Table 3 Marginal effects and the...

Table 3

Marginal effects and the interactive role of digital financial literacy

	All countries	Brazil	Finland	Philippines	Saudi Arabia	All countries	Brazil	Finland	Philippines	Saudi Arabia
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)
Atten	0.171***	0.0878***	0.285***	0.207***	0.150***	0.131***	0.0528***	0.239***	0.144***	0.0800***
Atten	(0.0110)	(0.0154)	(0.0457)	(0.0244)	(0.0152)	(0.0108)	(0.0147)	(0.0442)	(0.0256)	(0.0151)
DFL	0.0612***	0.0465***	0.103***	0.130***	0.00475	0.0285***	0.0128	0.0461***	0.0850***	0.0134
DFL	(0.00758)	(0.0117)	(0.0175)	(0.0217)	(0.0130)	(0.00742)	(0.0113)	(0.0173)	(0.0213)	(0.0126)
Attention * DFL	−0.0118	−0.0168	0.0148	−0.192***	0.0929***	0.00463	0.00376	0.0292	−0.148***	0.0787***
Attention * DFL	(0.0161)	(0.0226)	(0.0594)	(0.0374)	(0.0236)	(0.0153)	(0.0224)	(0.0569)	(0.0364)	(0.0225)
Gender						0.0485***	0.0763***	0.0911***	0.0455*	−0.0280*
Gender						(0.00885)	(0.0126)	(0.0216)	(0.0249)	(0.0149)
Age						−0.000730**	−0.00273***	0.00107	−0.00189**	0.000411
Age						(0.000327)	(0.000473)	(0.000767)	(0.000953)	(0.000696)
Education						0.0726***	0.0209***	0.0924***	0.0974***	0.147***
Education						(0.00543)	(0.00678)	(0.0118)	(0.0168)	(0.0146)
Employment status						0.0489***	0.0384**	0.0961***	0.0810***	−0.0167
Employment status						(0.0106)	(0.0150)	(0.0234)	(0.0268)	(0.0278)
Income						0.0501***	0.0264***	0.0833***	0.00995	0.0782***
Income						(0.00490)	(0.00784)	(0.0108)	(0.0122)	(0.0115)
Fixed effect	Yes	No	No	No	No	Yes	No	No	No	No
LR χ²	1,065.02	60.09	73.88	90.95	93.29	1,531.92	192.52	289.14	160.9	300.07
Prob > χ²	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
Observations	6,865	2,000	1,806	1,000	2,059	6,865	2,000	1,806	1,000	2,059

	All countries	Brazil	Finland	Philippines	Saudi Arabia	All countries	Brazil	Finland	Philippines	Saudi Arabia
	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)
Atten	0.171***	0.0878***	0.285***	0.207***	0.150***	0.131***	0.0528***	0.239***	0.144***	0.0800***
Atten	(0.0110)	(0.0154)	(0.0457)	(0.0244)	(0.0152)	(0.0108)	(0.0147)	(0.0442)	(0.0256)	(0.0151)
DFL	0.0612***	0.0465***	0.103***	0.130***	0.00475	0.0285***	0.0128	0.0461***	0.0850***	0.0134
DFL	(0.00758)	(0.0117)	(0.0175)	(0.0217)	(0.0130)	(0.00742)	(0.0113)	(0.0173)	(0.0213)	(0.0126)
Attention * DFL	−0.0118	−0.0168	0.0148	−0.192***	0.0929***	0.00463	0.00376	0.0292	−0.148***	0.0787***
Attention * DFL	(0.0161)	(0.0226)	(0.0594)	(0.0374)	(0.0236)	(0.0153)	(0.0224)	(0.0569)	(0.0364)	(0.0225)
Gender						0.0485***	0.0763***	0.0911***	0.0455*	−0.0280*
Gender						(0.00885)	(0.0126)	(0.0216)	(0.0249)	(0.0149)
Age						−0.000730**	−0.00273***	0.00107	−0.00189**	0.000411
Age						(0.000327)	(0.000473)	(0.000767)	(0.000953)	(0.000696)
Education						0.0726***	0.0209***	0.0924***	0.0974***	0.147***
Education						(0.00543)	(0.00678)	(0.0118)	(0.0168)	(0.0146)
Employment status						0.0489***	0.0384**	0.0961***	0.0810***	−0.0167
Employment status						(0.0106)	(0.0150)	(0.0234)	(0.0268)	(0.0278)
Income						0.0501***	0.0264***	0.0833***	0.00995	0.0782***
Income						(0.00490)	(0.00784)	(0.0108)	(0.0122)	(0.0115)
Fixed effect	Yes	No	No	No	No	Yes	No	No	No	No
LR χ²	1,065.02	60.09	73.88	90.95	93.29	1,531.92	192.52	289.14	160.9	300.07
Prob > χ²	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
Observations	6,865	2,000	1,806	1,000	2,059	6,865	2,000	1,806	1,000	2,059

Note(s): Standard errors are in parentheses. ***, ** and * indicate statistical significance at the 1%, 5% and 10% levels, respectively

Source(s): Authors' own work

Sharing Unavailable