Table 6.
Tests for mechanisms
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | |
|---|---|---|---|---|---|---|---|---|---|
| VARIABLES | Loan dummy | Ln IQR | Ln Std. Dev. | Loan dummy | |||||
| Work region dummy in t | 0.1419** | 0.4911 | 0.4392 | 0.1564*** | 0.1090** | 0.1251** | |||
| (0.0585) | (0.4908) | (0.3920) | (0.0585) | (0.0545) | (0.0496) | ||||
| Education region dummy in t | 0.0534 | 0.0340 | 0.0283 | ||||||
| (0.0364) | (0.0390) | (0.0392) | |||||||
| Experience in work region | 0.0069 | 0.0061 | |||||||
| (0.0054) | (0.0045) | ||||||||
| region experience - reference: 0 years | |||||||||
| 1-3 years | -0.1150 | ||||||||
| (0.2361) | |||||||||
| 4-6 years | -0.5602 | ||||||||
| (0.6629) | |||||||||
| 7-9 years | 0.0160 | ||||||||
| (0.2227) | |||||||||
| 10-12 years | 0.2301 | ||||||||
| (0.4267) | |||||||||
| 12+ years | 0.1995 | ||||||||
| (0.1242) | |||||||||
| Sample | full | treatment = 1 | without zero loans | full | full | both regions known | |||
| Observations | 6,642 | 470 | 470 | 1,600 | 1,600 | 6,642 | 6,642 | 6,642 | 6,642 |
| R-squared | 0.2547 | 0.9042 | 0.9081 | 0.4003 | 0.3934 | 0.2528 | 0.2542 | 0.2537 | 0.2535 |
| Number of regions | 266 | 29 | 29 | 221 | 221 | 266 | 266 | 266 | 266 |
| Dependent variable mean | .42 | .68 | .68 | 17.03 | 16.79 | .42 | .42 | .42 | .42 |
*** p < 0.01, ** p < 0.05, * p < 0.1. The table presents results for the estimation of the model in Eq. 1. Standard errors are in parentheses and clustered on the level of NUTS 2 regions. The sample start year is 1990 and the method is OLS for all regressions. Control variables, region fixed effects, and country-year fixed effects are included in all regressions