Table 7 Results of regressions...

Table 7

Results of regressions separately for those that trust banks and those that do not

Variables Sub-sample	Coefficient Bank trust	Coefficient No bank trust
Age	−0.031***	0.974***
Age	(0.005)	(0.007)
High school	0.800*	5.061**
High school	(0.428)	(3.230)
Tertiary education	1.650***	12.45***
Tertiary education	(0.447)	(8.432)
Coloured	−0.413**	0.715
Coloured	(0.185)	(0.322)
Asian	−0.929***	0.879
Asian	(0.260)	(0.501)
White	−0.530***	1.119
White	(0.174)	(0.404)
Female	−0.146	0.910
Female	(0.109)	(0.193)
Rural	−0.280	2.311**
Rural	(0.181)	(0.843)
R1–R1,999	1.281***	2.459*
R1–R1,999	(0.297)	(1.272)
R2,000–R5,999	2.470***	16.48***
R2,000–R5,999	(0.292)	(8.855)
R6,000 and above	2.896***	32.41***
R6,000 and above	(0.309)	(19.27)
LSM 3–4	−1.104**	0.0997***
LSM 3–4	(0.516)	(0.0638)
LSM 5–6	−0.539	0.279***
LSM 5–6	(0.476)	(0.121)
LSM 7–8	−0.0797	0.610
LSM 7–8	(0.492)	(0.205)
LSM 9–10	0.224
LSM 9–10	(0.512)
Married	0.124	0.842
Married	(0.122)	(0.205)
2010 year	2.450***	10.95***
2010 year	(0.230)	(5.652)
2012 year	2.492***	9.169***
2012 year	(0.226)	(3.914)
2016 year	2.441***	11.29***
2016 year	(0.208)	(5.231)
Constant	−5.846***	0.001***
Constant	(0.607)	(0.001)
Observations	8,049	3,355
Region FE	Yes	Yes
Year FE	Yes	Yes

VariablesSub-sample	CoefficientBank trust	CoefficientNo bank trust
Age	−0.031***	0.974***
Age	(0.005)	(0.007)
High school	0.800*	5.061**
High school	(0.428)	(3.230)
Tertiary education	1.650***	12.45***
Tertiary education	(0.447)	(8.432)
Coloured	−0.413**	0.715
Coloured	(0.185)	(0.322)
Asian	−0.929***	0.879
Asian	(0.260)	(0.501)
White	−0.530***	1.119
White	(0.174)	(0.404)
Female	−0.146	0.910
Female	(0.109)	(0.193)
Rural	−0.280	2.311**
Rural	(0.181)	(0.843)
R1–R1,999	1.281***	2.459*
R1–R1,999	(0.297)	(1.272)
R2,000–R5,999	2.470***	16.48***
R2,000–R5,999	(0.292)	(8.855)
R6,000 and above	2.896***	32.41***
R6,000 and above	(0.309)	(19.27)
LSM 3–4	−1.104**	0.0997***
LSM 3–4	(0.516)	(0.0638)
LSM 5–6	−0.539	0.279***
LSM 5–6	(0.476)	(0.121)
LSM 7–8	−0.0797	0.610
LSM 7–8	(0.492)	(0.205)
LSM 9–10	0.224
LSM 9–10	(0.512)
Married	0.124	0.842
Married	(0.122)	(0.205)
2010 year	2.450***	10.95***
2010 year	(0.230)	(5.652)
2012 year	2.492***	9.169***
2012 year	(0.226)	(3.914)
2016 year	2.441***	11.29***
2016 year	(0.208)	(5.231)
Constant	−5.846***	0.001***
Constant	(0.607)	(0.001)
Observations	8,049	3,355
Region FE	Yes	Yes
Year FE	Yes	Yes

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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