Skip to main content

Table 12 Consumer credits and formal employment probability by sectors

From: Overlooked benefits of consumer credit growth: impact on formal employment

 

(OLS)

(IV)

Observations

 

Consumer credits

Consumer credits

First stage:

F-stat

 

Manufacturing

0.130*

0.147*

− 3.580***

42.6

N = 88,422

 

(0.0727)

(0.0754)

(0.549)

  

Construction

− 0.0572

0.131

− 3.806***

36.9

N = 32,668

 

(0.0857)

(0.162)

(0.626)

  

Retail, food, and

0.142**

0.193**

− 3.756***

66.2

N = 70,599

accommodation

(0.0719)

(0.0757)

(0.462)

  

Transportation

0.0490

0.229*

− 3.825***

77.7

N = 21,656

and communication

(0.0864)

(0.121)

(0.434)

  

Financial services

0.224***

0.304***

− 3.872***

87.3

N = 33,166

and admin. support

(0.0568)

(0.0994)

(0.414)

  

Social services

− 0.0205

− 0.00137

− 3.628***

43.58

N = 105,434

 

(0.0517)

(0.0582)

(0.550)

  

Region FE

Yes

Yes

   

Year FE

Yes

Yes

   

Individual controls

Yes

Yes

   

Regional controls

Yes

Yes

   
  1. (1) Robust standard errors are clustered at the household and Nuts2 levels, and ***, **, and * refer to 1, 5, and 10% significance levels. (2) Consumer credits are expressed in real per capita terms and are in logs. (3) Regional controls include real GDP per capita (in logs.), average real monthly earnings (in logs.) unemployment rate, average education, average firm size, net migration rate, and urban population (%) at Nuts2 level. (4) Individual controls include experience, experience squared, dummy variables for gender, education, age, civil status, part-time versus full-time employment status, temporary versus permanent employment status, firm size, urban-rural, sector (Nace Rev2.), and occupations (Isco 88). (5) Population weights are used
Back to article page