Table 6 Estimated long-run coefficients
From: Do migrant remittances matter for financial development in Kenya?
Independent variables×× | Coefficient (The dependent variable is credit to the private sector to GDP) | Coefficient (The dependent variable is Value of mobile transactions) | Coefficient (The dependent variable is Number of mobile agents) | Coefficient (The dependent variable is Number of mobile transactions) | Coefficient (Number of bank accounts) |
|---|---|---|---|---|---|
RGDP | 0.6069 (4.61)*** | 7.15E-07 (0.17) | 0.0129 (0.63) | 0.0414 (1.36) | 0.7153 (8.12)*** |
Topen | 2.3219 (2.14)** | 5.469 (0.56) | 2.5584 (2.70)*** | 3.1390 (2.44)** | 0.5784 (5.86)*** |
ER | 0.0142 (4.50)*** | 5.28 (1.82)* | 5.3733 (3.46)*** | 0.0766 (2.70)** | −0.2202(−1.14) |
CPI | −0.0008(−0.24) | 0.0322 (1.00) | −0.0665(−3.18)*** | −0.0378(− 1.21) | −0.0008(−0.29) |
Int | 0.0454 (3.44)*** | −2.653(−2.93)*** | − 0.9905(− 1.56) | − 0.149(− 1.90)** | 0.0106 (0.11) |
Rem | 0.5416 (5.30)*** | 2.293 (2.43)** | 1.4333 (2.93)*** | 1.3524 (2.02)** | 0.2700 (3.81)*** |
R 2 | 0.97 | 0.81 | 0.91 | 0.84 | 0.95 |