Demirgüç-Kunt, Asli; Huizinga, Harry - 2009
rate of inflation, the growth rate of GDP, and GDP per capita. Specifically, we control for
annual inflation rate since … inflation can affect bank performance and may influence bank decisions to
diversify into fee-income generating activities. We …. Regression 2 in addition
includes some macroeconomic controls. High inflation and high GDP growth are seen to be
associated …