Table 9 Results of the baseline model...

Table 9

Results of the baseline model without using survey weights

Variables	Coefficient	Log-odds	Marginal effects
Age	−0.0295***	0.971***	−0.0009***
Age	(0.00297)	(0.00289)	(0.0001)
Bank trust – yes	0.244***	1.276***	0.0074***
Bank trust – yes	(0.0931)	(0.119)	(0.0027)
High school	0.851***	2.342***	0.0188***
High school	(0.287)	(0.672)	(0.0046)
Tertiary education	1.701***	5.482***	0.0600***
Tertiary education	(0.299)	(1.641)	(0.0082)
Coloured	−0.177	0.837	−0.0056
Coloured	(0.114)	(0.0958)	(0.0035)
Asian	−0.643***	0.526***	−0.0166***
Asian	(0.172)	(0.0902)	(0.0036)
White	−0.184	0.832	−0.0058*
White	(0.115)	(0.0960)	(0.0035)
Female	−0.0329	0.968	−0.0010
Female	(0.0732)	(0.0708)	(0.0023)
Rural	−0.127	0.881	−0.0039
Rural	(0.132)	(0.116)	(0.0040)
R1–R1,999	0.952***	2.590***	0.0137***
R1–R1,999	(0.199)	(0.515)	(0.0025)
R2,000–R5,999	2.113***	8.277***	0.0600***
R2,000–R5,999	(0.195)	(1.614)	(0.0055)
R6,000 and above	2.618***	13.70***	0.1001***
R6,000 and above	(0.203)	(2.787)	(0.0095)
LSM 3–4	−0.379	0.684	−0.0070
LSM 3–4	(0.379)	(0.260)	(0.0078)
LSM 5–6	0.338	1.402	0.0087
LSM 5–6	(0.353)	(0.496)	(0.0080)
LSM 7–8	0.796**	2.216**	0.0259***
LSM 7–8	(0.365)	(0.809)	(0.0092)
LSM 9–10	1.119***	3.060***	0.0431***
LSM 9–10	(0.373)	(1.141)	(0.0110)
Married	0.0573	1.059	0.0018
Married	(0.0784)	(0.0830)	(0.0025)
2010 year	1.996***	7.358***	0.0575***
2010 year	(0.160)	(1.174)	(0.0058)
2012 year	1.781***	5.933***	0.0452***
2012 year	(0.158)	(0.935)	(0.0045)
2016 year	1.492***	4.447***	0.0320***
2016 year	(0.156)	(0.693)	(0.0035)
Constant	−6.331***	0.00178***
Constant	(0.480)	(0.000854)
Observations	11,762	11,762	11,762
Region FE	Yes	Yes	Yes
Year FE	Yes	Yes	Yes
Pseudo R-squared	0.2842

Variables	Coefficient	Log-odds	Marginal effects
Age	−0.0295***	0.971***	−0.0009***
Age	(0.00297)	(0.00289)	(0.0001)
Bank trust – yes	0.244***	1.276***	0.0074***
Bank trust – yes	(0.0931)	(0.119)	(0.0027)
High school	0.851***	2.342***	0.0188***
High school	(0.287)	(0.672)	(0.0046)
Tertiary education	1.701***	5.482***	0.0600***
Tertiary education	(0.299)	(1.641)	(0.0082)
Coloured	−0.177	0.837	−0.0056
Coloured	(0.114)	(0.0958)	(0.0035)
Asian	−0.643***	0.526***	−0.0166***
Asian	(0.172)	(0.0902)	(0.0036)
White	−0.184	0.832	−0.0058*
White	(0.115)	(0.0960)	(0.0035)
Female	−0.0329	0.968	−0.0010
Female	(0.0732)	(0.0708)	(0.0023)
Rural	−0.127	0.881	−0.0039
Rural	(0.132)	(0.116)	(0.0040)
R1–R1,999	0.952***	2.590***	0.0137***
R1–R1,999	(0.199)	(0.515)	(0.0025)
R2,000–R5,999	2.113***	8.277***	0.0600***
R2,000–R5,999	(0.195)	(1.614)	(0.0055)
R6,000 and above	2.618***	13.70***	0.1001***
R6,000 and above	(0.203)	(2.787)	(0.0095)
LSM 3–4	−0.379	0.684	−0.0070
LSM 3–4	(0.379)	(0.260)	(0.0078)
LSM 5–6	0.338	1.402	0.0087
LSM 5–6	(0.353)	(0.496)	(0.0080)
LSM 7–8	0.796**	2.216**	0.0259***
LSM 7–8	(0.365)	(0.809)	(0.0092)
LSM 9–10	1.119***	3.060***	0.0431***
LSM 9–10	(0.373)	(1.141)	(0.0110)
Married	0.0573	1.059	0.0018
Married	(0.0784)	(0.0830)	(0.0025)
2010 year	1.996***	7.358***	0.0575***
2010 year	(0.160)	(1.174)	(0.0058)
2012 year	1.781***	5.933***	0.0452***
2012 year	(0.158)	(0.935)	(0.0045)
2016 year	1.492***	4.447***	0.0320***
2016 year	(0.156)	(0.693)	(0.0035)
Constant	−6.331***	0.00178***
Constant	(0.480)	(0.000854)
Observations	11,762	11,762	11,762
Region FE	Yes	Yes	Yes
Year FE	Yes	Yes	Yes
Pseudo R-squared	0.2842

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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