(1)

2010

(2)

2014

(3)

2016

(4)

2018

Online social network

0.295***

0.331***

0.346***

0.234***

(0.061)

(0.049)

(0.041)

(0.026)

Consumption loan

0.252***

0.197***

0.173**

0.171***

(0.032)

(0.059)

(0.078)

(0.051)

Online social network * Consumption loan

0.227**

0.171*

−0.257***

−0.050

(0.111)

(0.094)

(0.076)

(0.043)

Formal financial institutions

−0.004***

−0.014***

−0.001**

−0.006**

(0.001)

(0.004)

(0.001)

(0.002)

Consumption loan * Formal financial institutions

−6.09e−05

5.63e−05

0.0003*

0.0002

(0.000)

(0.000)

(0.000)

(0.000)

Household head characteristics variables

Control

Control

Control

Control

Household characteristics variables

Control

Control

Control

Control

Region

Control

Control

Control

Control

N

6142

4496

4381

5738

R-sq

0.292

0.318

0.297

0.425