Variables | All households | “ex ante” households | “ex post” households | ||||||
(1) | (2) | (3)a | (4) | (5)a | (6)a | (7)a | (8) | (9)a | |
Total flow ratio | Flow liquid asset ratio | Flow productive asset ratio | Total flow ratio | Flow liquid asset ratio | Flow productive asset ratio | Total flow ratio | Flow liquid asset ratio | Flow productive asset ratio | |
Constant | 4.45** (1.99) | 1.68*** (0.55) | 2.64 (1.66) | 5.02 (3.30) | 1.69** (0.77) | 3.18 (2.50) | 6.84 (4.42) | 2.70** (1.35) | 4.59 (3.87) |
Household head’s characteristics | |||||||||
Gender | 0.17*** (0.06) | 0.05*** (0.02) | 0.12** (0.05) | 0.20 (0.12) | 0.05 (0.03) | 0.15 (0.09) | 0.15* (0.08) | 0.06* (0.03) | 0.11 (0.07) |
Edu2 | 0.12 (0.09) | 0.05** (0.02) | 0.06 (0.08) | 0.22 (0.20) | 0.07* (0.04) | 0.16 (0.17) | 0.02 (0.08) | 0.03 (0.04) | −0.006 (0.06) |
Edu3 | 0.48*** (0.15) | 0.19*** (0.05) | 0.26** (0.12) | 0.75*** (0.29) | 0.23*** (0.09) | 0.45** (0.22) | 0.45 (0.28) | 0.20** (0.09) | 0.30 (0.24) |
Household’s characteristics | |||||||||
LnWealth | −0.28* (0.15) | −0.11*** (0.04) | −0.16 (0.13) | −0.33 (0.25) | −0.12** (0.06) | −0.20 (0.19) | −0.49 (0.33) | −0.19* (0.10) | −0.32 (0.29) |
Person | 0.06** (0.03) | 0.02*** (0.008) | 0.03 (0.02) | 0.12** (0.06) | 0.03** (0.01) | 0.08* (0.04) | 0.05 (0.04) | 0.03** (0.01) | 0.03 (0.04) |
Young rate | −0.04 (0.17) | −0.04 (0.04) | −0.04 (0.14) | −0.20 (0.28) | −0.06 (0.07) | −0.23 (0.21) | −0.16 (0.29) | −0.09 (0.08) | −0.04 (0.25) |
Old rate | −0.35*** (0.09) | −0.10*** (0.03) | −0.24*** (0.07) | −0.37** (0.17) | −0.09** (0.04) | −0.25** (0.12) | −0.37*** (0.14) | −0.13** (0.05) | −0.26** (0.12) |
Supporter | 0.08 (0.06) | 0.07*** (0.02) | −0.04 (0.03) | 0.35** (0.18) | 0.12*** (0.04) | 0.10 (0.11) | −0.08 (0.06) | 0.01 (0.03) | −0.07 (0.04) |
Organization | −0.26 (0.23) | −0.07 (0.07) | −0.17 (0.18) | −0.72 (0.55) | −0.24* (0.14) | −0.51 (0.41) | −0.20 (0.32) | 0.003 (0.09) | −0.21 (0.28) |
Assistance | −0.01*** (0.004) | −0.004*** (0.001) | −0.004* (0.002) | −0.03** (0.01) | −0.005** (0.002) | −0.01* (0.007) | −0.0002 (0.003) | −0.0008 (0.001) | −0.0007 (0.003) |
Insurance | −1.23*** (0.36) | −0.49*** (0.10) | −0.54** (0.22) | −1.72*** (0.61) | −0.39*** (0.12) | −0.94** (0.41) | −0.76* (0.42) | −0.52*** (0.20) | −0.46 (0.35) |
Diagnostic Tests | |||||||||
Wooldridge’s robust score test (p-value) | 27.3 (0.00) | 112.7 (0.00) | 13.9 (0.00) | 19.1 (0.00) | 55.1 (0.00) | 9.8 (0.04) | 24.6 (0.00) | 66.4 (0.00) | 10.4 (0.03) |
Robust regression F test (p-value) | 7.0 (0.00) | 29.6 (0.00) | 3.5 (0.00) | 4.7 (0.00) | 14.1 (0.00) | 2.5 (0.04) | 6.3 (0.00) | 17.4 (0.00) | 2.6 (0.03) |
Sargan Test chi2 (p-value) | 2.94 (0.23) | 2.34 (0.31) | 3.83 (0.28) | 1.27 (0.53) | 2.20 (0.53) | 3.15 (0.39) | 2.11 (0.55) | 1.10 (0.58) | 1.29 (0.73) |
Observations | 3227 | 3227 | 3227 | 1352 | 1352 | 1352 | 1875 | 1875 | 1875 |