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Table 12 IV probit first-stage estimates; dependant variable: branches per 10 k residents

From: Financial development and the end-use of migrants' remittances

  (1) (2) (3)
  Assets Production Consumption
Log (avg. monthly remit.) -0.026 -0.025 -0.032
  (0.017) (0.017) (0.024)
Urban area 0.381** 0.381** 0.348**
  (0.151) (0.155) (0.153)
Children in household -0.076 -0.085 -0.046
  (0.083) (0.084) (0.096)
Education 6 to 8 years -0.031 -0.030 -0.041
  (0.043) (0.043) (0.041)
Education 9 to 11 years -0.249** -0.243** -0.280**
  (0.114) (0.113) (0.142)
Education > 11 years -0.135 -0.120 -0.166
  (0.108) (0.101) (0.142)
Age of household head -0.008** -0.008** -0.008**
  (0.004) (0.004) (0.004)
Household size -0.042** -0.041** -0.047**
  (0.020) (0.020) (0.020)
# of employed HH members -0.042 -0.046 -0.035
  (0.039) (0.041) (0.035)
GDP 2000 0.000 0.000** 0.000
  (0.000) (0.000) (0.000)
Pop. density 0.000*** 0.000*** 0.000**
  (0.000) (0.000) (0.000)
Indigenous pop. share -1.184* -1.225* -1.146*
  (0.655) (0.629) (0.696)
Avg. yrs. of schooling 0.088 0.084 0.152
  (0.126) (0.125) (0.156)
Share receiving remittances 0.074*** 0.075*** 0.079***
  (0.023) (0.023) (0.022)
Distance to Mexico City -0.001* -0.001** -0.001**
  (0.000) (0.000) (0.000)
Distance to modern rail system 0.002*** 0.002*** 0.002***
  (0.001) (0.001) (0.001)
Distance to 1920 rail -0.000 -0.000 -0.000
  (0.000) (0.000) (0.000)
Constant 0.176 0.142 0.132
  (0.892) (0.904) (0.823)
  1. Standard errors clustered at community level in parentheses.
  2. *p < 0.10, **p < 0.05, ***p < 0.01.
  3. Education coefficients relative to baseline group with less than 6 years education.