Does financial knowledge contribute to the upgrading of the resident's consumption?

Xinzhen Feng and Gang Du

Finance Research Letters, 2023, vol. 58, issue PC

Abstract: This paper examines the impact of residents' financial knowledge on the scale and structure of their consumption. The survey data of CHFS in 2017, 2019 and 2021 are selected as the research samples. The study finds that: improved financial knowledge can significantly promote consumption upgrading; the impact of financial knowledge on the scale of residents' consumption has a more significant marginal effect in rural households, divided into urban and rural households; the digital financial inclusion index will significantly weaken the positive impact of financial knowledge on the scale and structure of households' consumption.

Keywords: Financial knowledge; Consumption upgrading; Mediation effect (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323009078

DOI: 10.1016/j.frl.2023.104535

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