A study of the impact of digital finance usage on household consumption upgrading: Based on financial asset allocation perspective

被引：0

作者：

Ma, Hongxin ^{[1
]}

Yin, Yingkai ^{[1
]}

Liu, Zhenhai ^{[2
]}

Bai, Yi ^{[3
,4
]}

机构：

[1] Shanghai Univ, Sch Econ, Shanghai, Peoples R China

[2] Beijing Normal Univ, Hong Kong Baptist Univ United Int Coll, Fac Business & Management, Zhuhai, Peoples R China

[3] Univ Nottingham Ningbo China, Fac Humanities & Social Sci, Ningbo, Peoples R China

[4] Nanchang Univ, Sch Econ & Management, Nanchang, Peoples R China

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2024年 / 96卷

关键词：

Digital financial usage; Consumer upgrading; Risky financial assets; Portfolio diversification; Asset allocation effectiveness;

D O I：

10.1016/j.iref.2024.103628

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper analyzes the impact of digital financial usage on household consumption upgrading using data from the China Household Finance Survey (CHFS) 2015-2019. Overall, using digital financial services stimulates household consumption and enhances consumption patterns. Mechanistic analysis indicates that digital financial usage positively influences consumption upgrading by optimizing household financial asset allocation. This is evidenced across four dimensions: participation in risky financial markets, augmentation of risky asset allocation, and enhancement of financial investment portfolio diversity and efficacy. Furthermore, the influence of digital financial usage on consumption upgrading varies according to age, wealth, and region differences.

引用

页数：13

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