Skip to main content

Advertisement

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
  1. For all the coefficients the t-statistics are in parenthesis; *, **, *** shows the standard way of indicating statistical significance levels at 10%, 5% and 1% significance levels, respectively. × × RGDP GDP, Int deposit interest rate, CPI inflation, ER Exchange rate, Topen trade openness, Rem total remittances