Research Article
The Peer Effects of the Usage of Credit Cards in Rural Areas of China: Evidence from Rural China
Table 4
Instrumental variable estimation results of the peer effects of residents.
| | Variables | ccus | ccus | ccus | ccus | | (1) | (2) | (3) | (4) |
| | pccu | 3.337 (4.965) | 2.348 (2.320) | 3.428 (4.948) | 1.699 (3.577) | | Control variables | Yes | Yes | Yes | Yes | | Regional control | No | Yes | No | Yes | | Constant | −1.690 (−15.549) | −1.500 (−2.726) | −1.703 (−15.336) | −1.402 (−2.565) | | F-value of first stage | 743.79 | 68.29 | 932.35 | 64.48 | | pthirdbank | 0.486 (27.273) | 0.410 (20.476) | | | | pphonebank | | | 0.42 (30.534) | 0.340 (18.964) | | Observations | 2435 | 2435 | 2435 | 2435 |
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