Consumer credit, family education level, and human capital investment

Mulin Li and Bonan Wan

Finance Research Letters, 2025, vol. 80, issue C

Abstract: Using data from the 2018, 2020, and 2022 waves of the China Family Panel Studies, this study systematically examines the impact of consumer credit on household human capital investment and its underlying mechanisms. The findings indicate that consumer credit significantly fosters long-term household investment in human capital, primarily by increasing disposable income and enhancing educational attainment. Further analysis reveals that rural households and those with lower social costs experience a more pronounced impact from consumer credit in their human capital investments.

Keywords: Consumer credit; Human capital investment; Family education level; Family income level (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325005276

DOI: 10.1016/j.frl.2025.107264

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