Skip to main content
Financial Innovation

Table 2 Predictors of time to mobile money adoption (survival analysis)

From: Digital financial services adoption: a retrospective time-to-event analysis approach

Variable

Survival model (1)

Survival model: Rural (2)

Survival model: Urban (3)

Hazard ratio

Standard error

Hazard ratio

Standard error

Hazard ratio

Standard error

Urban

1.70482***

0.146464

–

–

–

–

Male

1.022543

0.066106

1.049657

0.099884

1.03052

0.093024

Age group. Ref = 29–36 years

 36–65 years

1.248937***

0.094524

1.440998***

0.184692

1.134404

0.110057

 66+ years

1.079563

0.148393

1.198668

0.23396

1.083009

0.223095

Level of education. Ref = Primary education

 Secondary education

1.448753***

0.132215

1.422884***

0.161305

1.315541*

0.2046

 Tertiary education

1.923563***

0.227359

2.132726***

0.417369

1.670237***

0.294863

Financial planning. Ref = did not plan/budget

 Planned/budgeted accurately

1.312065**

0.154796

1.539646**

0.27018

1.160544

0.18767

 Neither planned/budgeted accurately nor inaccurately

1.265196**

0.162948

1.246362

0.246744

1.256165

0.217595

 Planned/budgeted inaccurately

1.202008

0.145944

1.270531

0.22703

1.093548

0.185466

Source of income. Ref = Unemployed/Student/Stay at home

 Formally Employed in Private or Government

1.207832*

0.117733

1.299332

0.222283

1.083844

0.140384

 Informally Employed in Private or Government

1.016836

0.133193

1.039514

0.235698

0.927633

0.155367

 Self-Employed Formally

1.552653**

0.293236

1.668576**

0.434886

1.537139*

0.425544

 Self-Employed Informally

1.365155***

0.11274

1.406277***

0.161838

1.267368*

0.150534

Income Ref: < 200

 201–500

1.037944

0.096152

0.8478

0.14024

1.165659

0.132983

 501-max

0.930242

0.074323

0.8911

0.102661

0.958077

0.109121

Banked

2.257794***

0.181409

2.769107

0.29733

1.773297

0.20974

Mobile money outlet. Ref =  > 60 min/ No infrastructure

 Less than 30 min

1.409451***

0.124571

1.553012***

0.198528

1.293536*

0.163601

 Between 31 and 60 min

1.257682**

0.12404

1.249658*

0.148006

1.232339

0.227997

Belong to informal group (savings, burial society etc.)

1.169142*

0.096090

1.105287

0.142432

1.231263*

0.134100

Real GDP Growth

1.346615***

0.021378

1.373313***

0.033093

1.331103***

0.028653

Harrell's C concordance statistic

0.7539

0.7364

0.6434

AUC

0.8711

0.8479

0.8489

Sample (n)

1800

1138

662

  1. For results presented in Table 2, the survival model considers adoption of mobile money as the event and time to adoption as the time variable. Columns 2 and 3 show the hazard ratios and standard errors from the main survival model with both and rural respondents. Columns 4 and 5 show the hazard ratios and standard errors from the survival model with only rural respondents whilst columns 6 and 7 present the same estimates for urban respondents. *p < 0.1; **p < 0.05; ***p < 0.01. Ref = reference category
Back to article page