –0.43 | 1.00 | |||||
Refinancing rates | –0.09 | 0.01 | –0.01 | 0.15 | –0.12 | –0.12 | 0.24 | 0.35 | –0.22 | 1.00 | ||||
Rediscounting rates | –0.16 | 0.01 | –0.02 | 0.14 | –0.11 | –0.11 | 0.22 | 0.32 | –0.19 | 0.98 | 1.00 | |||
Stock return | 0.25 | –0.01 | 0.01 | 0.06 | 0.02 | 0.06 | –0.13 | –0.18 | 0.08 | –0.53 | –0.65 | 1.00 | ||
Inflation | –0.01 | 0.04 | 0.02 | –0.14 | –0.09 | –0.14 | 0.32 | 0.46 | –0.32 | 0.86 | 0.88 | –0.67 | 1.00 | |
Economic cycle | 0.05 | –0.17 | –0.14 | 0.22 | 0.41 | 0.40 | –0.25 | –0.08 | 0.21 | –0.38 | –0.34 | –0.04 | –0.37 | 1.00 |
