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Financial Innovation

Table 1 Mobile phones used to send money, inequality and women in politics and business

From: Mobile money innovations, income inequality and gender inclusion in sub-Saharan Africa

 

Women in politics

Women in business

 

OLS

Q.10

Q.25

Q.50

Q.75

Q.90

OLS

Q.10

Q.25

Q.50

Q.75

Q.90

Constant

59.457***

43.114***

53.120***

62.314***

64.483***

69.079***

56.477***

36.943***

51.332***

59.385***

61.847***

68.799***

 

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

Gini

 − 0.067***

 − 0.039*

 − 0.063**

 − 0.042***

 − 0.068

 − 0.067

 − 0.268***

 − 0.247***

 − 0.248***

 − 0.315***

 − 0.261***

 − 0.239***

 

(0.000)

(0.085)

(0.012)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

Mobsen

0.022

0.307***

0.149*

0.065**

 − 0.012

 − 0.049

 − 0.108

 − 0.169

 − 0.266***

 − 0.142**

0.0003

0.034

 

(0.423)

(0.000)

(0.056)

(0.038)

(0.785)

(0.350)

(0.135)

(0.172)

(0.009)

(0.030)

(0.996)

(0.785)

Gini × Mobsen

0.0008*

 − 0.0007

0.00004

0.00008

0.0008

0.001

0.002*

0.004**

0.004***

0.001

 − 0.001

0.001

 

(0.074)

(0.541)

(0.791)

(0.875)

(0.284)

(0.167)

(0.087)

(0.043)

(0.006)

(0.143)

(0.435)

(0.525)

FinInDepth

3.007**

19.704***

3.408

4.097***

3.253*

0.330

18.107***

 − 1.633

23.172***

28.282***

23.927***

12.649***

 

(0.038)

(0.000)

(0.237)

(0.000)

(0.051)

(0.866)

(0.000)

(0.721)

(0.000)

(0.000)

(0.000)

(0.007)

FinInAccess

 − 11.305***

 − 77.524***

 − 3.183

 − 0.646

 − 3.452*

 − 5.796**

24.158***

20.421***

31.454***

23.884***

14.741***

20.534***

 

(0.000)

(0.000)

(0.360)

(0.645)

(0.086)

(0.014)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

FinInEffic

 − 4.990***

3.412*

 − 3.034

 − 8.325***

 − 5.614***

 − 5.802***

11.339***

13.333***

7.457***

11.597***

15.497***

16.196***

 

(0.000)

(0.059)

(0.135)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.005)

(0.000)

(0.000)

(0.000)

Inflation

0.0006***

0.0009*

0.0007

0.0005**

0.0007**

0.002***

 − 0.001***

 − 0.003***

 − 0.001**

 − 0.0008

 − 0.0009

 − 0.001*

 

(0.000)

(0.086)

(0.226)

(0.040)

(0.032)

(0.000)

(0.000)

(0.002)

(0.038)

(0.114)

(0.127)

(0.098)

Foreign aid

 − 0.007

0.007

 − 0.008

 − 0.066***

 − 0.056***

 − 0.107***

0.071***

0.121**

0.027

0.060**

0.065*

 − 0.019

 

(0.600)

(0.790)

(0.794)

(0.000)

(0.004)

(0.000)

(0.002)

(0.024)

(0.534)

(0.034)

(0.066)

(0.719)

Gov. Exp

0.004

0.013

 − 0.0006

 − 0.003

0.010

0.022**

0.041**

0.037*

0.031*

0.059***

0.113***

0.012

 

(0.308)

(0.293)

(0.763)

(0.529)

(0.212)

(0.020)

(0.014)

(0.097)

(0.094)

(0.000)

(0.000)

(0.584)

GDPg

0.083***

0.012

0.133*

0.087***

0.044

0.010

0.239***

0.058

0.226**

0.190***

0.303***

0.426***

 

(0.009)

(0.846)

(0.062)

(0.002)

(0.278)

(0.830)

(0.000)

(0.609)

(0.015)

(0.002)

(0.000)

(0.000)

FDI

0.110***

0.031

0.034

0.075***

0.059

 − 0.034

0.200***

0.056

0.200**

0.144***

0.436***

0.296***

 

(0.005)

(0.560)

(0.565)

(0.002)

(0.088)

(0.402)

(0.000)

(0.557)

(0.011)

(0.004)

(0.000)

(0.002)

Remit

 − 0.038***

 − 0.007

 − 0.019

 − 0.031***

 − 0.052***

 − 0.063***

 − 0.105***

 − 0.069**

 − 0.106***

 − 0.114***

 − 0.111***

 − 0.129***

 

(0.000)

(0.689)

(0.372)

(0.000)

(0.000)

(0.000)

(0.000)

(0.047)

(0.000)

(0.000)

(0.000)

(0.000)

Trade

0.038***

0.053***

0.045***

0.019***

0.048***

0.053***

0.019**

0.062***

0.002

0.010

0.010

0.022

 

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.000)

(0.046)

(0.001)

(0.895)

(0.332)

(0.414)

(0.265)

Net Effects

 − 0.058

na

na

na

na

na

 − 0.247

 − 0.205

 − 0.206

na

na

na

Thresholds

83.750

na

na

na

na

na

134.000

61.750

62.000

na

na

na

R2/Pseudo R2

0.100

0.151

0.083

0.081

0.084

0.127

0.346

0.151

0.160

0.257

0.253

0.217

Fisher

21.75***

     

77.64***

     

Observations

1680

1680

1680

1680

1680

1680

1680

1680

1680

1680

1680

1680

  1. R2 for OLS and Pseudo R2 for quantile regression. Lower quantiles (e.g., Q 0.1) signify nations where women in politics and women in business are least
  2. The mean value of the mobile used to send money is 10.280. na: not applicable because at least one estimated coefficient needed for the computation of the net effect and/or threshold is not significant. The pseudo-R-squared employed is the Koenker and Machado's
  3. Gini Income Inequality, MobSend Mobile phones used to send money, FinInDepth Financial Institutions Depth, FinInAcc Financial Institutions Access, FinInEffic Financial Institutions Efficiency. Gov. Exp Government Expenditure, GDPg Gross Domestic Product growth, FDI Foreign Direct Investment, Remit Remittances
  4. *,**,***Significance levels of 10%, 5% and 1% respectively. OLS: Ordinary Least Squares
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