U.S.-Korea Free Trade Agreement: Potential Economy-wide ... - USITC

Table H.1 Tariff equivalents in Korean banking services: Stage 1 results a
Dependent variable: Ln(Net interest margin) 1999 results 2005 results
Variable Coefficients T-statistics Coefficients T-statistics
Intercept 2.26 13.55 b
Ln (Noninterest operating expenses) 0.39 13.60 b
Ln (Capital adequacy ratio) 2.02 4.94 b
Ln (Liquidity ratio) 0.07 3.55 b
R-Squared 0.75 0.77
Adjusted R-squared 0.74 0.76
Number of observations 1,055 1,441
Source: Compiled by Commission staff.
a Estimates corrected for heteroskedasticity. Results for country dummy variables not reported.
b Significant at the 1 percent level.
Table H.2 Tariff equivalents in Korean banking services: Stage 2 results a
Dependent variable: pure spread 1999 results b 2005 results b
Variable Coefficients T-statistics Coefficients T-statistics
Intercept 2.433 12.39 c
H-8
3.041 11.77 c
Market share -0.075 -0.65 -0.231 -2.23 d
Interest variability 0.454 f
2.66 d
GATS score 0.803 3.20 c
Credit rating -0.008 f
Tax rate 0.141 3.15 c
GDP/Cap -0.012 f
0.003 3.40 c
0.665 3.19 c
-0.08 -0.009 -2.85 c
-2.57 d
0.425 1.72 e
-0.001 f
R-squared 0.56 0.65
Adjusted R-squared 0.49 0.61
Number of observations 42 57
Source: Compiled by Commission staff.
Note: Data not available for all countries in 1999.
2.07 11.59 b
0.39 16.12 b
1.48 3.86 b
0.06 3.27 b
-0.24
a Results corrected for heteroskedasticity.
b Coefficients for 1999 and 2005 not directly comparable because of differing countries in sample.
c Significant at the 1 percent level.
d Significant at the 5 percent level.
e Significant at the 10 percent level.
f Results multiplied by 1,000.