Table 2: Logit model to predict the probability of participating in formal financial market conditional on selected observables characteristics. Dependent variable: participation or access to formal financial services ( ).

CovariatesOdds RatioMarginal Effect

GEN gender of respondents 1.33870.0709
YEDU years of schooling1.0742***0.0172
VALPUT previous year’s maize income1.0285**0.0183
TASET total asset 1.0003**0.0007
OATIV engaged in off-farm income generating activities 1.5863**0.1125
ACOM level of maize commercialisation 2.0473***0.1757
PROXI proximity to financial institution −2.2250***−0.1799
OPMO operational modalities 7.1746***0.3791
FSIZE farm size2.0214**0.1256

Number of obs = 577
LR (14) = 168.41
Prob = 0.0000
Pseudo = 0.2114

* ; ** ; *** .