Table 4.

Financial inclusion and depressive symptoms (2LS).

	CES-D Score (1)	CESD-Dummy (2)
Financial inclusion	−0.962** (0.433)	−0.633** (0.256)
Region Dummies	Yes	Yes
First-stage Regression Distance to nearest financial institution	Financial Inclusion −0.026*** (0.004)
Weak identification test: Cragg-Donald Wald F statistic: Kleibergen-Paap rk Wald F statistic Stock-Yogo weak ID test critical values: 10% maximal IV size	43.507 34.366 16.380
Observations	4551	4551

All regressions control for household size, age of household head, household head married, household head literate, household head employed, household head had illness or injury in the past four weeks, distance to nearest road, total income, value of household assets, and population density. Standard errors in parenthesis. *, **, and *** indicate significance at 10%, 5%, and 1%, respectively. Standard errors are clustered at the enumeration area.