Table 1 Summary statistics and correlation matrix
From: Interest rate liberalization and pass-through of monetary policy rate to bank lending rates in China
Panel A: Summary statistics | ||||||
Average | Median | S.D. | Min | Max | Obs. | |
Level | ||||||
Policy rate | 3.45 | 2.25 | 2.41 | 1.50 | 10.98 | 276 |
Lending rate | 6.47 | 5.85 | 1.98 | 4.35 | 12.24 | 276 |
First-difference | ||||||
∆ Policy rate | −0.03 | 0 | 0.24 | −1.80 | 0.27 | 275 |
∆ Lending rate | −0.03 | 0 | 0.19 | −1.44 | 0.54 | 275 |
Panel B: Correlation matrix for the level of the interest rate series | ||||||
Policy rate | Lending rate | |||||
Policy rate | 1.00 | 0.98 | ||||
Lending rate | 0.98 | 1.00 | ||||
Panel C: Correlation matrix for first-difference of the interest rate series | ||||||
Policy rate | Lending rate | |||||
∆Policy rate | 1.00 | 0.24 | ||||
∆Lending rate | 0.24 | 1.00 | ||||