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. Author manuscript; available in PMC: 2020 Jun 1.
Published in final edited form as: J Dev Econ. 2019 Mar 8;139:135–156. doi: 10.1016/j.jdeveco.2019.03.001

Table A9.

Tuticuenta Account Balances After Twelve-Month Text-Message Campaign – Balances without normalizing at the individual level to month zero

(1) (2) (3) (4) (5)
Equation Outcome Control Mean Financial Education Monthly Reminder Semimonthly Reminder Equation-level treatment joint significance tests (Randomization p-value)
Net Balance After 13 Months 69.7 2.10 (10.37) 21.90 (18.13) 24.77* (13.86) 0.237
Net Balance After 14 Months 67.9 7.19 (13.00) 7.32 (9.98) 24.25* (14.06) 0.281
Net Balance After 15 Months 66.4 −5.56 (9.22) 1.83 (9.25) 29.35** (14.62) 0.006
Net Balance After 16 Months 67.4 −0.62 (10.73) 2.44 (10.44) 33.69** (15.66) 0.010
Net Balance After 17 Months 69.1 1.34 (11.54) 1.64 (10.44) 26.31* (15.20) 0.103
Net Balance After 18 Months 65.8 2.76 (10.77) 5.73 (10.66) 29.11* (15.00) 0.088
Net Balance After 19 Months 64.3 3.86 (10.38) 7.75 (10.55) 30.47* (15.81) 0.090
Net Balance After 20 Months 63.0 4.00 (10.16) 15.11 (12.07) 32.92* (16.95) 0.104
Omnibus Test of Treatment Joint Significance
Randomization p-value 0.574 0.351 0.028 0.110
Observations

Notes: Monthly Tuticuenta account balances are in US dollars. Columns 1,2 and 3 show coefficients of interest of regression models that include branch and opening month fixed effects to account for the stratified random assignment design. Additional controls are those in Table 1, gender and migrant status of accountholder. We use randomization inference and re-randomize 2,000 times within each randomization strata to construct significance tests, and to calculate an omnibus test of overall significance that combines all outcomes (Young, 2018). The last row presents the randomization p-value of the Omnibus Test of Treatment Joint Significance for each treatment separately. All results reflect those obtained from randomization c as suggested by Young (2018). Standard errors clustered at month of opening by bank branch in parentheses.

*

p<0.10

**

p<0.05

***

p<0.01.

All monetary variables were calculated in US dollars using the market representative rate of 1USD for 2393.58 Colombian pesos, from May 4 2015.