(Luận văn) microcredit and welfare of the rural households in vietnam

MINISTRY OF EDUCATION AND TRAINING t to ng UNIVERSITY OF ECONOMICS HO CHI MINH CITY hi ep ***** w n lo ad ju y th Pham Tien Thanh yi pl n ua al n va MICROCREDIT AND WELFARE OF THE fu ll RURAL HOUSEHOLDS IN VIETNAM oi m at nh z z ht vb k jm PHD DISSERTATION IN ECONOMICS om l.c gm an Lu n va ey t re HO CHI MINH CITY, 2018 MINISTRY OF EDUCATION AND TRAINING t to UNIVERSITY OF ECONOMICS HO CHI MINH CITY ng hi ***** ep w n lo ad Pham Tien Thanh ju y th yi pl n ua al MICROCREDIT AND WELFARE OF THE n va RURAL HOUSEHOLDS IN VIETNAM ll fu m oi Major: Development Economics nh at Code: 9310105 z z ht vb k jm PHD DISSERTATION IN ECONOMICS om l.c Assoc Prof Dr NGUYEN HUU DUNG n a Lu Dr PHAM KHANH NAM gm ACADEMIC ADVISORS n va y te re HO CHI MINH CITY, 2018 i COMMITMENTS t to ng I hereby declare that this dissertation is my own work and it has not been hi ep previously submitted for a degree elsewhere While my work contains information from works done by other authors, all these references have been explicitly cited w n To the best of my knowledge, I would like to certify that the above statements are lo ad true ju y th The dissertation has been done under the supervision of Dr Pham Khanh Nam and Assoc.Prof.Dr Nguyen Huu Dung, the University of Economics, yi pl Hochiminh City This work was also done under the advice of Assoc.Prof.Dr al ua Katsuhiro Saito, the University of Tokyo during my fellowship period granted by n the World Bank Robert S McNamara at the University of Tokyo, Japan n va fu ll Pham Tien Thanh oi m at nh z z k jm ht vb om l.c gm an Lu n va ey t re ii ACKNOWLEDGEMENT t to ng I am deeply indebted to my academic supervisors Dr Pham Khanh Nam and hi ep Assoc.Prof.Dr Nguyen Huu Dung at the University of Economics Dr Nam and Assoc.Prof.Dr Dung have supported me a lot during my study They have also w n provided me with useful academic advice, valuable feedbacks, and encouragement lo ad I am also grateful to my academic advisor Assoc.Prof.Dr Katsuhiro Saito, ju y th who instructs me in applied econometrics, during my fellowship granted by the World Bank Robert S McNamara at the University of Tokyo yi pl I would also like to thank the academic committee at the University of al ua Economics and the two independent external reviewers who gave me a lot of useful n and precious comments, which thereby help me improve my dissertation va n I am also thankful to my lecturers who give me knowledge and advice on my fu ll dissertation I am particularly grateful to Assoc.Prof.Dr Pham Bao Duong, my m oi academic supervisor of master thesis, who encourage as well as support me with nh data and comments on my Ph.D dissertation at z I would also like to say thank to Mr Nguyen Khanh Duy at the University of z vb Economics for many of his advice on research methodology and encouragement jm ht Last but not least, I would like to express my deepest gratitude to my family, k colleagues, and friends for their encouragement and support during the time I om l.c gm conduct my Ph.D dissertation an Lu Pham Tien Thanh n va ey t re iii TABLE OF CONTENTS t to COMMITMENTS i ng ACKNOWLEDGEMENT ii hi ep TABLE OF CONTENTS iii ABBREVIATIONS viii w n LIST OF TABLES .ix lo ad LIST OF FIGURES xi ju y th CHAPTER - INTRODUCTION 1.1 Backgrounds yi pl 1.2 Research problems al ua 1.2.1 Accessibility to microcredit n 1.2.2 Microcredit and adoption of improved rice varieties va n 1.2.3 Impact of microcredit on households’ welfare fu ll 1.2.4 Microcredit and health shock m oi 1.3 Research objectives 10 nh 1.4 Scopes of research 11 at z 1.5 Research data 11 z vb 1.6 Research methods 11 jm ht 1.6.1 Quantitative methods 11 k 1.6.2 Qualitative methods 12 gm 1.7 Contribution of the research 12 l.c 1.7.1 Theoretical contributions 12 om 1.7.2 Practical contributions 13 an Lu 1.8 Organization of the research 14 2.1 Overview of microcredit 15 2.2 Theory 17 ey 2.1.2 Characteristics of microcredit 16 t re 2.1.1 Some definitions 15 n va CHAPTER – LITERATURE REVIEW 15 iv 2.2.1 Overview of rural credit market 17 t to 2.2.2 Asymmetric information 20 ng 2.2.3 Theories on accessibility to credit 23 hi ep 2.2.3.1 Theory of choice (Demand for credit) .23 2.2.3.2 Theory of credit rationing 24 w n 2.2.4 Theoretical framework of outreach of microcredit 27 lo ad 2.2.5 Farm household model under credit constraint 29 y th 2.2.5.1 Producer problem .29 ju 2.2.5.2 Consumer problem .30 yi pl 2.2.5.3 Worker problem 30 ua al 2.2.5.4 Farm household model with credit 31 n 2.3 Empirical studies 32 va n 2.3.1 Determinants of rural households’ accessibility to microcredit 32 fu ll 2.3.2 Impact of microcredit on adoption of the improved rice varieties 38 m oi 2.3.3 Impact of microcredit on living standard 40 at nh 2.3.3.1 Empirical studies in the world 40 2.3.3.2 Empirical studies in Vietnam .41 z z 2.3.4 Impact of health shocks and role of microcredit 44 vb jm ht 2.3.4.1 Impacts of health shocks 44 2.3.4.2 Strategies to cope with health shocks and role of microcredit 46 k l.c gm 2.4 Definitions of welfare 48 2.5 Logical framework of impact evaluation of microcredit on welfare 49 om CHAPTER – OVERVIEW OF MICROCREDIT 52 an Lu 3.1 Microcredit in the world 52 3.2 Microcredit in rural Vietnam 