Local digital lending development and the incidence of deprivation in Kenya

Financial Innovation

Table 11 First stage regression (OLS)

	(1)
	Local digital lending development
Log of reported death	0.077***
	(0.001)
Log total size	0.019***
	(0.001)
Log extreme poverty	0.073***
	(0.002)
Log of GCP per capita	0.084***
	(0.003)
Ave distance MM	− 0.028***
	(0.002)
Constant	− 1.075***
	(0.041)
Year dummy	Yes
Observations	16,778
R-squared	0.598

All variables are regional-level covariates. Robust standard errors in parentheses
***p < 0.01, **p < 0.05, *p < 0.1