Table 11 Bivariate probit; remittance use equations
From: Financial development and the end-use of migrants' remittances
| Â | (1) | (2) | (3) |
|---|---|---|---|
Dependant variable | Assets | Production | Consumption |
Banked | -0.699*** | -0.532 | -0.341 |
| Â | (0.252) | (0.465) | (0.771) |
Log (avg. monthly remittance) | 0.172*** | 0.260*** | 0.070 |
| Â | (0.066) | (0.088) | (0.144) |
Urban area | 0.041 | 0.037 | 0.343 |
| Â | (0.174) | (0.312) | (0.420) |
Children in household | -0.603** | -0.183 | 0.765*** |
| Â | (0.248) | (0.276) | (0.252) |
Education 6 to 8Â years | 0.110 | 0.245 | -0.336* |
| Â | (0.163) | (0.202) | (0.174) |
Education 9 to 11Â years | -0.069 | 0.464** | -0.254* |
| Â | (0.161) | (0.214) | (0.149) |
Education > 11 years | 0.259 | 0.506* | -0.405 |
| Â | (0.315) | (0.306) | (0.398) |
Age of household head | 0.002 | 0.013 | -0.011 |
| Â | (0.008) | (0.012) | (0.010) |
Household size | 0.002 | 0.088** | -0.046 |
| Â | (0.034) | (0.038) | (0.033) |
# of employed HH members | -0.078 | -0.088 | 0.209*** |
| Â | (0.073) | (0.081) | (0.073) |
Constant | -0.641 | -3.963*** | -1.421 |
| Â | (0.507) | (0.860) | (1.044) |
Wald test of exogeneity | 0.358** | 0.089 | 0.097 |
Rho | (0.138) | 0.288 | 0.466 |
N | 820 | 820 | 820 |
Prob > F | 0.000 | 0.000 | 0.004 |