Table 2: Summary statistics for the Shanghai index and survey data.
(a) All variables in levels

VariablesNumber of observationsMeanStandard deviationMinimumMaximum

Banking Business Index2867.391.8863.8070.70
Bankers’ Confidence2853.63 18.5021.0082.40
Current Price Satisfaction2835.979.4213.8051.45
Future Price Expectation2867.527.2253.0581.70
Shanghai A-Share Index28 2559.36 1220.96 1135.12 5827.66

(b) All variables converted to log growth rates

VariableNumber of observationsMeanStandard deviationMinimumMaximum

Banking Business Index270.0020.019−0.0450.037
Bankers’ Confidence27 0.00030.276−0.5580.446
Current Price Satisfaction27 −0.0490.136−0.4620.146
Future Price Expectation270.0100.094−0.2330.181
Shanghai A-Share Index270.0180.204−0.4160.425