 Accessibility of financial services and household consumption in China: Evidence from micro dataQuanyun Song, Jie Li, Yu Wu and Zhichao Yin The North American Journal of Economics and Finance, 2020, vol. 53, issue C Abstract: Access to finance has embraced by policymakers as an important tool for promoting inclusive development and achieving long-run financial security, while most studies provide macro-perspective evidence. Fewer yet, have taken into the additional role that digital finance may be playing. In this paper, we combine access to formal finance and digital finance into one framework. Based on the 2015 China Household Finance Survey data, we measure access to financial services from a microscopic perspective and construct a digital finance indicator. We then present evidence that both access to formal finance and digital finance significantly promote households’ consumption, and these effects are much larger for rural households and poorer households in China. Our finding also lend support to the conjecture that digital finance is more beneficial for inclusive development. Keywords: Access to finance; Digital finance; Household consumption (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecofin:v:53:y:2020:i:c:s1062940820301108 DOI: 10.1016/j.najef.2020.101213 Access Statistics for this article The North American Journal of Economics and Finance is currently edited by Hamid Beladi More articles in The North American Journal of Economics and Finance from Elsevier |
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