54 ey 3.2.3 Poverty reduction role of microcredit 61 t re 3.2.2 Credit activities and clients 59 n va 3.2.1 Microcredit providers 54 v CHAPTER – DETERMINANTS OF ACCESSIBILITY TO MICROCREDIT 62 t to 4.1 Research method 62 ng 4.1.1 Estimation strategy 63 hi ep 4.1.2 Selection of variables 65 4.1.2.1 Dependent variable 65 w n 4.1.2.2 Explanatory Variables 66 lo ad 4.1.3 Research hypotheses 68 y th 4.2 Research data 70 ju 4.2.1 Data source 70 yi pl 4.2.2 Research sample 71 ua al 4.2.3 Descriptive statistics 71 n 4.3 Results and discussions 74 va n CHAPTER – MICROCREDIT AND ADOPTION OF IMPROVED RICE fu ll VARIETIES 82 m oi 5.1 Research method 82 at nh 5.1.1 Estimation strategy 82 5.1.2 Selection of variables 86 z z 5.1.2.1 Dependent variables 86 vb jm ht 5.1.2.2 Independent variables 87 5.1.3 Research hypotheses 88 k l.c gm 5.2 Research data 88 5.2.1 Data source 88 om 5.2.2 Research sample 88 an Lu 5.2.3 Descriptive statistics 89 5.3 Results and discussions 91 6.1.1.1 Propensity Score Matching (PSM) 103 ey 6.1.1 Estimation strategy 103 t re 6.1 Research method 103 n va CHAPTER – IMPACT EVALUATION OF MICROCREDIT ON WELFARE 103 vi 6.1.1.2 Difference in Difference (DID) .105 t to 6.1.1.3 PSM-DID 105 ng 6.1.2 Selection of variables 107 hi ep 6.1.2.1 Microcredit variable 107 6.1.2.2 Variables for calculation of propensity score 107 w n 6.1.2.3 Welfare variables .108 lo ad 6.1.3 Research hypotheses 108 y th 6.2 Research data 109 ju 6.2.1 Data source 109 yi pl 6.2.2 Research sample 110 ua al 6.2.3 Descriptive statistics 110 n 6.3 Results and discussions 110 va n 6.3.1 Propensity score and balancing test 110 fu ll 6.3.2 Average impact of microcredit program 113 oi m CHAPTER – ROLE OF MICROCREDIT IN MITIGATING THE EFFECTS OF at nh HEALTH SHOCKS 121 7.1 Research method 121 z z 7.1.1 Estimation strategy 121 vb jm ht 7.1.2 Selection of variable 123 7.1.2.1 Dependent variables 123 k l.c gm 7.1.2.2 Health shocks variables 123 7.1.2.3 Microcredit variable 124 om 7.1.2.4 Other control (explanatory) variables 125 an Lu 7.1.3 Research hypotheses 126 7.2 Research data 126 7.3 Results and discussions 129 ey 7.2.3 Descriptive statistics 127 t re 7.2.2 Research sample 127 n va 7.2.1 Data source 126 vii 7.3.1 Are health shocks unanticipated? 129 t to 7.3.2 First stage results using instrumental variables 130 ng 7.3.3 Illness/ Disease/ Injury of working-age members (HS1W) 133 hi ep 7.3.4 Illness/ Disease/ Injury of any members (HS1A) 136 CHAPTER – CONCLUSIONS 138 w n 8.1 Objective 1: Determinants of accessibility to microcredit 138 lo ad 8.1.1 Summary 138 y th 8.1.2 Policy implications 139 ju 8.1.3 Limitations and further studies 141 yi pl 8.2 Objective 2: Microcredit and adoption of improved varieties 142 ua al 8.2.1 Summary 142 n 8.2.2 Policy implications 143 va n 8.2.3 Limitations and further studies 144 fu ll 8.3 Objective 3: Impact evaluation of microcredit on welfare 145 m oi 8.3.1 Summary 145 at nh 8.3.2 Policy implications 146 8.3.3 Limitations and further studies 147 z z 8.4 Objective 4: Role of microcredit in mitigating the effects of health shocks 148 vb jm ht 8.4.1 Summary 148 8.4.2 Policy implications 149 k l.c gm 8.4.3 Limitations and further studies 149 REFERENCE 150 om Reference in the world 150 an Lu Reference in Vietnam 167 Websites 171 n va APPENDICES 172 ey t re viii ABBREVIATIONS t to ng hi ep Meanings MF Microfinance MFIs Microfinance Institutions PCFs People’s Credit Funds Abbr w n Rotating Savings Credit Associations lo ROSCAs ad VBSP Vietnam Bank for Social Policies y th yi VPSC Vietnam Bank for Agriculture and Rural Development ju VBARD Postal Savings Company pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm an Lu n va ey t re 214 APPENDIX 7.1 (cont) t to CODE Variable PANEL 2: Other control variables MARI Marital Status of HHH ng hi ep w GENDER GRAD ETHI SIZE SFEM SAGE1 n lo ad Gender of HHH Education of HHH Ethnic of HHH Household size Female members Children members ju y th Elderly members yi SAGE3 Description pl Land for cultivation and raising aquaculture LAND2 Total land POOR HOME INSU Poverty status Private house Insurance card n ua al LAND1 n va ll fu oi m z ht vb Dummy (1=Yes; 0=Otherwise) Dummy (1=Yes; 0=Otherwise) Dummy (1=Yes; 0=Otherwise) k jm l.c gm Dummy (1=Yes; 0=Otherwise) om Dummy (1=Yes; 0=Otherwise) Dummy (1=Yes; 0=Otherwise) Dummy (1=Yes; 0=Otherwise) an Lu n va Commune of program 135 Remote commune Commune accessible by allweather road IMARK Market within commune REGI1 Red River Delta region; REGI2 Midlands and Northern Mountainous Areas REGI3 Northern and Coastal Central Region REGI4 Central Highlands REGI5 Southeast REGI6 Mekong Delta Note: Dummies are in italic z CO135 COFAR ROAD at nh Dummy (1=Married; 0=single, widow, divorced) Dummy (1=Male; 0=Female) Grade completed (from to 12) Dummy (1=Kinh; 0=Otherwise) Number of members Number of female members Number of members less than or equal to 14 years old Number of members above or equal to 61 years old Total area of land used for cultivation and water surface used for raising aquaculture (Hectare) Total area of land used or managed by households (Hectare) Dummy (1=Poor, 0=Non-poor) Dummy (1=Own; 0=Renting) Number of Insurance Card possessed by households Dummy (1=Yes; 0=Otherwise) Dummy (1=Yes; 0=Otherwise) Dummy (1=Yes; 0=Otherwise) ey t re 215 APPENDIX 7.2 t to Unanticipation of health shocks ng HS1W in 2012 (HS1Wt) 0.142*** 0.207*** (5.343) (8.434) HS1W in 2010 (HS1Wt-1) HS1A in 2012 (HS1At) hi ep HS1A in 2010 (HS1At-1) MARI w n GENDER lo ad ETHI y th GRAD ju SIZE yi SFEM pl ua al SAGE12 SAGE6 n n va LAND1 n ey t re Robust t-statistics in parentheses *** indicates that the coefficients are significant at 1% va Note: an Lu VFE Observations om Constant 0.209*** (10.44) 0.0441* (1.733) 0.00530 (0.225) 0.0631*** (2.628) -0.00261 (-1.175) 0.00688 (0.825) 0.0219** (2.153) -0.00546 (-0.594) 0.0100 (0.919) 0.0192 (1.523) -0.00465 (-0.587) 0.0642 (1.212) 0.00603 (0.295) 0.0142** (2.387) -0.0114 (-0.480) -0.0538** (-2.421) 0.000793 (0.0298) 0.00157 (0.106) -0.00529 (-0.243) 0.0294 (1.467) 0.0711** (2.042) 0.0598** (1.984) 0.213*** (8.343) -0.136** (-2.024) Without 3,021 l.c REGI6 gm REGI5 k REGI4 jm REGI3 ht REGI2 vb IMARK z ROAD z COFAR at CO135 nh ISURE m POOR ll HOME fu LAND2 0.0145 (0.851) 0.0140 (0.837) 0.0331* (1.930) -0.00199 (-1.181) 0.0203*** (3.095) 0.0180** (2.239) -0.0511*** (-7.205) -0.0601*** (-8.997) 0.0184* (1.803) -0.00244 (-0.404) 0.0514 (1.596) -0.00664 (-0.474) 0.0105** (2.189) -0.00745 (-0.431) -0.0282* (-1.680) -7.42e-05 (-0.00347) -0.00531 (-0.477) -0.0190 (-1.225) 0.00414 (0.280) -0.00532 (-0.225) 0.00539 (0.248) 0.0931*** (4.822) -0.0897** (-2.000) Without 3,021 oi 0.0104 (0.496) 0.0129 (0.652) 0.00979 (0.308) -0.000878 (-0.397) 0.0274*** (3.791) 0.00969 (1.119) -0.0453*** (-5.408) -0.0703*** (-7.359) 0.00264 (0.256) -0.00125 (-0.248) 0.0358 (1.009) -0.0177 (-0.992) 0.00759 (1.314) 0.0681 (0.393) 0.0897 (0.631) -0.0970 (-0.597) -0.573 (-1.436) 0.634 (1.537) 1.400*** (3.450) 1.061** (2.012) 0.494 (1.271) 0.445 (1.072) -0.0552 (-0.316) With 3,021 0.103*** (4.167) 0.0448 (1.439) -0.00658 (-0.232) 0.0863 (1.515) -0.000584 (-0.209) 0.0166* (1.726) 0.00930 (0.791) 0.00553 (0.524) 0.0244* (1.853) -0.000811 (-0.0608) -0.00249 (-0.389) 0.0546 (0.825) 0.00307 (0.129) 0.0114 (1.480) -0.706 (-1.160) 0.359 (1.110) 0.419 (0.809) -0.402 (-0.916) 0.394 (0.880) 1.338*** (2.976) 0.746 (1.185) 0.348 (0.559) 0.881 (1.294) -0.751 (-1.429) With 3,021 ad ju y th yi pl 216 ua al n APPENDIX 7.3 va n First stage estimates using IV for HS1W fu an va n y te re 0.089 (0.94) 0.627 (1.05) -0.845* (-1.76) 0.381 (0.88) 0.102 (0.09) 0.119** (2.21) 0.476*** (3.08) -0.549** (-2.34) -0.231 (-1.15) -0.390* (-1.82) -0.059 (-0.21) 0.021 (0.08) 0.767 (1.23) 3.731*** (7.34) 0.070 (0.60) 0.002 (0.09) 1.036** (2.14) -0.467 (-1.12) 0.041 (0.11) -0.697 (-1.17) 0.103** (2.37) 0.276** (2.09) -0.227 (-1.14) -0.412** (-2.20) -0.628*** (-3.72) -0.796*** (-2.76) 0.572** (2.19) 1.204*** (3.90) 4.046*** (7.62) 0.141 (1.43) ac th si g e cd ISURE 1.041** (2.16) -0.470 (-1.13) 0.030 (0.08) -0.592 (-0.95) 0.103** (2.37) 0.277** (2.09) -0.219 (-1.10) -0.413** (-2.22) -0.620*** (-3.66) -0.793*** (-2.75) 0.566** (2.17) 1.181*** (3.77) 3.977*** (7.44) 0.136 (1.37) Lu POOR om HOME l.c LAND2 LAND1 gm SAGE6 0.627 (1.05) -0.845* (-1.76) 0.381 (0.88) 0.102 (0.09) 0.119** (2.21) 0.476*** (3.08) -0.549** (-2.34) -0.231 (-1.15) -0.390* (-1.82) -0.059 (-0.21) 0.021 (0.08) 0.767 (1.23) 3.731*** (7.34) 0.070 (0.60) k SAGE12 jm SFEM ht SIZE vb GRAD z ETHI z GENDER at MARI IV Model Model 3a Model 3b nh HS1W IV Model Model 2a Model 2b 3.649 1.062 (0.94) (0.73) oi Distance to Bank IV Model Model 1b 1.094 (0.75) -0.001 (-0.08) 1.041** (2.16) -0.469 (-1.13) 0.029 (0.08) -0.595 (-0.95) 0.103** (2.37) 0.277** (2.09) -0.220 (-1.11) -0.412** (-2.20) -0.620*** (-3.66) -0.793*** (-2.75) 0.567** (2.17) 1.181*** (3.77) 3.977*** (7.43) 0.136 (1.36) m ll Commune Poverty Rate Model 1a 13.660** (2.02) -0.244* (-1.70) 0.627 (1.05) -0.845* (-1.76) 0.381 (0.88) 0.102 (0.09) 0.119** (2.21) 0.476*** (3.08) -0.549** (-2.34) -0.231 (-1.15) -0.390* (-1.82) -0.059 (-0.21) 0.021 (0.08) 0.767 (1.23) 3.731*** (7.34) 0.070 (0.60) jg hg ad ju y th yi pl 217 ua al n CO135 n va COFAR IMARK oi m ll fu ROAD at nh REGI2 REGI3 z z REGI4 gm om l.c -0.202 (-0.36) 0.578 (1.28) 0.437 (1.13) -0.552** (-2.05) 1.508*** (3.06) 1.493*** (3.44) -0.290 (-0.64) -0.274 (-0.91) -0.236 (-0.83) -0.829 (-0.93) Without 3,021 0.54 0.4639 -4.414* (-1.71) 2.719** (2.05) 3.492* (1.73) -4.111* (-1.73) 4.509* (1.66) 0.707 (0.36) -2.592 (-1.24) 2.280 (0.75) 3.853 (1.62) -5.588** (-2.03) With 3,021 0.89 0.346 -0.057 (-0.11) 0.613 (1.36) 0.406 (1.05) -0.571** (-2.13) 1.577*** (3.19) 1.556*** (3.72) -0.271 (-0.59) -0.305 (-1.03) -0.234 (-0.82) -0.636 (-0.73) Without 3,021 0.1132 0.9248 an Lu Note: k VFE Observations F(i,df) for IVa Prob>F Test of overidentification restrictionsc,d jm Constant ht REGI6 vb REGI5 -3.318 (-1.58) 2.490** (1.99) 2.404* (1.89) -2.688* (-1.82) 2.764* (1.70) 1.649 (0.87) -3.212 (-1.58) -0.812 (-0.29) 2.652 (1.55) -4.432** (-2.31) With 3,021 0.89 0.346 -0.309 -0.198 (-0.12) (-0.36) 1.860 0.582 (1.44) (1.27) -0.583 0.431 (-0.28) (1.11) 1.218 -0.551** (0.52) (-2.05) -2.023 1.511*** (-0.71) (3.05) 4.234 1.494*** (1.53) (3.44) -4.916** -0.285 (-2.35) (-0.63) -9.297* -0.272 (-1.76) (-0.91) -0.642 -0.234 (-0.30) (-0.82) -1.260 -0.816 (-0.47) (-0.91) With Without 3,021 3,021 2.04 0.28 0.13 0.755 Chi2(2)=0.095 (p-value=0.758) va Robust t-statistics in