Table 10.
Further analysis: different financial literacy groups.
| Dependent variable: vulnerability | ||||
|---|---|---|---|---|
| Financial literacy | (1) | (2) | (3) | (4) |
| Low level | −0.1524*** | |||
| (0.0217) | ||||
| Medium level financial literacy | −0.2138*** | |||
| (0.0279) | ||||
| Medium and high level | −0.2753** | |||
| (0.0291) | ||||
| High level | −0.3362** | |||
| (0.0315) | ||||
| Controls | Yes | Yes | Yes | Yes |
| Province fixed effect | Yes | Yes | Yes | Yes |
| Observations | 2,533 | 4,601 | 2,509 | 1,233 |
**, and *** denote significant at 5% and 1% levels, respectively. The standard error of clustering at the provincial level is in parentheses.