The inexorable rise of digital finance has lead to huge changes in consumption patterns.Under this background,we match the index of Digital Financial Inclusion with data of the China Family Panel Studies(CFPS)to explo...The inexorable rise of digital finance has lead to huge changes in consumption patterns.Under this background,we match the index of Digital Financial Inclusion with data of the China Family Panel Studies(CFPS)to explore the relationship between digital finance and household consumption.Firstly,based on sub-sample empirical analysis,we find that digital finance has helped increase urban household consumption,especially the basic consumption related to life,in China.Secondly,we discuss the mechanism of digital finance to promote household consumption,concluding that the payment convenience of digital finance has accelerated household consumption decisions,thereby promoting consumption growth.Moreover,digital finance can also promote household consumption by reducing the uncertainty faced by family.展开更多
基金National Natural Science Foundation of China Youth Project“The Impact of Digital Finance Development on Household Consumption:Micro Mechanism and Structure Difference”(72003011)Youth Project of Humanities and Social Sciences Fund of the Ministry of Education“The Impact of Education Financial Investment on Family Education Expenditure Decision:Micro Mechanism and Empirical Test”(19YJC790036)National Key Project of Statistical Science Research“Statistical Monitoring of High-Quality Development of Urban Agglomeration of Beijing,Tianjin and Hebei”(2019LZ16).
文摘The inexorable rise of digital finance has lead to huge changes in consumption patterns.Under this background,we match the index of Digital Financial Inclusion with data of the China Family Panel Studies(CFPS)to explore the relationship between digital finance and household consumption.Firstly,based on sub-sample empirical analysis,we find that digital finance has helped increase urban household consumption,especially the basic consumption related to life,in China.Secondly,we discuss the mechanism of digital finance to promote household consumption,concluding that the payment convenience of digital finance has accelerated household consumption decisions,thereby promoting consumption growth.Moreover,digital finance can also promote household consumption by reducing the uncertainty faced by family.
