Table A13.
Growth-redistribution decomposition of those living under $1.90 dollars a day: the role of financial inclusion using an alternative measure of financial inclusion. First-stage IV specification.
| (1 |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
(9) |
(10) |
(11) |
(12) |
(13) |
(14) |
(15) |
(16) |
(17) |
(18) |
(19) |
(20) |
(21) |
(22) |
(23) |
(24) |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ΔHeadcount |
ΔPoverty gap |
ΔPoverty gap squared |
ΔWatts |
ΔHeadcount |
ΔPoverty gap |
ΔPoverty gap squared |
ΔWatts |
ΔHeadcount |
ΔPoverty gap |
ΔPoverty gap squared |
ΔWatts |
|||||||||||||
| Dependent variable: | ΔAccount ownership | ΔAccount ownership × ΔGini | ΔAccount ownership | ΔAccount ownership × ΔGini | ΔAccount ownership | ΔAccount ownership × ΔGini | ΔAccount ownership | ΔAccount ownership × ΔGini | ΔAccount ownership male | ΔAccount ownership male × ΔGini | ΔAccount ownership male | ΔAccount ownership male × ΔGini | ΔAccount ownership male | ΔAccount ownership male × ΔGini | ΔAccount ownership male | ΔAccount ownership male × ΔGini | ΔAccount ownership female | ΔAccount ownership female × ΔGini | ΔAccount ownership female | ΔAccount ownership female × ΔGini | ΔAccount ownership female | ΔAccount ownership female × ΔGini | ΔAccount ownership female | ΔAccount ownership female × ΔGini |
| Mobile subscription lagged 2 periods | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.020*** | −0.000 | 0.019*** | −0.000 | 0.019*** | −0.000 | 0.019*** | −0.000 | 0.019*** | −0.000 |
| (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.007) | (0.000) | (0.007) | (0.000) | (0.007) | (0.000) | (0.007) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | |
| Origin of legal system | ||||||||||||||||||||||||
| French | −0.011*** | 0.000 | −0.011*** | 0.000 | −0.011*** | 0.000 | −0.011*** | 0.000 | −0.012*** | 0.000 | −0.012*** | 0.000 | −0.012*** | 0.000 | −0.012*** | 0.000 | −0.011** | 0.000 | −0.011** | 0.000 | −0.011** | 0.000 | −0.011** | 0.000 |
| (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | |
| Socialist | −0.027*** | 0.000 | −0.027*** | 0.000 | −0.027*** | 0.000 | −0.027*** | 0.000 | −0.033*** | 0.000 | −0.033*** | 0.000 | −0.033*** | 0.000 | −0.033*** | 0.000 | −0.022** | −0.000 | −0.022** | −0.000 | −0.022** | −0.000 | −0.022** | −0.000 |
| (0.007) | (0.000) | (0.007) | (0.000) | (0.007) | (0.000) | (0.007) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.009) | (0.000) | (0.009) | (0.000) | (0.009) | (0.000) | (0.009) | (0.000) | |
| Airports per kilometre2 | −0.017 | −0.002 | −0.017 | −0.002 | −0.017 | −0.002 | −0.017 | −0.002 | −0.021 | −0.002* | −0.021 | −0.002* | −0.021 | −0.002* | −0.021 | −0.002* | −0.011 | −0.001 | −0.011 | −0.001 | −0.011 | −0.001 | −0.011 | −0.001 |
| (0.018) | (0.001) | (0.018) | (0.001) | (0.018) | (0.001) | (0.018) | (0.001) | (0.021) | (0.001) | (0.021) | (0.001) | (0.021) | (0.001) | (0.021) | (0.001) | (0.020) | (0.001) | (0.020) | (0.001) | (0.020) | (0.001) | (0.020) | (0.001) | |
| ΔGini | −0.098 | 0.020 | −0.098 | 0.020 | −0.098 | 0.020 | −0.098 | 0.020 | −0.012 | 0.016 | −0.012 | 0.016 | −0.012 | 0.016 | −0.012 | 0.016 | −0.178 | 0.024* | −0.178 | 0.024* | −0.178 | 0.024* | −0.178 | 0.024* |
| (0.150) | (0.013) | (0.150) | (0.013) | (0.150) | (0.013) | (0.150) | (0.013) | (0.159) | (0.012) | (0.159) | (0.012) | (0.159) | (0.012) | (0.159) | (0.012) | (0.158) | (0.014) | (0.158) | (0.014) | (0.158) | (0.014) | (0.158) | (0.014) | |
| GDP growth rate | 0.081* | 0.002 | 0.081* | 0.002 | 0.081* | 0.002 | 0.081* | 0.002 | 0.086* | 0.002 | 0.086* | 0.002 | 0.086* | 0.002 | 0.086* | 0.002 | 0.079* | 0.002 | 0.079* | 0.002 | 0.079* | 0.002 | 0.079* | 0.002 |
| (0.043) | (0.002) | (0.043) | (0.002) | (0.043) | (0.002) | (0.043) | (0.002) | (0.044) | (0.002) | (0.044) | (0.002) | (0.044) | (0.002) | (0.044) | (0.002) | (0.045) | (0.002) | (0.045) | (0.002) | (0.045) | (0.002) | (0.045) | (0.002) | |
| Constant | −0.006 | −0.000 | −0.006 | −0.000 | −0.006 | −0.000 | −0.006 | −0.000 | −0.005 | −0.000 | −0.005 | −0.000 | −0.005 | −0.000 | −0.005 | −0.000 | −0.006 | −0.000 | −0.006 | −0.000 | −0.006 | −0.000 | −0.006 | −0.000 |
| (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.005) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | (0.004) | (0.000) | |
| Year fixed effects | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Observations | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 |
| R-squared | 0.428 | 0.128 | 0.428 | 0.128 | 0.428 | 0.128 | 0.428 | 0.128 | 0.425 | 0.106 | 0.425 | 0.106 | 0.425 | 0.106 | 0.425 | 0.106 | 0.394 | 0.145 | 0.394 | 0.145 | 0.394 | 0.145 | 0.394 | 0.145 |
Note: Δ indicates change from one period to the next. Robust standard errors, clustered at the country level in parentheses. Significance level *** p < 0.01, ** p < 0.05, * p < 0.1. Respective second-stage IV random effects regression in Table 6. Source: World Bank’s PovcalNet database and Global Findex. Coverage: 2011–2018 period.