 Peer effects in digital inclusive finance participation decisions: Evidence from rural ChinaWenyi Lyu, Leng Yu and Jiajun Zhang Technological Forecasting and Social Change, 2024, vol. 208, issue C Abstract: Digital inclusive finance (DIF) has emerged as a powerful tool for promoting economic development and eliminating regional imbalances. Many studies have discussed different approaches to expand the coverage rate and increase the participation rate of DIF in developing countries. This study employs a binary choice model with rational heterogeneous expectations utilizing data from CHFS to examine the impact of peer effects on DIF participation choices in rural China. The findings indicate that peers' participation choices in DIF have a positive impact on the individual's participation choices in DIF, primarily through an information transmission mechanism. Moreover, the regional economy effects are explicitly demonstrated since the progress of DIF in more advanced communities may produce a unidirectional spillover effect on less advanced communities. Based on these results, policy implications are recommended to enhance financial education and construct financial wellness programs. Keywords: Peer effects; Decision-making; Digital inclusive finance; Regional economy effects; Binary choice model with heterogeneous expectations (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:tefoso:v:208:y:2024:i:c:s0040162524004438 DOI: 10.1016/j.techfore.2024.123645 Access Statistics for this article Technological Forecasting and Social Change is currently edited by Fred Phillips More articles in Technological Forecasting and Social Change from Elsevier |
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