Digital economic development, financial literacy and household cultural consumption

Xinyu Xu and Liying Lei

Finance Research Letters, 2025, vol. 83, issue C

Abstract: Based on data from the China Family Panel Studies (CFPS) spanning 2018–2022, this paper investigates the impact of digital economy development on household cultural consumption expenditures and its underlying mechanisms. The findings reveal that urban digital economy development indices significantly promote per capita cultural consumption expenditures. Mediation effect analysis demonstrates that digital economy advancement enhances residents' financial literacy, which strengthens their awareness of and engagement in cultural consumption, thereby increasing cultural spending. Regional heterogeneity analysis shows that the digital economy most significantly boosts cultural consumption in eastern and western China, followed by central regions, while no notable effect is observed in northeastern areas.\

Keywords: Digital economy; Financial literacy; Household cultural consumption expenditures (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325009468

DOI: 10.1016/j.frl.2025.107687

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