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Location Decisions of Foreign Banks and Institutional Competitive Advantage - page 31 / 33

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Mean

Std. Dev.

Obs.

Mean

Std. Dev.

Obs.

Foreign presence

0.05

0.36

9,605

0.09

0.46

9,605

Institutional competitive advantage

1.05

0.61

9,605

1.04

0.62

9,605

Institutions host

0.06

0.86

9,605

0.00

0.88

9,605

Entry restrictions

0.44

0.50

9,605

0.13

0.33

9,605

Border

0.03

0.16

9,605

0.03

0.16

9,605

Colonial Links

0.06

0.23

9,605

0.06

0.23

9,605

Distance

6,359

4,013

9,605

6,359

4,013

9,605

Trade

534,302

4,631,598

9,605

1,269,198

9,202,733

9,605

GDP host

136,177

334,193

9,605

222,133

492,088

9,605

GDP source

330,864

1,002,171

9,605

510,205

1,485,114

9,605

GDP per capita host

6,990

7,003

9,605

10,854

10,552

9,605

GDP per capita source

10,303

8,345

9,605

15,998

12,790

9,605

Table 2 - Summary statistics

This table shows summary statistics of our dependent variable foreign presence and of those variables we use or have typically been used to explain foreign bank entry, both for the years 1995 and 2006. In the top panel, statistics are based on all observations using a balanced sample, while in the bottom panel the statistics reflect only observations when there are banks from a specific source country present in the specific host country. Note we have excluded from all our samples all host countries without any foreign banks present between 1995 and 2006 and all source countries that did not invest in any other source country. Furthermore, all host and source countries that are offshore centers were excluded. All variables are in levels and distance is measured in kilometers. For definition of the variables see the Appendix

Mean

Std. Dev.

Obs.

Mean

Std. Dev.

Obs.

Foreign presence

1.61

1.21

314

1.60

1.24

498

Institutional competitive advantage

1.29

0.76

314

1.19

0.72

498

Institutions host

0.13

0.79

314

-0.01

0.82

498

Entry restrictions

0.47

0.50

314

0.12

0.33

498

Border

0.17

0.37

314

0.17

0.37

498

Colonial Links

0.15

0.36

314

0.19

0.39

498

Distance

4,488

3,652

314

3,937

3,620

498

Trade

4,074,157

18,000,000

314

7,871,936 29,900,000

498

GDP host

167,336

304,309

314

233,523

440,998

495

GDP source

1,616,507

2,381,012

314

2,163,259

3,552,207

195

GDP per capita host

6,960

6,162

314

10,484

9,467

478

GDP per capita source

18,111

8,210

308

26,281

12,381

479

All observations 1995

2006

Investment only 1995

2006

30

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