Table 6.

Change in the mix of groups.

Groups partitioned by:		chit value						monthly contribution
Chit value/contribution:		Low		Medium		High		Low		Medium		High
Year:		1993	1994	1993	1994	1993	1994	1993	1994	1993	1994	1993	1994
		(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)
A. Subscriber participation
Private subscribers		17,688	11,331	12,133	10,772	6,637	5,108	16,468	9,848	12,113	10,700	7,877	6,663
Corporate subscribers		3,713	3,304	2,167	2,639	929	1,643	3,443	2,967	2,217	2,621	1,149	1,998
B. Proportion of short duration groups
		0.217	0.318	0.573	0.656	0.217	0.359	0.082	0.134	0.612	0.672	0.419	0.552
		(0.017)	(0.023)	(0.025)	(0.024)	(0.033)	(0.037)	(0.012)	(0.019)	(0.024)	(0.023)	(0.034)	(0.032)
C. Distribution of group durations
Duration:
20 months		14.65	21.26	2.05	4.69	6.83	4.79	–	–	21.58	25.06	7.37	6.69
25 months	SHORT	7.07	10.51	8.70	8.85	11.80	22.75	8.20	13.35	–	–	24.42	30.13
30 months		–	–	46.55	52.08	3.11	8.38	–	–	39.57	42.18	10.14	18.41
40 months		78.11	67.99	27.11	22.40	16.77	20.96	90.63	86.35	25.42	21.34	12.44	14.64
50 months	LONG	0.17	0.23	1.79	–	44.10	32.34	1.17	0.30	0.48	–	32.72	22.59
60 months		–	–	13.81	11.98	11.18	10.18	–	–	12.95	11.41	8.29	7.11
100 months		–	–	–	–	6.21	0.60	–	–	–	–	4.61	0.42
Total (%)		100	100	100	100	100	100	100	100	100	100	100	100

Note: Short duration groups run for less than 40 months.Chit value: Low if chit value = 10,000; Medium if chit value 10,000–50,000; High if chit value ≥ 50,000.Contribution: Low if contribution < 500/month; Medium if contribution 500–1,000; High if contribution ≥ 1,000.

Proportion of short duration groups in 1994 is significantly higher at the 5% level than in 1993, within each category in Pane (B) except for columns (9)–(10).Standard errors in parentheses.