Table 7.

Blinder-Oaxaca decomposition for gender differences in access to finance.

Panel A: Female-owned firms
Differential	Bank	Std. Error	MFI	Std. Error	Equity	Std. Error
Prediction (female)	0.087***	(1.003)	0.010***	(1.001)	0.135***	(1.004)
Prediction (male)	0.087***	(0.003)	0.010***	(0.001)	0.135***	(0.004)
Difference	0.005***	(0.012)	0.001**	(0.004)	0.019	(0.015)
Decomposition
π Endowment	0.011	(0.010)	0.005	(0.003)	-0.001	(0.013)
Γ Coefficients	0.008	(0.012)	-0.001	(0.004)	0.018	(0.015)
∞ Interaction	-0.013	(0.011)	-0.005	(0.004)	0.013	(0.014)
Observations	5,824		5,824		5,824
Panel B: Female-led firms
Differential	Bank	Std. Error	MFI	Std. Error	Equity	Std. Error
Prediction (female)	0.102***	(0.009)	0.008***	(0.003)	0.144***	(0.011)
Prediction (male)	0.085***	(0.003)	0.011***	(0.001)	0.135***	(0.004)
Difference	0.017***	(0.010)	-0.002	(0.003)	0.009	(0.012)
Decomposition
π Endowment	-0.010**	(0.004)	0.001	(0.001)	0.002	(0.005)
Γ Coefficients	0.015	(0.010)	-0.003	(0.003)	0.009	(0.012)
∞ Interaction	0.011**	(0.005)	0.000	(0.001)	-0.003	(0.006)
Observations	5,824		5,824		5,824

Notes: In all specifications, we included the same control variables as in the heckprobit regressions reported in Tables 4 and 5. Standard errors are in parentheses. *, **, and *** denote significant at the 10%, 5% and 1% level respectively.