Table 2 The effect of financial... | Emerald Publishing

Table 2

The effect of financial inclusion on annual turnover: RIF regression output

	OLS	RIF(q10)	RIF(q25)	RIF(q50)	RIF(q75)	RIF(q90)
MSME bank account	0.280***	−0.006	−0.006	0.345^***	0.262^***	0.131
MSME bank account	(4.46)	(−0.35)	(−0.44)	(6.96)	(8.36)	(1.24)
Save for business	0.178^***	−0.008	−0.008	0.223^***	0.200^***	−0.031
Save for business	(3.12)	(−0.56)	(−0.53)	(4.31)	(4.03)	(−0.33)
Formal saving	0.261^***	−0.014	−0.014	0.353^***	0.302^***	−0.030
Formal saving	(3.85)	(−0.66)	(−0.89)	(6.07)	(5.78)	(−0.25)
Informal saving	−0.034	−0.007	−0.007	0.158^***	0.110^*	−0.201
Informal saving	(−0.48)	(−0.36)	(−0.36)	(2.89)	(1.88)	(−1.45)
Stokvel	0.003	−0.013	−0.013	0.117^**	0.067^*	−0.226^**
Stokvel	(0.05)	(−0.75)	(−1.02)	(2.32)	(1.66)	(−2.02)
Formal insurance	0.056	−0.078^***	−0.078^***	0.074	0.129^**	0.106
Formal insurance	(0.74)	(−4.14)	(−4.59)	(1.09)	(2.24)	(0.90)
No of observations	2583	2583	2583	2583	2583	2583
RIF (mean)		9.71	9.95	11.09	11.68	13.08

	OLS	RIF(q10)	RIF(q25)	RIF(q50)	RIF(q75)	RIF(q90)
MSME bank account	0.280***	−0.006	−0.006	0.345^***	0.262^***	0.131
MSME bank account	(4.46)	(−0.35)	(−0.44)	(6.96)	(8.36)	(1.24)
Save for business	0.178^***	−0.008	−0.008	0.223^***	0.200^***	−0.031
Save for business	(3.12)	(−0.56)	(−0.53)	(4.31)	(4.03)	(−0.33)
Formal saving	0.261^***	−0.014	−0.014	0.353^***	0.302^***	−0.030
Formal saving	(3.85)	(−0.66)	(−0.89)	(6.07)	(5.78)	(−0.25)
Informal saving	−0.034	−0.007	−0.007	0.158^***	0.110^*	−0.201
Informal saving	(−0.48)	(−0.36)	(−0.36)	(2.89)	(1.88)	(−1.45)
Stokvel	0.003	−0.013	−0.013	0.117^**	0.067^*	−0.226^**
Stokvel	(0.05)	(−0.75)	(−1.02)	(2.32)	(1.66)	(−2.02)
Formal insurance	0.056	−0.078^***	−0.078^***	0.074	0.129^**	0.106
Formal insurance	(0.74)	(−4.14)	(−4.59)	(1.09)	(2.24)	(0.90)
No of observations	2583	2583	2583	2583	2583	2583
RIF (mean)		9.71	9.95	11.09	11.68	13.08

Note(s): NB. The t-statistics are in parenthesis, *, **, *** represent 10%, 5% and 1% respectively

Source(s): By authors