Table 5 Results of logistic regression...

Table 5

Results of logistic regression

Variables	Coefficient	Log-odds	Marginal effects
Age	−0.0297***	0.971***	−0.0007***
Age	(0.00402)	(0.00390)	(0.0001)
Bank trust – yes	0.304**	1.356**	0.0067**
Bank trust – yes	(0.123)	(0.167)	(0.0027)
High school	0.966***	2.627***	0.0155***
High school	(0.363)	(0.954)	(0.0042)
Tertiary education	1.823***	6.192***	0.0477***
Tertiary education	(0.381)	(2.360)	(0.0085)
Coloured	−0.442**	0.643**	−0.0091***
Coloured	(0.172)	(0.110)	(0.0031)
Asian	−0.798***	0.450***	−0.0140***
Asian	(0.238)	(0.107)	(0.0032)
White	−0.389**	0.677**	−0.0082***
White	(0.159)	(0.107)	(0.0030)
Female	−0.143	0.867	−0.0033
Female	(0.0970)	(0.0841)	(0.0023)
Rural	−0.0511	0.950	−0.0012
Rural	(0.160)	(0.152)	(0.0036)
R1–R1,999	1.232***	3.429***	0.0130***
R1–R1,999	(0.259)	(0.887)	(0.0024)
R2,000–R5,999	2.558***	12.91***	0.0606***
R2,000–R5,999	(0.256)	(3.308)	(0.0065)
R6,000 and above	3.009***	20.27***	0.0944***
R6,000 and above	(0.272)	(5.517)	(0.0124)
LSM 3–4	−0.827*	0.437*	−0.0148
LSM 3–4	(0.490)	(0.214)	(0.0116)
LSM 5–6	−0.146	0.865	−0.0035
LSM 5–6	(0.455)	(0.394)	(0.0117)
LSM 7–8	0.379	1.461	0.0118
LSM 7–8	(0.471)	(0.688)	(0.0129)
LSM 9–10	0.722	2.058	0.0267*
LSM 9–10	(0.488)	(1.004)	(0.0152)
Married	0.0945	1.099	0.0022
Married	(0.109)	(0.120)	(0.0026)
2010 year	2.437***	11.44***	0.0412***
2010 year	(0.211)	(2.420)	(0.0060)
2012 year	2.404***	11.07***	0.0398***
2012 year	(0.200)	(2.212)	(0.0045)
2016 year	2.427***	11.32***	0.0408***
2016 year	(0.190)	(2.148)	(0.0043)
Constant	−6.834***	0.00108***
Constant	(0.569)	(0.000612)
Observations	11,762	11,762	11,762
Region and year FE	Yes	Yes	Yes
Pseudo R-squared	0.3075

Variables	Coefficient	Log-odds	Marginal effects
Age	−0.0297***	0.971***	−0.0007***
Age	(0.00402)	(0.00390)	(0.0001)
Bank trust – yes	0.304**	1.356**	0.0067**
Bank trust – yes	(0.123)	(0.167)	(0.0027)
High school	0.966***	2.627***	0.0155***
High school	(0.363)	(0.954)	(0.0042)
Tertiary education	1.823***	6.192***	0.0477***
Tertiary education	(0.381)	(2.360)	(0.0085)
Coloured	−0.442**	0.643**	−0.0091***
Coloured	(0.172)	(0.110)	(0.0031)
Asian	−0.798***	0.450***	−0.0140***
Asian	(0.238)	(0.107)	(0.0032)
White	−0.389**	0.677**	−0.0082***
White	(0.159)	(0.107)	(0.0030)
Female	−0.143	0.867	−0.0033
Female	(0.0970)	(0.0841)	(0.0023)
Rural	−0.0511	0.950	−0.0012
Rural	(0.160)	(0.152)	(0.0036)
R1–R1,999	1.232***	3.429***	0.0130***
R1–R1,999	(0.259)	(0.887)	(0.0024)
R2,000–R5,999	2.558***	12.91***	0.0606***
R2,000–R5,999	(0.256)	(3.308)	(0.0065)
R6,000 and above	3.009***	20.27***	0.0944***
R6,000 and above	(0.272)	(5.517)	(0.0124)
LSM 3–4	−0.827*	0.437*	−0.0148
LSM 3–4	(0.490)	(0.214)	(0.0116)
LSM 5–6	−0.146	0.865	−0.0035
LSM 5–6	(0.455)	(0.394)	(0.0117)
LSM 7–8	0.379	1.461	0.0118
LSM 7–8	(0.471)	(0.688)	(0.0129)
LSM 9–10	0.722	2.058	0.0267*
LSM 9–10	(0.488)	(1.004)	(0.0152)
Married	0.0945	1.099	0.0022
Married	(0.109)	(0.120)	(0.0026)
2010 year	2.437***	11.44***	0.0412***
2010 year	(0.211)	(2.420)	(0.0060)
2012 year	2.404***	11.07***	0.0398***
2012 year	(0.200)	(2.212)	(0.0045)
2016 year	2.427***	11.32***	0.0408***
2016 year	(0.190)	(2.148)	(0.0043)
Constant	−6.834***	0.00108***
Constant	(0.569)	(0.000612)
Observations	11,762	11,762	11,762
Region and year FE	Yes	Yes	Yes
Pseudo R-squared	0.3075

Note(s): Robust standard errors are reported in parentheses. *, **, and *** denote significance at the 10%, 5% and 1% level, respectively. Reference categories: No trust in banks, primary school education, Black, male, urban, no income, LSM 1–2, unmarried

Source(s): Authors’ own work

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