Impact of Financial Literacy on Household Online Consumption: Empirical Evidence Based on the CHFS Data
WANG Wei1,2，LI Jun1
1.School of Public Economics and Management, Shanghai University of Finance and Economics
2.Shanghai Key Laboratory of Financial Information Technology Research
Abstract：Inadequate consumption demand is an important factor restricting Chinese economic growth. Promoting online consumption is conducive to the release of the Chinese domestic demand potential, thereby providing strong driving force for high-quality economic development. Based on this, using the 2017 China Household Finance Survey data, the Tobit model is used to empirically study the impact of financial literacy on household online consumption expenditure and its implementation mechanism. The results show that: the improvement of financial literacy level can significantly improve the online consumption expenditure of households. After using the instrumental variable method to overcome the potential endogenous problems, the research conclusions are still valid. The promotion effect of financial literacy on household online consumption expenditure is more evident in rural and low-income household samples. The improvement of financial literacy level has promoted the use of online payment by households, increased financial availability for households, and promoted household wealth accumulation, thereby increasing household online consumption expenditure.
汪伟,李骏. 金融知识对家庭线上消费的影响——基于CHFS数据的经验证据[J]. 浙江工商大学学报, 2023, 37(3): 119-129.
WANG Wei， LI Jun. Impact of Financial Literacy on Household Online Consumption: Empirical Evidence Based on the CHFS Data. Journal of Zhejing Gongshang University, 2023, 37(3): 119-129.
2023, Vol. 37 
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