Table 8.
The combined effects of financial inclusion and mobile use (employing one-year lagged variables)
| Variables | Dependent: poverty | Dependent: Inequality | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (71) | (72) | (73) | (74) | (75) | (76) | (77) | (78) | (79) | (80) | (81) | (82) | (83) | (84) | |
| FE-GLS | FGLS | FE-GLS | FE-GLS | FGLS | FE-GLS | FE-GLS | FE-GLS | FE-GLS | FE-GLS | FGLS | FE-GLS | FE-GLS | FE-GLS | |
| (FI_1 x MOB) t-1 | − 0.0451*** | − 0.00493*** | ||||||||||||
| (0.00896) | (0.00126) | |||||||||||||
| (FI_2 x MOV) t-1 | − 0.0275*** | − 0.00147 | ||||||||||||
| (0.00949) | (0.00183) | |||||||||||||
| (ATMS x MOB) t-1 | − 0.0519*** | − 0.00571*** | ||||||||||||
| (0.0109) | (0.00105) | |||||||||||||
| (DEP1K x MOB) t-1 | − 0.0173 | 0.000743 | ||||||||||||
| (0.0121) | (0.00179) | |||||||||||||
| (ACC1K x MOB) t-1 | − 0.0137** | − 0.00482*** | ||||||||||||
| (0.00638) | (0.00129) | |||||||||||||
| (BOR1K x MOB) t-1 | − 0.0573*** | -− 0.00102 | ||||||||||||
| (0.0136) | (0.00158) | |||||||||||||
| (LOANS x MOB) t-1 | − 0.0477*** | − 0.0107*** | ||||||||||||
| (0.00933) | (0.00187) | |||||||||||||
| (DEPGDP x MOB) t-1 | − 0.0447*** | − 0.00761*** | ||||||||||||
| (0.00963) | (0.00211) | |||||||||||||
| GDPPC | − 1.597*** | − 0.170 | − 1.800*** | − 1.677*** | − 0.391** | − 1.569*** | − 1.751*** | − 0.164*** | − 0.139*** | − 0.371*** | 0.0134 | − 0.355*** | − 0.158*** | − 0.227*** |
| (0.498) | (0.182) | (0.421) | (0.247) | (0.198) | (0.204) | (0.185) | (0.0603) | (0.0459) | (0.0652) | (0.0256) | (0.0474) | (0.0400) | (0.0410) | |
| FEM | 0.0754 | 1.281* | 1.689 | − 0.0932 | 1.849** | 0.522 | 0.376 | − 0.606*** | − 0.229 | − 0.177 | − 0.260** | − 0.409*** | − 0.185 | − 0.145 |
| (1.515) | (0.696) | (1.433) | (0.749) | (0.741) | (0.696) | (0.674) | (0.213) | (0.147) | (0.222) | (0.112) | (0.147) | (0.136) | (0.143) | |
| RURAL | 0.936 | 1.610*** | 1.652*** | 1.555*** | 1.332*** | 1.126*** | 1.064*** | − 0.101 | 0.0858 | − 0.0181 | 0.0472 | − 0.0896 | 0.0601 | 0.0599 |
| (0.717) | (0.198) | (0.513) | (0.449) | (0.154) | (0.331) | (0.332) | (0.0793) | (0.0550) | (0.0824) | (0.0304) | (0.0630) | (0.0520) | (0.0542) | |
| UNEMP | 0.571*** | 0.507*** | 0.371*** | 0.372*** | 0.755*** | 0.326*** | 0.320*** | 0.0697*** | 0.00958 | 0.0151 | 0.0246* | − 0.00280 | − 0.00246 | − 0.00739 |
| (0.172) | (0.0939) | (0.131) | (0.0742) | (0.102) | (0.0693) | (0.0697) | (0.0247) | (0.0139) | (0.0209) | (0.0142) | (0.0150) | (0.0123) | (0.0136) | |
| ROL | − 0.282 | − 0.585*** | − 0.403** | − 0.551*** | − 0.790*** | − 0.506*** | − 0.511*** | 0.0728* | 0.0127 | 0.0681** | − 0.00347 | 0.0607** | 0.0171 | 0.0283 |
| (0.242) | (0.130) | (0.191) | (0.145) | (0.144) | (0.123) | (0.124) | (0.0389) | (0.0188) | (0.0299) | (0.0172) | (0.0240) | (0.0182) | (0.0188) | |
| INF | − 0.00593 | − 0.000326 | − 0.00529 | − 0.00485 | 0.00216 | − 0.00172 | − 0.00262 | − 0.000456 | − 0.000661 | − 0.00224*** | − 0.000645 | − 0.00207*** | − 0.00163*** | − 0.00198*** |
| (0.00506) | (0.00469) | (0.00463) | (0.00394) | (0.00500) | (0.00367) | (0.00371) | (0.000787) | (0.000592) | (0.000772) | (0.000600) | (0.000661) | (0.000615) | (0.000652) | |
| Constant | − 7.428* | − 6.784** | 4.662*** | |||||||||||
| (3.869) | (3.336) | (0.564) | ||||||||||||
| Hausman | 49.66*** | 10.24 | 17.7** | 18.1** | 11.2 | 13.75* | 15.60** | 49.47*** | 14.27** | 39.01*** | 8.5 | 38.0*** | 17.14** | 18.19** |
| Mod. Wald | 10,171*** | 613.3*** | 444.9*** | 837.53*** | 931.5*** | 615.3*** | 573.2*** | 897.6*** | 3229*** | 2772*** | 222.5*** | 2784*** | 3477*** | 3394*** |
| Wooldridge | 34.91*** | 6.26** | 12.76*** | 5.35** | 13.95*** | 6.74** | 6.05** | 2.21 | 5.58** | 3.89* | 14.28*** | 5.83** | 5.68** | 6.24** |
| Wald Chi2 | 6172*** | 355** | 10,206*** | 24,859*** | 809*** | 28,509*** | 36,058*** | 3,590,772*** | 4,206,089*** | 2,812,511*** | 48.57*** | 3,895,192*** | 5,456,669*** | 4,627,209*** |
| Observations | 69 | 129 | 91 | 120 | 100 | 129 | 129 | 69 | 129 | 91 | 120 | 100 | 129 | 129 |
| Countries | 8 | 13 | 10 | 12 | 11 | 13 | 13 | 8 | 13 | 10 | 12 | 11 | 13 | 13 |
Standard errors in parentheses. *** p < 0.01, ** p < 0.05, * p < 0.01. FE-GLS, Fixed-Effects Generalized Least Squares with country-specific dummy-variables and no intercept; FGLS, Feasible Generalized Least Squares