Does COVID-19 Affect Household Financial Behaviors? Fresh Evidence From China

Hua Guo, Yang Zhang, Yanling Peng, Tong Luo and Hong Wang

SAGE Open, 2022, vol. 12, issue 3, 21582440221119481

Abstract: Based on online survey data from 2020, the present study employed a logit model to examine the effects of COVID-19 on household financial behaviors in China. Additionally, the KHB (Kohler, Karlson, Holm) model was employed to explore the pathway through which COVID-19 affects household financial behaviors. These analyses revealed that household saving and borrowing behaviors were more sensitive to COVID-19 than insurance and investment behaviors. Moreover, the effects of COVID-19 on household saving and investment behaviors were found to be mediated by attitudes toward COVID-19. These findings suggest that more effective measures to reduce households’ panic attitude to public health emergencies can diminish fluctuations in household financial behaviors in the short term.

Keywords: COVID-19; household financial behavior; KHB model; attitude; China (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:12:y:2022:i:3:p:21582440221119481

DOI: 10.1177/21582440221119481

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