Table 8.

Test on the impact mechanism of financial literacy on relative poverty (2SLS estimation).

Variable	Poverty	Participation in entrepreneurship			Poverty	Exit operation
		Full sample	Poor households	Non-poor households
	(1)	(2)	(3)	(4)	(5)	(6)
Participation in Entrepreneurship	−0.1764***
	(0.0328)
Financial literacy		0.0634***	−0.2536	0.0816**		−0.0629**
		(0.0045)	(0.3621)	(0.0216)		(0.0362)
Continuous operation					−0.0317**
					(0.0194)
New operation					−0.0228
					(0.0135)
Exit operation					0.0164
					(0.0144)
Controls	Yes	Yes	Yes	Yes	Yes	Yes
Province fixed effect	Yes	Yes	Yes	Yes	Yes	Yes
Observations	9,748	9,748	1,753	9,123	9,748	9,748

**, and *** denote significant at 5% and 1% levels, respectively. The standard error of clustering at the provincial level is in parentheses.