A Systems View Across Time and Space
Table 6 Robustness
From: Financial inclusion and micro, small, and medium enterprises (MSMEs) growth in Uganda
(1) | (2) | (3) | (4) | |
|---|---|---|---|---|
Sample restricted SMEs domestic | Finance = Sh-sales-credit | Finance = sh-wkcap | Four alternative IC variables | |
Finance | 0.00808 (0.00847) | − 0.0216 (0.0130) | − 0.0351*** (0.0118) | − 0.0773*** (0.0184) |
(Micro)*Finance | − 0.00546 (0.00892) | 0.0590*** (0.0166) | 0.0597*** (0.0154) | 0.0912*** (0.0214) |
(Small)*Finance | − 0.00254 (0.0126) | 0.0845*** (0.0154) | 0.0728*** (0.0145) | 0.111*** (0.0198) |
(Medium)*Finance | 0.0731*** (0.0183) | 0.0737*** (0.0219) | 0.105*** (0.0293) | |
Regulations | 0.00337 (0.0129) | − 0.0199 (0.0441) | 0.0407 (0.0577) | − 0.815*** (0.277) |
(Micro)*Regulations | 0.00161 (0.0193) | 0.0268 (0.0443) | − 0.0301 (0.0575) | 0.836*** (0.290) |
(Small)*Regulations | 0.00357 (0.0184) | 0.00245 (0.0468) | − 0.0479 (0.0626) | 0.839*** (0.274) |
(Medium)*Regulations | 0.0184 (0.0545) | − 0.0374 (0.0679) | 1.004*** (0.283) | |
Corruption | − 0.756 (0.963) | 0.685 (1.974) | 1.681 (2.000) | − 3.428 (4.082) |
(Micro)*Corruption | 0.776 (1.101) | 0.233 (2.108) | − 1.557 (2.107) | 3.918 (4.453) |
(Small)*Corruption | 0.114 (1.258) | − 0.664 (2.071) | − 2.326 (2.122) | 0.453 (4.159) |
(Medium)*Corruption | − 0.501 (2.462) | − 1.015 (2.387) | 3.470 (8.721) | |
Infrastructure | − 0.000362 (0.00166) | 0.00335 (0.00331) | 0.00826*** (0.00200) | 0.0698** (0.0326) |
(Micro)*Infrastructure | 0.000210 (0.00165) | − 0.00289 (0.00340) | − 0.00731*** (0.00202) | − 0.0675* (0.0327) |
(Small)*Infrastructure | − 0.000503 (0.00194) | − 0.00473 (0.00338) | − 0.00837*** (0.00200) | − 0.0738* (0.0355) |
(Medium)*Infrastructure | − 0.00571 (0.00383) | − 0.00930*** (0.00217) | − 0.0598 (0.0401) | |
(Micro) | 0.125 (0.413) | − 1.336 (1.151) | −0.114 (0.856) | − 4.842*** (1.178) |
(Small) | − 0.0582 (0.349) | − 1.688 (1.086) | −0.415 (0.856) | − 5.506*** (1.075) |
(Medium) | − 1.819 (1.270) | − 1.050 (1.027) | − 6.532*** (1.203) | |
Constant | 1.487*** (0.440) | 1.404 (0.887) | 0.786 (0.783) | 5.234*** (0.978) |
Observations | 508 | 611 | 611 | 610 |
R-squared | 0.393 | 0.513 | 0.466 | 0.569 |
Firm Controls | Yes | Yes | Yes | Yes |
Sector FE | Yes | Yes | Yes | Yes |