Table 5 Measurement and expected sign of explanatory variables on financial inclusion measures.
Variables | Measurement | Hypothesized / expected coefficient |
|---|---|---|
Female | Dummy that takes the value 1 if the respondent is female and 0 otherwise | - |
Age | Age of the respondent in years | + |
Age squared | Age of the respondent in years, squared | - |
Primary education | Dummy that takes the value 1 if the respondent completed elementary education or less (up to 8 years of education) and 0 otherwise | - |
Secondary education | Dummy that takes the value 1 if the respondent completed secondary education and some education beyond secondary education (9–15 years of education) and 0 otherwise | + |
Tertiary education | Dummy that takes the value 1 if the respondent completed four years of education beyond high school and/or received a 4-year college degree and 0 otherwise | + |
Income: richest 20% | Dummy that takes the value 1 if the respondent falls in the highest income quintile and 0 otherwise. Income quintiles are based on the incomes of the respondents in a country | + |
Income: fourth 20% | Dummy that takes the value 1 if the respondent falls in the second highest income quintile and 0 otherwise. Income quintiles are based on the incomes of the respondents in a country | + |
Income: middle 20% | Dummy that takes the value 1 if the respondent falls in the middle income quintile and 0 otherwise. Income quintiles are based on the incomes of the respondents in a country | + |
Income: second 20% | Dummy that takes the value 1 if the respondent falls in the second lowest income quintile and 0 otherwise. Income quintiles are based on the incomes of the respondents in a country | - |
Income: poorest 20% | Dummy that takes the value 1 if the respondent falls in the lowest income quintile and 0 otherwise. Income quintiles are based on the incomes of the respondents in a country | - |
Individuals in workforce | Dummy equal to 1 if the respondent is in the workforce and 0 otherwise | + |
Individuals out of workforce | Dummy equal to 1 if the respondent is out of the workforce and 0 otherwise | - |