Difference-in-Difference Estimates for the Effect of Mobile Money on Per Capita Expenditure by Household Wealth Quintiles
| Dependent Variable: Per Capita Expenditure (ln) | |||||
|---|---|---|---|---|---|
| Variables | Quintile 1 | Quintile 2 | Quintile 3 | Quintile 4 | Quintile 5 |
| (1) | (2) | (3) | (4) | (5) | |
| Mobile money | −0.146 (0.262) | −0.093 (0.241) | −0.081 (0.216) | 0.294 (0.207) | −0.428* (0.244) |
| Rainfall shock | 0.108** (0.048) | −0.024 (0.039) | 0.010 (0.043) | −0.025 (0.032) | 0.015 (0.041) |
| Interaction (MM × RS) | −0.376** (0.183) | 0.040 (0.145) | −0.017 (0.143) | 0.125 (0.143) | −0.050 (0.132) |
| Overall effect | −0.268* (0.143) | 0.016 (0.113) | −0.007 (0.105) | 0.100 (0.118) | −0.035 (0.096) |
| Household fixed effects | Yes | Yes | Yes | Yes | Yes |
| Year fixed effects | Yes | Yes | Yes | Yes | Yes |
| Controls | Yes | Yes | Yes | Yes | Yes |
| Observations | 674 | 688 | 676 | 710 | 700 |
| R-squared | 0.143 | 0.167 | 0.176 | 0.134 | 0.115 |
↵Notes: The entries present the coefficients from the DiD coefficients of mobile money, rainfall shock, and their interaction term on the log amount per capita expenditure by wealth quintiles. We use asset-holding details from the 2012 wave. The 2012 survey questionnaire reports two measures for each household asset, the purchase price (when it was bought) and the market price during the time of the interview. We construct current nonagricultural wealth across households by weighing each household asset using the average price between the two asset prices. We then proceed to sum up the worth of each asset holding to measure nonagricultural asset index of the household and produce quintiles of household asset wealth. See notes in Table 3 (Column 2) for the specification and the set of controls used in the estimation. Robust standard errors, clustered at the enumeration area, are reported in parentheses. Significance: p < 0.10, **p < 0.05, ***p < 0.01.