Table 1

Descriptive statistics

VariableDescriptionMeanMin.Max.Standard dev.
Household characteristics
fhhGender of household head (female = 1, 0 otherwise)0.1242993010.3299374
hh_sizeThe total number of household members irrespective of age.6.6460541353.460684
hh_sizeˆ2Household size squared56.145314,22562.33843
hoh_ageAge of household head (years)49.158561513014.8158
hoh_ageˆ2Age of household head (years) squared2636.05240012,1001579.739
hoh_eduEducation of household head (years)4.5210430124.85692
hoh_eduˆ2Education of household head (years) squared44.0274014457.33382
aved_hhmemMean years of schooling of household members (years)2.4176750122.668728
dep_ratioDependency ratio (age <14 > 64) to active working age1.8265710.0781295.81.266848
Wealth indicators
hh_assetValue of household assets (Naira) per capita95733.0101.51e+07359470.4
loghh_assetˆ2Natural log of value of household assets (Naira) per capita squared110.547101.96e+1429.56705
Community characteristics
dist_mktDistance from household location to nearest major market (km)/1000.69904460.00282.270.4132075
dist_rdDistance from household location to nearest tarred road (km)/1000.096962301.1520.1314087
Shock variables
idio_shockHousehold affected by idiosyncratic shocks: death of a family member, illness or loss of job = 1; 0 otherwise0.1320402010.3385495
price_shockHousehold affected by price shocks: unanticipated changes of food prices, input and output prices = 1; 0 otherwise0.1339977010.340665
nat_shockHousehold affected by demographic shocks: natural disasters, like floods, pests or drought = 1; 0 otherwise0.1443189010.3514284
Financial access variables
credit_accessHousehold access to formal financial service credit = 1; 0 otherwise0.0162826010.1265658
Source(s): Authors’ calculation using STATA 16

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