Table 6.
Estimation results of using the instrumental variable.
| IV-Probit | 2SLS | 2SLS | ||||
|---|---|---|---|---|---|---|
|
Poverty (1) |
Vulnerability (2) |
Poverty (3) |
Vulnerability (4) |
Poverty (5) |
Vulnerability (6) |
|
| Financial literacy | −0.1547*** | −0.3521*** | −0.1630** | −0.2782*** | −0.1628*** | −0.2780*** |
| (0.0218) | (0.0217) | (0.0232) | (0.0209) | (0.0230) | (0.0208) | |
| Controls | Yes | Yes | Yes | Yes | Yes | Yes |
| Community | Yes | Yes | ||||
| Province fixed effect | Yes | Yes | Yes | Yes | Yes | Yes |
| Observations | 10,846 | 10,846 | 10,846 | 10,846 | 10,846 | 10,846 |
| One stage F-value | 246.356*** | 283.175*** | 258.372*** | 325.865*** | 284.528** | 386.154** |
| Wald test | 157.279** | 175.289** | 184.319** | 154.692*** | 175.275** | 175.289*** |
| KP rk LM-value | 498.282*** | 448.270*** | 521.581*** | 458.596*** | 573.023*** | 476.073*** |
**, and *** denote significant at 5% and 1% levels, respectively. The standard errors are reported in parentheses.