parentheses; *, **, and ***: significant at 10%, 5% and 1%, respectively a F-test for H0: Week instruments If F-test > 10, reject H0, and vice versa c Overidentification test for H0: The instrument are valid, and vice versa d Since the IV 2SLS using VFE results in perfect multicollinearity between IVs and village dummies, only the overidentification test for model without VFE is conducted n y te re ac th si g e cd jg hg ad ju y th yi pl 218 ua al n APPENDIX 7.4 va n First stage estimates using IV for HS1A fu IV Model Model 2a Model 2b 5.723 1.072 (1.27) (0.74) oi m ll Commune Poverty Rate at HS1A nh Distance to Bank z n y te re 0.139 (1.27) 0.484 (1.16) -0.861* (-1.78) 0.393 (0.90) 0.064 (0.06) 0.119** (2.21) 0.487*** (3.17) -0.546** (-2.32) -0.267 (-1.32) -0.452** (-2.15) -0.056 (-0.20) 0.021 (0.08) 0.762 (1.22) 3.717*** (7.32) 0.069 (0.59) 0.001 (0.08) 0.633** (1.98) -0.481 (-1.16) 0.052 (0.14) -0.703 (-1.17) 0.104** (2.37) 0.297** (2.26) -0.220 (-1.11) -0.476** (-2.52) -0.712*** (-4.26) -0.787*** (-2.74) 0.572** (2.19) 1.212*** (3.90) 4.035*** (7.59) 0.143 (1.45) ac th g e cd ISURE va POOR an HOME 0.640** (2.01) -0.483 (-1.16) 0.041 (0.11) -0.597 (-0.95) 0.104** (2.38) 0.298** (2.26) -0.212 (-1.07) -0.477** (-2.54) -0.704*** (-4.20) -0.785*** (-2.73) 0.567** (2.18) 1.189*** (3.78) 3.965*** (7.41) 0.138 (1.38) Lu LAND2 om LAND1 l.c SAGE6 SAGE12 gm SFEM 0.484 (1.16) -0.861* (-1.78) 0.393 (0.90) 0.064 (0.06) 0.119** (2.21) 0.487*** (3.17) -0.546** (-2.32) -0.267 (-1.32) -0.452** (-2.15) -0.056 (-0.20) 0.021 (0.08) 0.762 (1.22) 3.717*** (7.32) 0.069 (0.59) k SIZE jm GRAD ht ETHI vb GENDER z MARI IV Model Model 3a Model 3b si IV Model Model 1a Model 1b 15.859** 1.110 (2.28) (0.76) -0.247* -0.002 (-1.72) (-0.10) 0.484 0.640** (1.16) (2.01) -0.861* -0.482 (-1.78) (-1.16) 0.393 0.040 (0.90) (0.11) 0.064 -0.600 (0.06) (-0.96) 0.119** 0.104** (2.21) (2.37) 0.487*** 0.298** (3.17) (2.26) -0.546** -0.212 (-2.32) (-1.07) -0.267 -0.476** (-1.32) (-2.52) -0.452** -0.704*** (-2.15) (-4.20) -0.056 -0.784*** (-0.20) (-2.73) 0.021 0.568** (0.08) (2.18) 0.762 1.188*** (1.22) (3.77) 3.717*** 3.965*** (7.32) (7.41) 0.069 0.138 (0.59) (1.38) jg hg ad ju y th yi pl 219 ua al n va COFAR IMARK oi m ll fu ROAD at nh REGI2 REGI3 z z REGI4 om l.c -0.201 (-0.36) 0.583 (1.29) 0.435 (1.13) -0.557** (-2.07) 1.495*** (3.03) 1.478*** (3.41) -0.344 (-0.76) -0.316 (-1.04) -0.281 (-0.97) -0.842 (-0.95) Without 3,021 0.55 0.4602 -4.837* (-1.82) 2.789** (2.05) 4.133* (1.94) -5.246** (-2.05) 5.834** (1.98) 0.546 (0.27) -1.934 (-0.97) 3.425 (1.09) 4.606* (1.91) -6.383** (-2.21) With 3,021 1.61 0.2053 -0.053 (-0.10) 0.618 (1.37) 0.403 (1.04) -0.577** (-2.14) 1.566*** (3.16) 1.542*** (3.69) -0.323 (-0.70) -0.346 (-1.16) -0.278 (-0.95) -0.645 (-0.74) Without 3,021 0.01 0.9351 an Lu Note: k VFE Observations F(i,df) for IVsa Prob>F Test of overidentification restrictionsc,d jm Constant ht REGI6 vb REGI5 -3.117 (-1.47) 2.429* (1.91) 2.426* (1.95) -3.013** (-2.11) 3.097* (1.94) 2.024 (1.18) -2.908 (-1.49) -1.426 (-0.50) 2.722 (1.63) -4.570** (-2.39) With 3,021 1.61 0.2053 gm -0.070 -0.196 (-0.03) (-0.35) 1.791 0.587 (1.36) (1.28) -0.598 0.427 (-0.29) (1.10) 0.941 -0.556** (0.40) (-2.06) -1.750 1.499*** (-0.61) (3.02) 4.640* 1.479*** (1.80) (3.40) -4.633** -0.338 (-2.26) (-0.74) -10.017* -0.314 (-1.90) (-1.04) -0.613 -0.279 (-0.28) (-0.96) -1.359 -0.827 (-0.51) (-0.92) With Without 3,021 3,021 2.61 0.29 0.0738 0.7495 Chi2(2)=0.107 (p-value=0.74) n CO135 va Robust t-statistics in parentheses; *, **, and ***: significant at 10%, 5% and 1%, respectively a F-test for H0: Week instruments If F-test > 10, reject H0, and vice versa c Overidentification test for H0: The instrument are valid, and vice versa d Since the IV 2SLS using VFE results in perfect multicollinearity between IVs and village dummies, only the overidentification test for model without VFE is conducted n y te re ac th si g e cd jg hg ad ju y th yi pl 220 ua al n APPENDIX 7.5 n va 0.0307 (0.888) -1.03e-06 (-0.000350) -0.0338 (-1.055) 0.00877 (0.303) 0.131* (1.878) 0.00184 (0.596) 0.0442*** (4.164) -0.0117 (-0.926) -0.00159 (-0.142) -0.0223 (-1.498) -0.0324* (-1.780) -0.00291 (-0.268) 0.0134 (0.165) -0.0228 (-0.799) 0.00817 (1.039) -0.00664 (-0.134) 0.00417 (0.926) -0.00548 (-0.115) -0.0103 (-0.241) -0.0793 (-0.996) 0.000931 (0.219) 0.0531*** (3.557) -0.0281 (-1.564) 0.0186 (1.186) -0.0195 (-0.976) -0.0336 (-1.485) 0.00443 (0.353) 0.00303 (0.0293) 0.0217 (0.526) 0.0133 (1.157) 0.0504 (0.735) 0.00696 (1.227) -0.0212 (-0.339) -0.0182 (-0.317) 0.187* (1.705) -0.00759 (-1.318) 0.0264 (1.351) -0.00748 (-0.310) 0.00864 (0.411) -0.0342 (-1.287) -0.0252 (-0.758) 0.0200 (0.948) 0.0138 (0.102) 0.00499 (0.0962) 0.0117 (0.797) 0.00764 (0.265) -0.00434 (-1.250) 0.0102 (0.513) 0.00369 (0.206) 0.0914 (1.624) 0.00116 (0.526) -0.0258*** (-3.420) -0.0125 (-1.390) 0.0755*** (7.085) 0.0218** (2.158) 0.0316** (1.963) -0.0186 (-1.340) -0.0200 (-0.342) -0.0309 (-1.219) 0.000626 (0.118) 0.104*** (2.842) -0.00527 (-1.269) 0.0427 (1.096) -0.0106 (-0.333) 0.00558 (0.0898) 0.00908*** (2.845) 0.0197* (1.724) -0.0301** (-2.154) -0.00280 (-0.233) 0.147*** (7.919) 0.00879 (0.526) -0.00148 (-0.134) -0.0643 (-0.774) -0.00490 (-0.148) -0.00728 (-0.926) 0.0898** (2.490) -0.00749* (-1.752) 0.0362 (1.099) 0.00622 (0.219) 0.0887 (1.485) 0.00681** (2.317) -0.00955 (-0.977) -0.0331*** (-2.821) 0.0516*** (4.072) 0.127*** (8.117) 0.0297 (1.601) -0.0119 (-0.791) -0.0735 (-1.112) -0.0182 (-0.554) -0.00800 (-1.056) an Lu va n y te re ac th si INSU 0.341*** (3.640) 0.000434 (0.0397) 0.152 (1.518) -0.0317 (-0.352) -0.00832 (-0.0368) -0.00675 (-0.741) -0.0178 (-0.579) -0.0245 (-0.672) 0.0194 (0.581) 0.0590 (1.408) 0.0532 (1.055) -0.0385 (-1.049) 0.181 (0.784) 0.0294 (0.340) 0.0292 (1.246) om POOR 0.0577 (0.690) -0.00703 (-0.862) -0.0602 (-0.715) -0.0571 (-0.730) 0.159 (0.978) 0.00475 (0.605) -0.0418 (-1.560) 0.0222 (0.708) 0.254*** (8.851) -0.0114 (-0.326) -0.0503 (-0.974) -0.0113 (-0.285) -0.173 (-0.941) -0.0980 (-1.421) 0.0325* (1.647) l.c HOME 0.117** (2.205) 0.00530 (1.196) 0.0419 (0.829) -0.0177 (-0.381) 0.116 (1.305) -0.0134*** (-2.857) -0.0404*** (-2.653) -0.00846 (-0.452) 0.000730 (0.0436) -0.0459** (-2.210) -0.00357 (-0.133) 0.0209 (1.238) 0.0913 (0.835) -0.0258 (-0.663) 0.0251** (2.151) LAND2 NWW gm LAND1 OLD k SAGE3 CHILD jm SAGE1 NCFA ht SFEM NCFD vb SIZE FCON z GRAD HCON z ETHI g e cd -0.0794* (-1.776) -0.00317 (-0.605) -0.00185 (-0.0448) 0.0723** (1.997) 0.169* (1.871) -0.00107 (-0.266) 0.0121 (0.889) -0.00145 (-0.0904) -0.0111 (-0.771) -0.0379** (-2.095) -0.0540** (-2.296) 0.0146 (1.054) 0.0567 (0.520) -0.0771** (-2.203) -0.00894 (-0.906) ECON at GENDER -0.0956* (-1.829) -0.00395 (-0.688) 0.0655 (1.362) 0.0744* (1.811) 0.161 (1.590) 0.00291 (0.617) 0.0658*** (4.055) -0.0274 (-1.532) -0.0226 (-1.373) -0.0388* (-1.690) -0.0591** (-2.309) 0.00512 (0.326) -0.102 (-0.771) -0.0695* (-1.678) -0.0230** (-2.108) TCON nh MARI TINC oi HS1W*CR (β2) EINC m ll HS1W (β1) fu VARIABLES Impact of HS1W and the Role of Microcredit – VFE jg hg ad ju y th yi pl 221 ua al 0.730 (0.677) -0.0593 (-0.0891) -0.458 (-0.833) 0.576 (0.990) 0.102 (1.026) -0.0285 (-0.446) 0.0362 (0.605) 0.0247 (0.339) 0.710 (1.087) -0.000100 (-0.00133) 0.00664 (0.0904) 0.518 (1.348) 0.781 (1.148) -0.0169 (-0.381) 0.0467 (1.075) 0.315 (1.337) -1.725 (-1.358) -2.497* (-1.816) -0.272 (-0.212) -0.595 (-0.400) -0.614 (-0.393) 0.0188 (0.0177) 3,021 -4.118*** (-3.366) -2.725** (-2.258) -2.510*** (-2.711) -3.338** (-2.375) -2.357 (-1.196) 0.118 (0.0598) 3,021 -0.500 (-0.961) -0.422 (-0.754) -0.204 (-0.420) -0.296 (-0.503) -0.921 (-1.621) 0.494 (1.217) 3,021 -0.0974 (-0.248) -0.537 (-1.436) 0.555 (0.909) 0.312 (0.609) -0.958* (-1.797) 0.796 (1.502) 3,021 -0.425 (-0.532) -0.340 (-0.378) -0.516 (-0.609) -0.342 (-0.345) -0.701 (-0.900) 0.0891 (0.154) 3,021 -0.0319 (-0.295) -0.0655 (-0.552) -0.560 (-0.868) -0.00371 (-0.0445) -0.0180 (-0.171) -0.0707 (-0.664) 3,021 -0.855 (-1.622) -0.579 (-1.454) -0.603 (-1.543) -0.548 (-1.413) -0.460 (-1.167) -0.122 (-1.166) 3,021 -0.645 (-1.497) -0.403 (-1.590) -0.493 (-1.403) -0.339 (-1.385) -0.272 (-1.095) -0.133 (-1.442) 3,021 k om l.c gm an Lu T-statistics in parentheses *, **, and ***: significant at 10%, 5% and 1%, respectively jm ht Observations Note: 0.983 (1.159) -0.586 (-1.159) -1.302*** (-2.637) 0.643*** (2.848) vb Constant 0.818** (2.034) -0.304** (-2.298) -0.759** (-2.214) 0.473 (1.140) z REGI6 -0.0251 (-0.0115) 0.328 (0.256) 0.299 (0.157) 1.985* (1.853) z REGI5 -1.209** (-2.391) -1.445** (-2.042) -0.986* (-1.691) -0.913 (-1.354) -2.030*** (-2.900) 1.359** (2.408) 3,021 0.575 (0.499) -0.756 (-1.462) 0.254 (0.247) 1.503 (1.206) at REGI4 -0.565 (-0.875) -0.667 (-0.867) -1.022 (-1.417) -0.938 (-1.272) -1.019 (-1.085) 0.224 (0.242) 3,021 nh REGI3 -0.118 (-0.157) -0.264 (-0.314) -0.811 (-0.981) -0.793 (-0.969) -0.714 (-0.713) 0.00334 (0.00336) 3,021 oi REGI1 is based REGI2 m ll IMARK 1.739** (2.236) -0.460 (-1.178) -1.169** (-2.213) 1.146*** (2.607) fu ROAD n COFAR 0.364 (0.449) -0.00440 (-0.0166) -0.109 (-0.158) 0.622*** (3.074) va 0.337 (0.396) 0.131 (0.406) -0.131 (-0.191) 0.518*** (3.014) n CO135 va n y te re ac th si g e cd jg hg ad ju y th yi pl 222 ua al n APPENDIX 7.6 va n Impact of HS1W and the Role of Microcredit – Without VFE 0.0413 (1.497) 0.000388 (0.218) -0.0257 (-0.840) 0.0107 (0.389) 0.0306 (1.103) -0.00236 (-0.976) 0.0362*** (3.971) -0.00992 (-0.921) 0.00215 (0.228) -0.0348*** (-2.699) -0.00596 (-0.432) -0.00887 (-0.915) 0.00314 (0.0487) -0.0198 (-0.819) 0.0142** (2.303) 0.0230 (0.638) 0.00598* (1.817) -0.0465 (-1.124) 0.00219 (0.0591) 0.0268 (0.625) -2.68e-05 (-0.00787) 0.0431*** (3.453) -0.00823 (-0.547) 0.0248* (1.854) -0.0274 (-1.606) -0.00841 (-0.467) -0.00538 (-0.416) -0.0438 (-0.507) 0.0161 (0.468) 0.0142 (1.556) 0.0740 (1.547) 0.00252 (0.681) 0.00857 (0.166) -0.0345 (-0.747) 0.123** (2.426) -0.00913** (-2.071) 0.0371** (2.319) -0.00685 (-0.344) 0.00159 (0.0908) -0.0469** (-2.101) -0.0190 (-0.763) 0.0140 (0.768) 0.0283 (0.265) 0.0321 (0.754) 0.00288 (0.268) -0.0165 (-0.705) -0.00189 (-0.603) -0.0104 (-0.638) -0.00199 (-0.144) 0.0176 (0.904) 0.00319* (1.720) -0.0213*** (-3.498) -0.0138* (-1.884) 0.0695*** (7.634) 0.0214*** (2.833) 0.00349 (0.297) -0.00625 (-0.647) 0.0279 (0.675) -0.0165 (-0.824) -0.00253 (-0.592) 0.0314 (1.238) -0.00428 (-1.474) 0.0628* (1.757) -0.0356 (-1.186) -0.0434 (-1.498) 0.00598** (2.368) 0.0115 (1.279) -0.0159 (-1.589) -0.00294 (-0.315) 0.119*** (7.253) -0.00814 (-0.591) 0.00419 (0.382) -0.0398 (-0.909) 0.00646 (0.245) -0.00512 (-0.850) 