Table 2 Marginal effects main model All...

Table 2

Marginal effects main model

	All countries			Brazil			Finland			Philippines			Saudi Arabia
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)
Atten	0.172***	0.158***	0.122***	0.0828***	0.0798***	0.0533***	0.281***	0.279***	0.235***	0.183***	0.184***	0.125***	0.143***	0.0997***	0.0479***
Atten	(0.0110)	(0.0110)	(0.0109)	(0.0139)	(0.0139)	(0.0132)	(0.0423)	(0.0419)	(0.0409)	(0.0247)	(0.0247)	(0.0257)	(0.0161)	(0.0164)	(0.0159)
DFL	0.0584***			0.0422***			0.104***			0.0681***			0.0346***
DFL	(0.0066)			(0.0100)			(0.0166)			(0.0180)			(0.0111)
Digital financial behavior		−0.00875	−0.0113**		0.0247***	0.0137		−0.0370**	−0.0356**		−0.0018	−0.0054		−0.0152	0.000805
Digital financial behavior		(0.00551)	(0.00529)		(0.0087)	(0.0086)		(0.0146)	(0.0140)		(0.0130)	(0.0124)		(0.0093)	(0.00904)
Digital financial knowledge		0.0607***	0.0388***		0.0268***	0.0098		0.0954***	0.0490***		0.055***	0.0388***		0.0650***	0.0539***
Digital financial knowledge		(0.00504)	(0.00498)		(0.0069)	(0.0067)		(0.0117)	(0.0118)		(0.0145)	(0.0142)		(0.0094)	(0.00888)
Digital financial attitude		0.00423	0.000228		−0.0044	−0.0057		0.0270**	0.0254**		0.0122	−0.0003		−0.0148	−0.0128
Digital financial attitude		(0.00517)	(0.00499)		(0.0073)	(0.0071)		(0.0125)	(0.0120)		(0.0131)	(0.0130)		(0.0100)	(0.00953)
Gender			0.0472***			0.0755***			0.0805***			0.0496**			−0.0163
Gender			(0.00879)			(0.0126)			(0.0218)			(0.0251)			(0.0150)
Age			−0.000664**			−0.0027***			0.0013*			−0.00175*			0.000305
Age			(0.000326)			(0.0005)			(0.0007)			(0.0010)			(0.000690)
Education			0.0699***			0.0193***			0.0876***			0.104***			0.139***
Education			(0.00539)			(0.0068)			(0.0118)			(0.0169)			(0.0143)
Employment status			0.0484***			0.0370**			0.0983***			0.0813***			−0.0189
Employment status			(0.0105)			(0.0150)			(0.0233)			(0.0270)			(0.0279)
Income			0.0484***			0.0262***			0.0804***			0.0149			0.0777***
Income			(0.00489)			(0.0078)			(0.0108)			(0.0123)			(0.0115)
Fixed effect	Yes	Yes	Yes	No	No	No	No	No	No	No	No	No	No	No	No
LR χ²	1,064.48	1,133.43	1,573.89	59.54	68.64	195.98	73.82	109.43	307.08	65.86	69.47	148.16	77.7	120.50	313.23
Prob > χ²	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
Observations	6,865	6,865	6,865	2,000	2,000	2,000	1,806	1,806	1,806	1,000	1,000	1,000	2,059	2,059	2,059

	All countries			Brazil			Finland			Philippines			Saudi Arabia
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)
Atten	0.172***	0.158***	0.122***	0.0828***	0.0798***	0.0533***	0.281***	0.279***	0.235***	0.183***	0.184***	0.125***	0.143***	0.0997***	0.0479***
Atten	(0.0110)	(0.0110)	(0.0109)	(0.0139)	(0.0139)	(0.0132)	(0.0423)	(0.0419)	(0.0409)	(0.0247)	(0.0247)	(0.0257)	(0.0161)	(0.0164)	(0.0159)
DFL	0.0584***			0.0422***			0.104***			0.0681***			0.0346***
DFL	(0.0066)			(0.0100)			(0.0166)			(0.0180)			(0.0111)
Digital financial behavior		−0.00875	−0.0113**		0.0247***	0.0137		−0.0370**	−0.0356**		−0.0018	−0.0054		−0.0152	0.000805
Digital financial behavior		(0.00551)	(0.00529)		(0.0087)	(0.0086)		(0.0146)	(0.0140)		(0.0130)	(0.0124)		(0.0093)	(0.00904)
Digital financial knowledge		0.0607***	0.0388***		0.0268***	0.0098		0.0954***	0.0490***		0.055***	0.0388***		0.0650***	0.0539***
Digital financial knowledge		(0.00504)	(0.00498)		(0.0069)	(0.0067)		(0.0117)	(0.0118)		(0.0145)	(0.0142)		(0.0094)	(0.00888)
Digital financial attitude		0.00423	0.000228		−0.0044	−0.0057		0.0270**	0.0254**		0.0122	−0.0003		−0.0148	−0.0128
Digital financial attitude		(0.00517)	(0.00499)		(0.0073)	(0.0071)		(0.0125)	(0.0120)		(0.0131)	(0.0130)		(0.0100)	(0.00953)
Gender			0.0472***			0.0755***			0.0805***			0.0496**			−0.0163
Gender			(0.00879)			(0.0126)			(0.0218)			(0.0251)			(0.0150)
Age			−0.000664**			−0.0027***			0.0013*			−0.00175*			0.000305
Age			(0.000326)			(0.0005)			(0.0007)			(0.0010)			(0.000690)
Education			0.0699***			0.0193***			0.0876***			0.104***			0.139***
Education			(0.00539)			(0.0068)			(0.0118)			(0.0169)			(0.0143)
Employment status			0.0484***			0.0370**			0.0983***			0.0813***			−0.0189
Employment status			(0.0105)			(0.0150)			(0.0233)			(0.0270)			(0.0279)
Income			0.0484***			0.0262***			0.0804***			0.0149			0.0777***
Income			(0.00489)			(0.0078)			(0.0108)			(0.0123)			(0.0115)
Fixed effect	Yes	Yes	Yes	No	No	No	No	No	No	No	No	No	No	No	No
LR χ²	1,064.48	1,133.43	1,573.89	59.54	68.64	195.98	73.82	109.43	307.08	65.86	69.47	148.16	77.7	120.50	313.23
Prob > χ²	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
Observations	6,865	6,865	6,865	2,000	2,000	2,000	1,806	1,806	1,806	1,000	1,000	1,000	2,059	2,059	2,059

Note(s): Models (1), (2), and (3) correspond to the full sample of countries. Models (4), (5), and (6) correspond to Brazil; models (7), (8), and (9) to Finland; models (10), (11), and (12) to the Philippines; and models (13), (14), and (15) to Saudi Arabia. Standard errors are in parentheses. ***, ** and * indicate statistical significance at the 1%, 5% and 10% levels, respectively

Source(s): Authors' own work

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