Table 3 Marginal effects of financial...

Table 3

Marginal effects of financial inclusion on business development measure

Marginal effects (ME)	Most developed businesses	Emerging businesses	Least developed businesses
MSME with a formal bank account	0.151^***	0.100^***	−0.251^****
Save money for business purposes	0.074^***	0.127^***	−0.201^***
Stokvel saving scheme for business	−0.009	0.118^***	−0.109^***
Informal saving vs formal saving	−0.106^***	−0.081^***	0.187^***
Not saving vs formal saving	−0.105^***	−0.235^***	0.341^***
Not saving vs informal saving	0.001	−0.155^***	0.154^***
Formal insurance	0.083^***	0.152^***	−0.236^***
No. of observations	2,894	2,894	2,894

Marginal effects (ME)	Most developed businesses	Emerging businesses	Least developed businesses
MSME with a formal bank account	0.151^***	0.100^***	−0.251^****
Save money for business purposes	0.074^***	0.127^***	−0.201^***
Stokvel saving scheme for business	−0.009	0.118^***	−0.109^***
Informal saving vs formal saving	−0.106^***	−0.081^***	0.187^***
Not saving vs formal saving	−0.105^***	−0.235^***	0.341^***
Not saving vs informal saving	0.001	−0.155^***	0.154^***
Formal insurance	0.083^***	0.152^***	−0.236^***
No. of observations	2,894	2,894	2,894

Note(s): Pseudo R-Squared (average) 0.36

Wald test, χ²(16) (average) 18.7

Prob > χ² (average) 0.41

*, **, *** represent 10%, 5% and 1% respectively

Source(s): By authors

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