Table 4.
The influence of formal and informal financial participation on multidimensional relative poverty among rural households.
| Variant | Dependent variable: Multidimensional relative poverty index | ||
|---|---|---|---|
| Equation 1 | Equation 2 | Equation 3 | |
| Formal financial participation | −0.025*** (0.006) | −0.024*** (0.006) | |
| Informal financial participation | −0.014** (0.006) | −0.012** (0.006) | |
| Gender | −0.001 (0.006) | −0.002 (0.006) | −0.001 (0.006) |
| Age | −0.0100*** (0.002) | −0.0100*** (0.002) | −0.0100*** (0.002) |
| Age squared | 0.012*** (0.002) | 0.012*** (0.002) | 0.012*** (0.002) |
| Political affiliation | −0.002 (0.037) | −0.002 (0.037) | −0.001 (0.037) |
| Marriage | −0.011 (0.009) | −0.012 (0.009) | −0.011 (0.009) |
| Household Size | 0.020*** (0.002) | 0.020*** (0.002) | 0.020*** (0.002) |
| Per capita savings | −0.011*** (0.001) | −0.012*** (0.001) | −0.011*** (0.001) |
| Per capita expenditure on favors | 0.017*** (0.001) | 0.017*** (0.001) | 0.017*** (0.001) |
| Government subsidies | −0.050*** (0.006) | −0.050*** (0.006) | −0.050*** (0.006) |
| Social donation | −0.062*** (0.022) | −0.063*** (0.022) | −0.063*** (0.022) |
| Constant term | 0.568*** (0.043) | 0.568*** (0.043) | 0.570*** (0.043) |
| R 2 | 0.159 | 0.158 | 0.160 |
| N | 5,303 | 5,303 | 5,303 |
*** and ** indicate significant at the 1% and 5% levels, respectively.