	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)
	Full sample	Full sample	Post Crisis	Post Crisis	G10	G10	G10 Post Crisis	G10 Post Crisis	EM	EM	EM Post Crisis	EM Post Crisis	EM Post Crisis
VARIABLES	4/2002-12/2019	4/2002-12/2019	1/2010-12/2019	1/2010-12/2019	4/2002-12/2019	4/2002-12/2019	1/2010-12/2019	1/2010-12/2019	4/2002-12/2019	4/2002-12/2019	1/2010-12/2019	1/2010-12/2019	1/2010-12/2019
													
dLibOis	-1.21**	-1.20**	-0.41	-0.32	-1.13	-0.14	0.24	3.20*	-1.33**	-1.44**	-0.82	-1.85	-1.00
	(0.48)	(0.49)	(1.18)	(1.40)	(0.66)	(0.57)	(1.37)	(1.51)	(0.50)	(0.58)	(1.31)	(1.20)	(1.46)
c.dLibOis#cL.npdebt_govt	-2.83**	-3.09*	3.09	3.98	-5.05	-2.02	7.38	9.45	-2.27	-3.85*	-4.40	-9.86	
	(1.30)	(1.55)	(4.41)	(4.44)	(4.37)	(2.27)	(6.46)	(7.02)	(1.34)	(2.10)	(5.80)	(6.01)	
c.dLibOis#cL.npdebt_osect		1.37**		8.71*		-0.21		2.56		-1.56		10.23	
		(0.55)		(4.30)		(0.57)		(6.96)		(9.26)		(13.15)	
c.dLibOis#cL.npdebt_bank		2.46**		11.45**		6.16***		18.48***		13.55		-0.56	7.74
		(1.06)		(4.47)		(1.29)		(4.54)		(8.58)		(34.96)	(30.93)
c.dLibOis#cL.nother_osect		3.53		19.05		-11.31*		50.18		3.29		-7.09	
		(2.78)		(16.35)		(5.48)		(55.26)		(4.42)		(13.28)	
c.dLibOis#cL.nother_bank		5.21		29.68***		-0.48		30.04		3.15		58.17**	49.19**
		(3.14)		(10.40)		(4.41)		(21.00)		(4.85)		(21.17)	(17.99)
L.npdebt_govt	3.96**	3.88**	2.80	2.75	1.75	1.31	2.74	2.51	3.17	3.60*	2.87	2.79	
	(1.67)	(1.66)	(2.79)	(2.70)	(3.17)	(3.02)	(1.70)	(1.86)	(2.05)	(1.93)	(3.76)	(3.70)	
L.npdebt_osect		-0.36		2.97		0.43		3.30		-1.79		-6.00	
		(1.62)		(2.11)		(2.53)		(2.77)		(3.47)		(5.53)	
L.npdebt_bank		3.48**		1.32		0.14		-9.58		10.69		8.02	5.12
		(1.55)		(3.73)		(1.97)		(6.92)		(10.80)		(17.37)	(18.07)
L.nother_osect		0.06		0.77		3.72		-5.59		-0.59		-0.09	
		(1.32)		(2.57)		(3.74)		(5.01)		(1.41)		(3.49)	
L.nother_bank		0.73		-0.32		-2.73		-8.52		-1.12		-5.64	-5.77
		(1.18)		(2.66)		(1.50)		(4.85)		(2.94)		(4.95)	(4.14)
c.dLibOis#cL.npdebt_priv	1.57***		8.87**		1.43**		10.78*		4.42		5.02		
	(0.49)		(3.46)		(0.55)		(5.41)		(7.11)		(14.65)		
c.dLibOis#cL.nother_priv	4.47**		25.90**		1.33		31.20		3.91		28.31**		
	(1.95)		(9.20)		(3.44)		(16.64)		(2.85)		(12.18)		
L.npdebt_priv	1.66**		2.41		0.38		-0.42		1.05		-4.61		
	(0.73)		(1.76)		(1.24)		(1.70)		(3.32)		(5.74)		
L.nother_priv	0.10		0.04		-1.83**		-4.88*		-0.30		-2.97		
	(0.57)		(1.50)		(0.57)		(2.11)		(1.59)		(2.27)		
													
Observations	3,874	3,874	2,182	2,182	978	978	569	569	2,896	2,896	1,613	1,613	1,613
R-squared	0.15	0.15	0.09	0.09	0.16	0.17	0.06	0.08	0.15	0.15	0.11	0.11	0.11
rss	36610	36574	18736	18726	7372	7296	3869	3809	28934	28881	14708	14631	14671
df_m	19	23	15	19	19	23	15	19	19	23	15	19	13
Robust standard errors in parentheses													
*** p<0.01, ** p<0.05, * p<0.1													
