How does financial literacy impact on inclusive finance?

Financial Innovation

Table 6 Regression result of banking access and financial literacy.

This model presents the association between financial literacy and banking access. Part A of the logit model shows − 82.60 log-likelihood, LR chi² (5) is 977.61, and model fits at 85.54% Pseudo R² value; where part B shows − 61.84 log-likelihood, LR chi² (8) is 1019.12, and model fits at 89.18% Pseudo R² value. On the other hand, Part A of the Probit model shows − 83.57 log-likelihood, LR chi² (5) is 975.66, and the model fits at 85% Pseudo R² value; where part B shows − 62.88 log-likelihood, LR chi² (8) is 1017.04, and model fits at 89% Pseudo R² value. The value of Prob > chi² is 0 for all models, and the observation of A & B is 852. ***, **, * refer significance level at 99%, 95%, 90%, respectively. The value within the first bracket is the standard error value