|P-value:<br>N<br>equal means|160<br>0.837<br>160<br>0.788<br>160<br>0.997<br>160<br>0.321<br>160<br>0.521<br>160<br>0.936<br>160<br>0.138<br>160<br>0.263<br>160<br>0.240<br>160<br>0.546<br>160<br>0.603<br>160<br>0.761<br>160<br>0.240<br>160<br>0.936<br>160<br>0.004<br>160<br>0.003<br>160<br>0.072<br>160<br>0.803<br>160<br>0.044<br>88<br>160<br>0.719<br>06<br>160<br>0.566<br>160<br>0.529|
|---|---|
|8-day delay<br>N<br>Mean<br>SD|158<br>0.64<br>0.48<br>158<br>0.63<br>0.48<br>158<br>4.7<br>2.2<br>158<br>1.5<br>1.2<br>158<br>130,273<br>384,059<br>158<br>-0.21<br>2.83<br>158<br>3.77<br>1.75<br>158<br>0.20<br>0.40<br>158<br>0.30<br>0.46<br>158<br>2.84<br>1.97<br>156<br>14,141<br>11,791<br>156<br>5,353<br>5,638<br>156<br>2,095<br>2,492<br>156<br>5,793<br>8,395<br>156<br>696<br>2,048<br>156<br>177<br>460<br>156<br>41<br>206<br>158<br>0.08<br>0.26<br>158<br>0.26<br>0.44<br>1<br>158<br>8124.574219<br>47994.421<br>1<br>158<br>-6747.744141<br>33820.914<br>158<br>1376.83<br>17062.67<br>ed on regressions<br>ex’ is a principal<br> a series of<br>month. The choices<br>on for which the<br>spending on non-food<br>ithdrawals are|
|Table 3: Balancing tests, payment delays<br>No Delay<br>1-day delay<br>Mean<br>SD<br>N<br>Mean<br>SD|Panel A: Baseline survey (June to August 2013)<br>Male<br>0.68<br>0.47<br>156<br>0.66<br>0.48<br>Married<br>0.64<br>0.48<br>156<br>0.61<br>0.49<br>Number of hh members<br>4.7<br>2.1<br>156<br>4.7<br>2.3<br>Acres of land<br>1.5<br>1.3<br>156<br>1.4<br>1.0<br>Value of non-fxed assets (MK)<br>158,793<br>532,003<br>156<br>200,520<br>670,851<br>Asset index<br>-0.16<br>3.14<br>156<br>-0.10<br>3.38<br>Distance to branch (km)<br>3.70<br>1.72<br>156<br>3.62<br>1.70<br>Hyperbolic<br>0.23<br>0.42<br>156<br>0.27<br>0.45<br>Patient now, impatient later<br>0.21<br>0.41<br>156<br>0.28<br>0.45<br>Impatience (switching point, out of 6)<br>2.85<br>2.11<br>156<br>3.06<br>2.04<br>Panel B: Total of itemized expenditures from round 1 survey<br>Total<br>15,319<br>14,636<br>156<br>15,614<br>13,320<br>Food<br>5,337<br>5,393<br>156<br>4,960<br>5,122<br>non-durables<br>2,139<br>2,552<br>156<br>2,601<br>3,071<br>Durables and investments<br>5,959<br>9,020<br>156<br>6,115<br>7,632<br>Other<br>1,515<br>3,146<br>156<br>1,427<br>2,832<br>Unplanned food<br>343<br>621<br>156<br>388<br>794<br>Unplanned non-durables<br>73<br>281<br>156<br>129<br>455<br>Panel C: Bank transaction before round 1 survey<br>Any activity 7 days prior<br>0.06<br>0.25<br>156<br>0.09<br>0.29<br>Any activity 90 days prior<br>0.31<br>0.47<br>156<br>0.39<br>0.49<br>Value of deposits 90 days prior<br>19716.02344<br>195063.9219<br>156<br>13610.76953<br>48414.9453<br>Value of withdrawals 90 days prior<br>-30057.94141<br>328546.6875<br>156<br>-12976.71777<br>46100.5664<br>Value of net deposits 90 days prior<br>-10341.92<br>133819.36<br>156<br>634.05<br>5508.98<br>Reported p-values from test of equality of means in No-Delay 1-Day Delay and 8-Day Delay groups bas<br>that include village and week-of-frst-survey fxed efects mirroring the results specifcations. ‘Asset Ind<br>component index based on 62 asset and seven livestock categories. The impatience measure is based on<br>questions asking whether the respondent would prefer MK 400 tomorrow or a diferent amount in one <br>increased as follows: MK 450, 500, 600, 800, 1000 or more. We report the ordinal number of the questi<br>respondent preferred to wait; larger numbers indicate greater impatience. ‘Non-durables’ is the sum of <br>non-durables. ‘Durables’ is the sum of spending on durable goods, assets, livestock and farm inputs. W<br>represented as negative numbers. Exchange rate: MK 420 per USD.|

31