I Fiance Apicultural

98
Table 45-Estimated multivariate models of supply of rural
deposits in two studies of Asian low-income
countries
Determinant
Real interest rate on
12-nionth time deposit
Notinal interest rate ol
12-nionth tine deposit
Inflationi rate
Dummy %ariable for
Sri Lianka
l)nmy variahle for Nepal
Diimmy variable for Pakistan
R2
Number of obser % ations
India, Nepal,
Pakistan and Sri Lanka
Together, 1970-81,
PCRDSD
(Srinivasan and
Meyer 1936)
Model I
1.72
(3.I)*[6]
...
...
Model I
...
0.06
(0.6)[9]
-0.01
(-0.1)[10]
Bangladesh, India,
Nepal, Pakistan,
and Sri Lank.
Together, 1970-81,
PCRDSD
(Srinivasan and
Meyer 1986)
Model I Model 11
2.5,.
(5..1)*171
.. . 0.13
(I.0))[ 11
... -0.68
(-1.7)**[8]
Nimbe"r of bank branches
per 1,000 inhabitants in
rural areas
1.31
1.30
1.33 1.31
(18.8)-[11 (19.3)*[ 1] (15.6)*111 (12..l)*[l]
Per capita teal agrictilitnrai
GDP
0.53
0.62
0.59
(5..)*[.I](,1.3)*[5](5.9) *161
0.72
.. 0)*[7]
-. 1.2-1 -4.21
(-8.8)*[31 (-9.0)*[31
- 0.96 -0.9 1
(-1.2)191 (-1.0)[8]
-3.38 -3.32
0.88 0.87
12 12
-.1.32 -. 1.10
(-9.6)*[21 (-7.6)*12]
-1.32 - 1.07
(-l.8)**[ 1l] (-1.2) [12]
-3.57 -3.18
0.98 0.97
12 12
Notes: Figures in parentheses are i-values. Figures in brackets are ranks based on
us.gnitsode of t.values (ignoring signs).
PCRDSI) = Per capita real dletiautd atld savings deposits in rtiral areas.
*Significant at pelcetnt.
**Significant at5 percent.
1966; Lee and Kint 1976; Ohio State Ulhiversity 1987; ThIingalaya 1980;
TtI'an 1973; van Wijnbecrgeii 1983d; anld Wiseit annd Hitris 1980).
Tie study on the Repnublic of Korwa (Ain, Adatis, and Ro 1979)
suggests that between 1961 and 1976 the farli hoitsehol(Is si,!;: iitttel
liquid assets (such as cash, deposits, Ioan.(I ntolly, and others) and
Dhysically productive resouirces fol- semili(ltid assets (such as sinall
anitials, p1odtict inventories, and 1)rodticel's itiaterial intventories).
These substitutions may have been encoulragc( by highier retirns On