Financial development and the end-use of migrants' remittances

IZA Journal of Labor & Development

Table 10 Bivariate probit model; bank presence equation

	(1)	(2)	(3)
	Assets	Production	Consumption
Log (avg. monthly remit.)	-0.114	-0.100	-0.095
	(0.075)	(0.071)	(0.076)
Urban area	0.332	0.318	0.325
	(0.542)	(0.554)	(0.550)
Children in household	0.196	0.209	0.216
	(0.225)	(0.211)	(0.217)
Education 6 to 8 years	-0.242**	-0.237*	-0.251*
	(0.122)	(0.129)	(0.147)
Education 9 to 11 years	-0.489***	-0.494***	-0.501***
	(0.138)	(0.134)	(0.142)
Education > 11 years	-0.296*	-0.358**	-0.368**
	(0.177)	(0.171)	(0.174)
Age of household head	0.002	0.002	0.001
	(0.009)	(0.009)	(0.009)
Household size	0.058	0.054	0.054
	(0.042)	(0.044)	(0.044)
# of employed HH members	0.020	0.015	0.017
	(0.055)	(0.049)	(0.051)
GDP 2000	0.001***	0.001***	0.001***
	(0.000)	(0.000)	(0.000)
Pop. density	-0.000	-0.000	-0.000
	(0.000)	(0.000)	(0.000)
Indigenous pop. share	2.758	2.798	2.812
	(1.795)	(1.832)	(1.853)
Avg. yrs. of schooling	-0.208	-0.214	-0.199
	(0.263)	(0.282)	(0.318)
Share receiving remittances	0.127***	0.130***	0.131***
	(0.044)	(0.043)	(0.044)
Distance to Mexico City	-0.003***	-0.003***	-0.003***
	(0.001)	(0.001)	(0.001)
Distance to modern rail system	0.006**	0.006**	0.005*
	(0.003)	(0.003)	(0.003)
Distance to 1920 rail	-0.001	-0.001	-0.001
	(0.000)	(0.001)	(0.001)
Constant	-0.761	-0.710	-0.768
	(1.560)	(1.634)	(1.655)

Standard errors clustered at community level in parentheses.
*p < 0.10, **p < 0.05, ***p < 0.01.
Education coefficients relative to baseline group with less than 6 years education.