Table 6 Results of logistic regression...

Table 6

Results of logistic regression of equation (1) including the square term for age

Variables	Coefficient	Marginal effects
Age	0.050**	0.001**
Age	(0.025)	(0.001)
Age squared	−0.000***	−0.000***
Age squared	(0.000)	(0.000)
Bank trust – yes	0.303**	0.0065**
Bank trust – yes	(0.124)	(0.003)
High school	0.905**	0.0142***
High school	(0.362)	(0.004)
Tertiary education	1.761***	0.045***
Tertiary education	(0.380)	(0.008)
Coloured	−0.421**	−0.008***
Coloured	(0.172)	(0.003)
Asian	−0.767***	−0.013***
Asian	(0.238)	(0.003)
White	−0.318**	−0.007**
White	(0.159)	(0.003)
Female	−0.170*	−0.004*
Female	(0.098)	(0.002)
Rural	−0.041	−0.001
Rural	(0.160)	(0.003)
R1–R1,999	1.169***	0.016***
R1–R1,999	(0.259)	(0.002)
R2,000–R5,999	2.410***	0.055***
R2,000–R5,999	(0.262)	(0.006)
R6,000 and above	2.805***	0.081***
R6,000 and above	(0.280)	(0.012)
LSM 3–4	−0.810*	−0.013
LSM 3–4	(0.484)	(0.011)
LSM 5–6	−0.105	−0.002
LSM 5–6	(0.449)	(0.011)
LSM 7–8	0.445	0.013
LSM 7–8	(0.464)	(0.012)
LSM 9–10	0.803*	0.029**
LSM 9–10	(0.481)	(0.015)
Married	0.009	0.001
Married	(0.112)	(0.003)
2010 year	2.421***	0.040***
2010 year	(0.211)	(0.006)
2012 year	2.413***	0.039***
2012 year	(0.199)	(0.004)
2016 year	2.449***	0.040***
2016 year	(0.189)	(0.004)
Constant	−8.084***
Constant	(0.637)
Observations	11,762	11,762
Region FE	Yes	Yes
Year FE	Yes	Yes
Pseudo R-squared	0.310

Variables	Coefficient	Marginal effects
Age	0.050**	0.001**
Age	(0.025)	(0.001)
Age squared	−0.000***	−0.000***
Age squared	(0.000)	(0.000)
Bank trust – yes	0.303**	0.0065**
Bank trust – yes	(0.124)	(0.003)
High school	0.905**	0.0142***
High school	(0.362)	(0.004)
Tertiary education	1.761***	0.045***
Tertiary education	(0.380)	(0.008)
Coloured	−0.421**	−0.008***
Coloured	(0.172)	(0.003)
Asian	−0.767***	−0.013***
Asian	(0.238)	(0.003)
White	−0.318**	−0.007**
White	(0.159)	(0.003)
Female	−0.170*	−0.004*
Female	(0.098)	(0.002)
Rural	−0.041	−0.001
Rural	(0.160)	(0.003)
R1–R1,999	1.169***	0.016***
R1–R1,999	(0.259)	(0.002)
R2,000–R5,999	2.410***	0.055***
R2,000–R5,999	(0.262)	(0.006)
R6,000 and above	2.805***	0.081***
R6,000 and above	(0.280)	(0.012)
LSM 3–4	−0.810*	−0.013
LSM 3–4	(0.484)	(0.011)
LSM 5–6	−0.105	−0.002
LSM 5–6	(0.449)	(0.011)
LSM 7–8	0.445	0.013
LSM 7–8	(0.464)	(0.012)
LSM 9–10	0.803*	0.029**
LSM 9–10	(0.481)	(0.015)
Married	0.009	0.001
Married	(0.112)	(0.003)
2010 year	2.421***	0.040***
2010 year	(0.211)	(0.006)
2012 year	2.413***	0.039***
2012 year	(0.199)	(0.004)
2016 year	2.449***	0.040***
2016 year	(0.189)	(0.004)
Constant	−8.084***
Constant	(0.637)
Observations	11,762	11,762
Region FE	Yes	Yes
Year FE	Yes	Yes
Pseudo R-squared	0.310

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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