INFLUENCE OF DIGITAL FINANCIAL ADVANCEMENT ON THE CONSUMPTION STRUCTURE OF CHINESE DOMICILES
Abstract
This study aims to comprehensively investigate the intricate mechanisms through which digital financial development influences residents' consumption structures. Employing regression analyses, mediation effect tests, and heterogeneity analyses across regions, income levels, and human capital groups, the research examines the impact of digital finance on disposable income, consumer credit, and overall consumption patterns. The study innovatively incorporates variables such as entrepreneurial activity, innovation level, and payment environment to provide a holistic understanding of these relationships. The motivation for this research lies in the need to deepen our comprehension of how digital finance shapes consumption behaviors ，The findings reveal significant positive associations between digital finance and residents' consumption structures. This research contributes to the existing literature by offering a nuanced perspective on the impact of digital finance on consumption patterns, providing insights relevant for shaping future policies that account for regional and demographic disparities.
Keyword : digital finance; resident consumption structure; resident consumption upgrade
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
Ali, M. A., Hussin, N., & Abed, I. A. (2019). Electronic payment systems: Architecture, elements, challenges and security concepts: An overview. Journal of Computational and Theoretical Nanoscience, 16(11), 4826-4838. Anakpo, G., Xhate, Z., & Mishi, S. (2023). The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy. Fin-tech, 2(2), 327-343. Aziz, A., & Naima, U. (2021). Rethinking digital financial inclusion: Evidence from Bangladesh. Technology in Society, 64, 101509. Babarinde, G. F., Abdulmajeed, I. T., & Kazeem, A. B. (2020). Understanding digital finance: a conceptual analysis. Lapai International journal of management and social sciences, 12(1), 92-102. Chen, Y., Kumara, E. K., & Sivakumar, V. (2021). Investigation of finance industry on risk awareness and digital economic growth. Annals of Operations Research, 1-22. Deaton A, Nuellbauer J. (1980). An Almost Ideal Demand System. The American Economic Review,70(3),312-316. Fernandes, C., Borges, M. R., & Caiado, J. (2021). The contribution of digital financial services to financial inclusion in Mozambique: an ARDL model approach. Applied Economics, 53(3), 400-409. Huang, KN, Hao, XR.(2021). Has digital finance promoted residents’consumption upgrade? Shangdong Social Sciences, 305:117-125. Hu, W., Chang, C. H., Sengupta, A., Bhunia, S., Kastner, R., & Li, H. (2020). An overview of hardware security and trust: Threats, countermeasures, and design tools. IEEE Transactions on Computer-Aided Design of Integrated Circuits and Systems, 40(6), 1010-1038. Lluch C, (1973). The Extended Linear Expendure System. European Economic Review, 04,21-32. Liu, Y., Dilanchiev, A., Xu, K., & Hajiyeva, A. M. (2022). Financing SMEs and business development as new post Covid-19 economic recovery determinants. Economic Analysis and Policy, 76, 554-567. Mahdzan, N. S., Sabri, M. F., Husniyah, A. R., Magli, A. S., & Chowdhury, N. T. (2022). Digital financial services usage and subjective financial well-being: evidence from low-income households in Malaysia. International Journal of Bank Marketing, (ahead-of-print). Nasir, A., Shaukat, K., Iqbal Khan, K., A. Hameed, I., Alam, T. M., & Luo, S. (2021). Trends and directions of financial technology (Fin-tech) in society and environment: A bibliometric study. Applied Sciences, 11(21), 10353. Rana, N. P., Luthra, S., & Rao, H. R. (2020). Key challenges to digital financial services in emerging economies: the Indian context. Information Technology & People, 33(1), 198-229. Sharma, H., & Díaz, A. (2023). Digital financial services and human development: current landscape and research prospects. Information Technology for Development, 1-25. Shofawati, A. (2019). The role of digital finance to strengthen financial inclusion and the growth of SME in Indonesia. KnE Social Sciences, 389-407. Su, L., Peng, Y., Kong, R., & Chen, Q. (2021). Impact of e-commerce adoption on farmers’ participation in the digital financial market: Evidence from rural china. Journal of Theoretical and Applied Electronic Commerce Research, 16(5), 1434-1457. Taylor A V. (2010). Fintech and Banking: What do We Know? Journal of Financial Intermediation, 41:1-13. Zhang C, Wang M.(2023).Effect and Mechanism Test of Digital Economy on Residents’Consumption Upgrading, Statistics and Decision,619:11-16.