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Table 9 Non-performing loans regressions controlling for initial judicial efficacy of the province in the expansion period

From: Credit, crisis and contract enforcement: evidence from the Spanish loan market

Variables (1) (2)
NPL ratio NPL ratio
Average clearance declarations * crisis −0.156**
(0.0729)
−0.156***
(0.0403)
Crisis 0.144***
(0.0216)
 
Constant 0.0114***
(0.00301)
0.0151***
(0.00440)
Province fixed effects Yes Yes
Time dummies No Yes
Observations 600 600
R-squared 0.453 0.836
Number of provinces 50 50