1. Note: Ranges refer to coefficients from a total of 98 regressions in which 98 potential covariates (see list of variables below) were "rotated through" the baseline specification presented in columns 1 and 3. These included variables from three groups: (i) macroeconomic indicators were taken from the IMF's International Financial Statistics and World Economic Outlook (current account, GDP per capita PPP-adjusted, openness, fiscal sector measures, inflation, domestic and external total and private debt); the World Bank Development Indicators 2008 (reserves to GDP, external debt and (in month of imports), M2 or M3 in per cent of GDP and reserves, real interest rates;Country credit rating Source: EBRD staff analysis based on data from the sources listed below
2. Location Decisions Of Foreign Banks And Competitive Advantage