Table 3: Education Outcomes

||Highest<br>pleted|grade<br>com-|Completed primary|Received<br>any<br>mal<br>education|for-<br>in<br>Family index|
|---|---|---|---|---|---|
|||||2011-2017||
|||(1)|(2)|(3)|(4)|
|**Panel A. Merit**||||||
|Treatment||0.213*|0.0500|0.044*|0.131**|
|||(0.117)|(0.036)|(0.026)|(0.065)|
|Observations||814|814|814|814|
|R-squared||0.160|0.148|0.129|0.167|
|F-statistic||3.240|3.610|3.420|5.040|
|Covariates||Yes|Yes|Yes|Yes|
|Control mean||5.590|0.610|0.780|0.130|
|Joint signifcance: Ho: all coef. =0||||||
|Chi-square||||3.548||
|p-value||||0.0600||
|**Panel B. Poverty**||||||
|Treatment||0.291*|0.113***|0.100**|0.264***|
|||(0.149)|(0.040)|(0.039)|(0.088)|
|Observations||753|753|753|753|
|R-squared||0.169|0.173|0.124|0.174|
|F-statistic||3.250|4.650|2.890|3.720|
|Covariates||Yes|Yes|Yes|Yes|
|Control mean||5.480|0.570|0.720|-0.0100|
|Joint signifcance: Ho: all coef. =0||||||
|Chi-square||||4.107||
|p-value||||0.0430||
|**Joint test: Poverty vs. Merit**||||||
|Chi-square||0.253|2.049|2.184|2.287|
|p-value||0.615|0.152|0.139|0.131|

(1) (2) (3) (4) **A. Merit** 0.213* 0.0500 0.044* 0.131** (0.117) (0.036) (0.026) (0.065) 814 814 814 814 0.160 0.148 0.129 0.167 3.240 3.610 3.420 5.040 Yes Yes Yes Yes mean 5.590 0.610 0.780 0.130 significance: Ho: all coef. =0 3.548 0.0600 **B. Poverty** 0.291* 0.113*** 0.100** 0.264*** (0.149) (0.040) (0.039) (0.088) 753 753 753 753 0.169 0.173 0.124 0.174 3.250 4.650 2.890 3.720 Yes Yes Yes Yes mean 5.480 0.570 0.720 -0.0100 significance: Ho: all coef. =0 4.107 0.0430 **test: Poverty vs. Merit** 0.253 2.049 2.184 2.287 0.615 0.152 0.139 0.131 Estimated treatment effects. The dependent variable in column (1) is the highest grade the individual completed and is equal to -1 if received no education, 0 if he only went to kindergarten and then ranges from 1 to 11 for Grade 1 to Grade 11. In column (2), the variable is a dummy equal to 1 if the individual completed primary education. In column (3), the dependent variable is equal to 1 if was enrolled in the formal education system during any of the years 2011 to 2016. In column (4), the family index is the inverse matrix-weighted mean of the standardized dependent variables from the three previous columns following Anderson (2008). All for district fixed effects, baseline test score, baseline poverty score, individual-level socio-economic variables from baseline, 6 (EMIS) variables and 5 census village-level variables, measured at baseline. Panel A includes respondents who were eligible for the merit scholarship 0 otherwise) and Panel B respondents who were eligible for the poverty scholarship (Treatment=1, 0 otherwise). Robust in parentheses (clustered at the school level). *** p<0.01, ** p<0.05, * p<0.1. The joint significance Chi-square (and corresponding is a result of testing for the coefficients of individuals regressions being jointly equal to 0, using seemingly unrelated estimation. vs. merit Chi-square (and corresponding p-value below) is a result of testing for the coefficient of the merit sample and the coefficient sample being equal.

Notes: Estimated treatment effects. The dependent variable in column (1) is the highest grade the individual completed and is equal to -1 if the individual received no education, 0 if he only went to kindergarten and then ranges from 1 to 11 for Grade 1 to Grade 11. In column (2), the dependent variable is a dummy equal to 1 if the individual completed primary education. In column (3), the dependent variable is equal to 1 if the individual was enrolled in the formal education system during any of the years 2011 to 2016. In column (4), the family index is the inverse covariance matrix-weighted mean of the standardized dependent variables from the three previous columns following Anderson (2008). All regressions control for district fixed effects, baseline test score, baseline poverty score, individual-level socio-economic variables from baseline, 6 school-level (EMIS) variables and 5 census village-level variables, measured at baseline. Panel A includes respondents who were eligible for the merit scholarship (Treatment=1, 0 otherwise) and Panel B respondents who were eligible for the poverty scholarship (Treatment=1, 0 otherwise). Robust standard errors are in parentheses (clustered at the school level). *** p<0.01, ** p<0.05, * p<0.1. The joint significance Chi-square (and corresponding p- value below) is a result of testing for the coefficients of individuals regressions being jointly equal to 0, using seemingly unrelated estimation. The poverty vs. merit Chi-square (and corresponding p-value below) is a result of testing for the coefficient of the merit sample and the coefficient of the poverty sample being equal.

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