0.0223 (0.860) -0.00383 (-1.201) 0.0391 (1.400) -0.0223 (-0.928) -0.000564 (-0.0218) 0.00709*** (2.998) -0.0112 (-1.497) -0.0284*** (-3.323) 0.0490*** (4.966) 0.108*** (8.182) -0.00203 (-0.150) -0.00204 (-0.179) 0.00233 (0.0467) -0.00819 (-0.319) -0.00635 (-1.191) an Lu va n y te re ac th si INSU 0.412*** (6.485) 0.00832 (1.527) 0.123 (1.498) -0.0187 (-0.262) -0.0310 (-0.375) -0.00111 (-0.158) -0.00974 (-0.385) -0.0347 (-1.143) 0.0331 (1.186) 0.0633* (1.827) 0.0385 (1.066) -0.0568** (-2.149) -0.278 (-1.441) 0.0294 (0.425) 0.0359** (2.061) om POOR 0.0561 (0.865) -0.00538 (-0.673) -0.0404 (-0.613) -0.0453 (-0.736) -0.0338 (-0.526) 0.00686 (1.199) -0.0211 (-0.974) -0.0134 (-0.525) 0.249*** (10.59) -0.0152 (-0.562) -0.0536 (-1.547) -0.0201 (-0.781) 0.0862 (0.571) -0.0973* (-1.839) 0.0222 (1.526) l.c HOME 0.114*** (3.038) -0.00142 (-0.503) 0.0242 (0.600) 0.00682 (0.189) 0.0698* (1.774) -0.0107*** (-3.179) -0.0368*** (-3.005) -0.00257 (-0.169) -0.00304 (-0.228) -0.0472*** (-2.712) -0.00218 (-0.124) 0.00729 (0.613) 0.0171 (0.206) -0.00696 (-0.215) 0.0203** (2.449) LAND2 NWW gm LAND1 OLD k SAGE3 CHILD jm SAGE1 NCFA ht SFEM NCFD vb SIZE FCON z GRAD HCON z ETHI g e cd -0.0478 (-1.453) -0.00190 (-0.476) -0.00826 (-0.237) 0.0733** (2.397) 0.123*** (3.451) -0.00458 (-1.551) -0.0140 (-1.251) 0.0168 (1.289) -0.0164 (-1.371) -0.0479*** (-3.153) -0.0307* (-1.919) 0.00487 (0.560) -0.0160 (-0.222) -0.0556* (-1.943) 0.00219 (0.293) ECON at GENDER -0.0654* (-1.764) -0.00237 (-0.505) 0.0370 (0.891) 0.0670* (1.893) 0.123*** (3.095) -0.00216 (-0.618) 0.0338*** (2.640) -0.00646 (-0.455) -0.0261** (-1.992) -0.0652*** (-3.463) -0.0359** (-2.123) 0.00284 (0.310) -0.0758 (-0.848) -0.0454 (-1.307) -0.00410 (-0.498) TCON nh MARI TINC oi HS1W*CR (β2) EINC m ll HS1W (β1) fu VARIABLES jg hg ad ju y th yi pl 223 0.0136 (0.287) 0.0226 (0.559) 0.0203 (0.408) 0.0290 (0.970) 0.00618 (0.298) -0.00459 (-0.279) 0.0281 (1.124) -0.00472 (-0.418) 0.00624 (0.229) 0.00965 (0.437) 0.0281 (0.980) -0.0153 (-0.938) 0.0242 (0.912) 0.00425 (0.200) 0.0537* (1.897) -0.0266* (-1.724) -0.000864 (-0.0133) 0.0235 (0.448) 0.0806 (1.021) 0.00699 (0.0945) 0.0833 (1.431) -0.150 (-0.802) 3,021 -0.0787 (-0.974) -0.103 (-1.608) -0.0877 (-0.842) -0.114 (-1.314) -0.0405 (-0.587) 0.148 (0.611) 3,021 -0.0590** (-2.151) -0.0799*** (-3.352) -0.115*** (-3.115) -0.00165 (-0.0454) -0.139*** (-5.582) -0.0139 (-0.168) 3,021 -0.0429 (-1.041) -0.105*** (-3.166) -0.0960* (-1.917) -0.0243 (-0.543) -0.153*** (-4.156) 0.0212 (0.184) 3,021 0.0742 (1.419) -0.0341 (-0.793) 0.0355 (0.523) 0.0633 (1.099) -0.0757 (-1.627) -0.190 (-1.368) 3,021 -0.0270 (-1.576) -0.0133 (-1.040) -0.0500** (-2.304) -0.00344 (-0.217) -0.00430 (-0.290) -0.0415 (-0.758) 3,021 -0.00208 (-0.0740) -0.00366 (-0.153) -0.00792 (-0.226) -0.0110 (-0.429) 0.0195 (0.744) -0.00720 (-0.111) 3,021 -0.0298 (-1.151) -0.0151 (-0.691) -0.0280 (-0.901) -0.0136 (-0.556) 0.0157 (0.676) -0.0539 (-0.802) 3,021 k om l.c gm an Lu T-statistics in parentheses *, **, and ***: significant at 10%, 5% and 1%, respectively jm ht Observations Note: -0.0845** (-2.419) 0.112*** (3.558) -0.0446 (-1.148) 0.0448* (1.953) vb Constant 0.00743 (0.302) 0.0392* (1.729) 0.0241 (0.893) -0.00839 (-0.517) z REGI6 0.0185 (0.242) -0.0416 (-0.639) 0.0586 (0.712) -0.0392 (-0.849) z REGI5 0.0341 (0.871) -0.0221 (-0.669) 0.0213 (0.413) -0.0237 (-0.529) -0.0995*** (-2.761) 0.141 (1.260) 3,021 0.0401 (0.652) 0.0421 (0.799) 0.0474 (0.697) -0.0160 (-0.415) at REGI4 -0.0439 (-1.198) -0.0124 (-0.427) 0.119*** (2.624) -0.0755* (-1.859) -0.0743** (-2.270) 0.123 (1.315) 3,021 nh REGI3 -0.0459 (-1.109) -0.0309 (-0.888) 0.115** (2.231) -0.0644 (-1.308) -0.0357 (-0.915) 0.0184 (0.160) 3,021 0.00496 (0.136) 0.0294 (0.931) -0.00399 (-0.102) 0.0243 (1.050) m ll REGI1 is based REGI2 fu IMARK n ROAD va COFAR 0.0265 (0.865) 0.0544** (1.986) 0.0151 (0.465) -0.0169 (-0.820) n 0.0297 (0.868) 0.0618** (2.003) 0.00929 (0.254) -0.0350 (-1.495) oi ua al CO135 va n y te re ac th si g e cd jg hg ad ju y th yi pl 224 ua al n APPENDIX 7.7 n va 0.00237 (0.0914) 0.000448 (0.166) -0.0334 (-1.043) 0.00906 (0.314) 0.131* (1.880) 0.00181 (0.587) 0.0450*** (4.264) -0.0113 (-0.897) -0.00308 (-0.278) -0.0248* (-1.682) -0.0323* (-1.777) -0.00290 (-0.267) 0.0142 (0.176) -0.0237 (-0.829) 0.00836 (1.063) -0.0385 (-1.028) 0.00969** (2.204) -0.00199 (-0.0420) -0.0123 (-0.288) -0.0805 (-1.007) 0.000764 (0.180) 0.0525*** (3.554) -0.0274 (-1.527) 0.0200 (1.296) -0.0174 (-0.889) -0.0336 (-1.487) 0.00534 (0.425) 0.00441 (0.0427) 0.0162 (0.394) 0.0131 (1.139) 0.0213 (0.407) 0.01000* (1.930) -0.0203 (-0.324) -0.0184 (-0.321) 0.181* (1.664) -0.00774 (-1.344) 0.0270 (1.387) -0.00670 (-0.278) 0.00598 (0.288) -0.0387 (-1.477) -0.0253 (-0.760) 0.0211 (1.001) 0.0144 (0.106) -0.00133 (-0.0257) 0.0113 (0.771) 0.00161 (0.0898) -0.00448* (-1.712) 0.00980 (0.495) 0.00398 (0.223) 0.0937* (1.666) 0.00120 (0.546) -0.0255*** (-3.420) -0.0126 (-1.399) 0.0754*** (7.108) 0.0213** (2.188) 0.0319** (1.984) -0.0192 (-1.385) -0.0202 (-0.344) -0.0290 (-1.139) 0.000824 (0.155) 0.0363 (1.351) -1.42e-05 (-0.00374) 0.0429 (1.101) -0.0102 (-0.319) 0.00372 (0.0596) 0.00899*** (2.814) 0.0214* (1.886) -0.0291** (-2.086) -0.00711 (-0.596) 0.139*** (7.627) 0.00967 (0.577) -0.00180 (-0.161) -0.0639 (-0.774) -0.00845 (-0.255) -0.00722 (-0.917) 0.0125 (0.519) -0.00376 (-1.149) 0.0369 (1.117) 0.00674 (0.237) 0.0909 (1.519) 0.00676** (2.294) -0.00753 (-0.778) -0.0322*** (-2.740) 0.0481*** (3.817) 0.120*** (7.862) 0.0305* (1.646) -0.0127 (-0.842) -0.0723 (-1.093) -0.0193 (-0.582) -0.00752 (-0.989) an Lu va n y te re ac th si INSU 0.355*** (4.911) 0.00794 (0.859) 0.140 (1.414) -0.0263 (-0.294) -0.0423 (-0.189) -0.00691 (-0.761) -0.0147 (-0.480) -0.0235 (-0.649) 0.000179 (0.00543) 0.0239 (0.582) 0.0553 (1.106) -0.0376 (-1.031) 0.172 (0.749) 0.0154 (0.179) 0.0267 (1.145) om POOR 0.0452 (0.703) -0.00549 (-0.787) -0.0620 (-0.737) -0.0561 (-0.718) 0.159 (0.969) 0.00478 (0.609) -0.0409 (-1.532) 0.0223 (0.710) 0.252*** (8.803) -0.0165 (-0.476) -0.0496 (-0.960) -0.0121 (-0.304) -0.175 (-0.948) -0.0973 (-1.407) 0.0324 (1.642) l.c HOME 0.0586 (1.436) 0.00675* (1.696) 0.0413 (0.815) -0.0163 (-0.350) 0.109 (1.231) -0.0135*** (-2.881) -0.0381** (-2.508) -0.00743 (-0.396) -0.00582 (-0.351) -0.0569*** (-2.757) -0.00332 (-0.124) 0.0217 (1.280) 0.0923 (0.836) -0.0316 (-0.813) 0.0250** (2.139) LAND2 NWW gm LAND1 OLD k SAGE3 CHILD jm SAGE1 NCFA ht SFEM NCFD vb SIZE FCON z GRAD HCON z ETHI g e cd -0.0324 (-0.961) -7.87e-05 (-0.0174) -0.000864 (-0.0209) 0.0704* (1.938) 0.171* (1.882) -0.00106 (-0.265) 0.00970 (0.716) -0.00197 (-0.122) -0.00608 (-0.425) -0.0301* (-1.682) -0.0540** (-2.298) 0.0145 (1.040) 0.0550 (0.504) -0.0764** (-2.175) -0.00941 (-0.953) ECON at GENDER -0.0159 (-0.407) -0.00136 (-0.273) 0.0653 (1.352) 0.0726* (1.760) 0.162 (1.590) 0.00296 (0.625) 0.0627*** (3.880) -0.0283 (-1.577) -0.0169 (-1.041) -0.0301 (-1.326) -0.0591** (-2.317) 0.00487 (0.309) -0.105 (-0.797) -0.0679 (-1.636) -0.0238** (-2.171) TCON nh MARI TINC oi HS1A*CR (β2) EINC m ll HS1A (β1) fu VARIABLES Impact of HS1A and the Role of Microcredit – VFE jg hg ad ju y th yi pl 225 ua al 0.752 (0.693) -0.0688 (-0.103) -0.477 (-0.860) 0.564 (0.989) 0.103 (1.017) -0.0273 (-0.418) 0.0369 (0.598) 0.0194 (0.264) 0.746 (1.135) -0.0102 (-0.128) -0.0192 (-0.237) 0.482 (1.186) 0.797 (1.169) -0.0184 (-0.411) 0.0340 (0.740) 0.275 (1.045) -1.708 (-1.345) -2.472* (-1.801) -0.242 (-0.189) -0.570 (-0.382) -0.625 (-0.397) 0.0435 (0.0403) 3,021 -4.075*** (-3.356) -2.730** (-2.296) -2.418** (-2.359) -3.323** (-2.175) -2.533 (-1.379) 0.373 (0.203) 3,021 -0.484 (-0.914) -0.380 (-0.673) -0.172 (-0.346) -0.281 (-0.471) -0.910 (-1.581) 0.495 (1.217) 3,021 -0.0931 (-0.237) -0.502 (-1.349) 0.577 (0.954) 0.301 (0.596) -0.936* (-1.797) 0.782 (1.511) 3,021 -0.411 (-0.518) -0.305 (-0.343) -0.479 (-0.570) -0.348 (-0.347) -0.706 (-0.909) 0.115 (0.196) 3,021 -0.0259 (-0.239) -0.0530 (-0.465) -0.552 (-0.855) 0.0108 (0.129) -0.0126 (-0.118) -0.0750 (-0.695) 3,021 -0.813 (-1.511) -0.478 (-1.146) -0.515 (-1.263) -0.507 (-1.246) -0.448 (-1.076) -0.0984 (-0.880) 3,021 -0.599 (-1.362) -0.287 (-1.042) -0.401 (-1.130) -0.286 (-1.056) -0.242 (-0.880) -0.131 (-1.404) 3,021 k om l.c gm an Lu T-statistics in parentheses *, **, and ***: significant at 10%, 5% and 1%, respectively jm ht Observations Note: 0.959 (1.152) -0.579 (-1.169) -1.290*** (-2.687) 0.637*** (2.793) vb Constant 0.822** (2.043) -0.304** (-2.324) -0.763** (-2.230) 0.459 (1.083) z REGI6 0.252 (0.120) 0.222 (0.167) 0.112 (0.0635) 1.959* (1.870) z REGI5 -1.169** (-2.364) -1.361** (-1.963) -0.906 (-1.557) -0.891 (-1.279) -2.036*** (-2.877) 1.403** (2.402) 3,021 0.610 (0.522) -0.767 (-1.471) 0.232 (0.221) 1.490 (1.195) at REGI4 -0.599 (-0.937) -0.740 (-0.968) -1.083 (-1.534) -0.968 (-1.337) -1.026 (-1.109) 0.208 (0.228) 3,021 nh REGI3 -0.167 (-0.226) -0.382 (-0.459) -0.902 (-1.117) -0.835 (-1.036) -0.742 (-0.748) -0.00119 (-0.00120) 3,021 oi REGI1 is based REGI2 m ll IMARK 1.791** (2.236) -0.477 (-1.180) -1.209** (-2.206) 1.113*** (2.638) fu ROAD n COFAR 0.336 (0.422) 0.00248 (0.00980) -0.0870 (-0.129) 0.651*** (3.447) va 0.319 (0.378) 0.133 (0.427) -0.114 (-0.167) 0.561*** (3.544) n CO135 va n y te re ac th si g e cd jg hg ad ju y th yi pl 226 ua al n APPENDIX 7.8 va n Impact of HS1A and the Role of Microcredit – Without VFE 0.0138 (0.682) 0.000263 (0.145) -0.0257 (-0.839) 0.0113 (0.409) 0.0312 (1.127) -0.00239 (-0.986) 0.0371*** (4.076) -0.00937 (-0.870) -0.000446 (-0.0478) -0.0380*** (-2.977) -0.00540 (-0.392) -0.00887 (-0.916) 0.00438 (0.0679) -0.0203 (-0.838) 0.0145** (2.347) -0.0218 (-0.783) 0.00832*** (2.765) -0.0440 (-1.066) 0.00162 (0.0438) 0.0296 (0.692) -0.000184 (-0.0541) 0.0441*** (3.536) -0.00763 (-0.507) 0.0234* (1.790) -0.0284* (-1.688) -0.00774 (-0.431) -0.00505 (-0.391) -0.0415 (-0.481) 0.0112 (0.324) 0.0145 (1.587) 0.0479 (1.295) 0.00388 (1.119) 0.00795 (0.154) -0.0343 (-0.743) 0.122** (2.425) -0.00913** (-2.071) 0.0387** (2.422) -0.00659 (-0.332) -0.00294 (-0.170) -0.0526** (-2.381) -0.0186 (-0.745) 0.0142 (0.778) 0.0283 (0.264) 0.0288 (0.677) 0.00273 (0.253) -0.00417 (-0.289) -0.00228 (-0.980) -0.0107 (-0.661) -0.00194 (-0.142) 0.0173 (0.887) 0.00322* (1.733) -0.0218*** (-3.559) -0.0139* (-1.915) 0.0706*** (7.747) 0.0225*** (3.074) 0.00331 (0.282) -0.00634 (-0.656) 0.0275 (0.664) -0.0151 (-0.742) -0.00258 (-0.600) 0.0117 (0.563) -0.000824 (-0.253) 0.0630* (1.765) -0.0355 (-1.187) -0.0415 (-1.427) 0.00592** (2.349) 0.0118 (1.326) -0.0157 (-1.566) -0.00382 (-0.414) 0.118*** (7.215) -0.00764 (-0.555) 0.00430 (0.392) -0.0399 (-0.913) 0.00606 (0.230) -0.00528 (-0.878) -0.000247 (-0.0134) -0.00216 (-0.846) 0.0395 (1.411) -0.0219 (-0.914) 0.00135 (0.0520) 0.00704*** (2.974) -0.0108 (-1.468) -0.0279*** (-3.277) 0.0483*** (4.979) 0.107*** (8.165) -0.00146 (-0.108) -0.00207 (-0.181) 0.00311 (0.0623) -0.00739 (-0.285) -0.00617 (-1.156) an Lu va n y te re ac th si INSU 0.313*** (5.919) 0.0127** (2.304) 0.116 (1.418) -0.0165 (-0.231) -0.0378 (-0.459) -0.000937 (-0.133) -0.00167 (-0.0661) -0.0339 (-1.118) 0.00756 (0.274) 0.0301 (0.878) 0.0403 (1.122) -0.0559** (-2.126) -0.281 (-1.465) 0.0164 (0.237) 0.0347** (1.990) om POOR 0.0832* (1.761) -0.00357 (-0.546) -0.0439 (-0.666) -0.0450 (-0.730) -0.0370 (-0.574) 0.00701 (1.226) -0.0205 (-0.951) -0.0141 (-0.555) 0.247*** (10.57) -0.0199 (-0.745) -0.0540 (-1.559) -0.0201 (-0.780) 0.0823 (0.543) -0.0968* (-1.822) 0.0212 (1.459) l.c HOME 0.0669** (2.299) 0.000632 (0.214) 0.0230 (0.570) 0.00780 (0.215) 0.0701* (1.791) -0.0107*** (-3.179) -0.0347*** (-2.836) -0.00184 (-0.121) -0.00956 (-0.723) -0.0559*** (-3.236) -0.00118 (-0.0672) 0.00742 (0.622) 0.0177 (0.210) -0.00891 (-0.276) 0.0203** (2.450) LAND2 NWW gm LAND1 OLD k SAGE3 CHILD jm SAGE1 NCFA ht SFEM NCFD vb SIZE FCON z GRAD HCON z ETHI g e cd -0.0169 (-0.661) 0.000326 (0.0977) -0.00809 (-0.232) 0.0723** (2.363) 0.123*** (3.452) -0.00458 (-1.552) -0.0151 (-1.354) 0.0161 (1.230) -0.0129 (-1.083) -0.0437*** (-2.909) -0.0313* (-1.951) 0.00497 (0.572) -0.0179 (-0.250) -0.0557* (-1.940) 0.00160 (0.213) ECON at GENDER -0.00882 (-0.292) 0.000469 (0.120) 0.0365 (0.877) 0.0655* (1.852) 0.122*** (3.060) -0.00211 (-0.606) 0.0322** (2.518) -0.00780 (-0.549) -0.0214* (-1.646) -0.0596*** (-3.204) -0.0371** (-2.187) 0.00299 (0.330) -0.0796 (-0.892) -0.0457 (-1.310) -0.00516 (-0.627) TCON nh MARI TINC oi HS1A*CR (β2) EINC m ll HS1A (β1) fu VARIABLES jg hg ad ju y th yi pl 227 0.0146 (0.309) 0.0228 (0.564) 0.0197 (0.393) 0.0290 (0.969) 0.00597 (0.287) -0.00422 (-0.256) 0.0282 (1.129) -0.00478 (-0.424) 0.00737 (0.270) 0.00882 (0.399) 0.0276 (0.966) -0.0148 (-0.907) 0.0244 (0.918) 0.00337 (0.158) 0.0538* (1.901) -0.0264* (-1.713) 0.000269 (0.00414) 0.0203 (0.387) 0.0727 (0.917) 0.000423 (0.00569) 0.0679 (1.138) -0.143 (-0.759) 3,021 -0.0839 (-1.041) -0.113* (-1.766) -0.117 (-1.123) -0.136 (-1.566) -0.0764 (-1.091) 0.156 (0.648) 3,021 -0.0597** (-2.179) -0.0800*** (-3.356) -0.116*** (-3.132) -0.00227 (-0.0623) -0.138*** (-5.458) -0.0163 (-0.197) 3,021 -0.0448 (-1.089) -0.105*** (-3.167) -0.0943* (-1.885) -0.0222 (-0.495) -0.146*** (-3.896) 0.0165 (0.143) 3,021 0.0730 (1.396) -0.0358 (-0.834) 0.0309 (0.455) 0.0600 (1.042) -0.0802* (-1.701) -0.189 (-1.361) 3,021 -0.0263 (-1.539) -0.0131 (-1.020) -0.0495** (-2.267) -0.00326 (-0.204) -0.00488 (-0.312) -0.0407 (-0.745) 3,021 -0.00176 (-0.0626) -0.00470 (-0.196) -0.00861 (-0.246) -0.0115 (-0.451) 0.0199 (0.766) -0.00855 (-0.132) 3,021 -0.0295 (-1.143) -0.0152 (-0.694) -0.0273 (-0.879) -0.0132 (-0.538) 0.0186 (0.789) -0.0567 (-0.843) 3,021 k om l.c gm an Lu T-statistics in parentheses *, **, and ***: significant at 10%, 5% and 1%, respectively jm ht Observations Note: -0.0838** (-2.404) 0.110*** (3.479) -0.0450 (-1.159) 0.0455** (1.981) vb Constant 0.00724 (0.295) 0.0387* (1.711) 0.0241 (0.894) -0.00860 (-0.530) z REGI6 0.0234 (0.306) -0.0374 (-0.575) 0.0553 (0.668) -0.0404 (-0.872) z REGI5 0.0330 (0.843) -0.0241 (-0.732) 0.0157 (0.304) -0.0280 (-0.624) -0.104*** (-2.849) 0.139 (1.241) 3,021 0.0418 (0.680) 0.0448 (0.848) 0.0466 (0.683) -0.0161 (-0.419) at REGI4 -0.0428 (-1.167) -0.0129 (-0.445) 0.120*** (2.640) -0.0746* (-1.833) -0.0758** (-2.300) 0.126 (1.350) 3,021 nh REGI3 -0.0442 (-1.067) -0.0321 (-0.924) 0.115** (2.221) -0.0646 (-1.306) -0.0416 (-1.047) 0.0249 (0.216) 3,021 oi REGI1 is based REGI2 0.00598 (0.165) 0.0294 (0.932) -0.00456 (-0.116) 0.0241 (1.041) m ll IMARK fu ROAD n COFAR 0.0275 (0.896) 0.0545** (1.983) 0.0147 (0.451) -0.0163 (-0.787) va 0.0313 (0.914) 0.0627** (2.022) 0.00856 (0.233) -0.0341 (-1.457) n ua al CO135 va n y te re ac th si g e cd jg hg 228 APPENDIX 8.1 Access to Credit by Poverty status t to Source ng Microcredit hi ep Non-microcredit w Formal n lo ad Informal y th Any Sources ju yi pl Total NTP Commune No Yes 401 484 (45.3%) (54.7%) 1005 891 (53.0%) (47.0%) 975 933 (51.1%) (48.9%) 487 480 (50.4%) (49.6%) 1355 1299 (51.1%) (48.9%) 3849 3239 (54.3%) (45.7%) Poverty Status No Yes 649 236 (73.3%) (26.7%) 1496 400 (78.9%) (21.1%) 1468 440 (76.9%) (23.1%) 755 212 (78.1%) (21.9%) 2058 596 (77.5%) (22.5%) 5514 1574 (77.8%) (22.2%) Total 885 (100%) 1896 (100%) 1908 (100%) 967 (100%) 2654 (100%) 7088 (100%) n ua al n va APPENDIX 8.2 ll fu Difficulties in Accessing to Agricultural Input (Seed, Fertilizers) oi at nh z z k jm ht vb om l.c gm No difficulties Lack of suppliers Prices too high Not enough information Not able to buy on credit Not enough access to credit Poor transport infrastructure Other Difficulties Total Non-adopters Adopters Whole Sample No % No % No % 305 63.7% 1,424 72.7% 1729 70.9% 18 3.8% 84 4.3% 102 4.2% 37 7.7% 217 11.1% 254 10.4% 16 3.3% 55 2.8% 71 2.9% 15 3.1% 73 3.7% 88 3.6% 1.3% 0.2% 10 0.4% 76 15.9% 97 5.0% 173 7.1% 1.3% 0.3% 11 0.5% 479 100.0% 1,959 100.0% 2,438 100.0% m Difficulties an Lu n va ey t re