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Mobile payment and rural household consumption: Evidence from China

Jiaping Zhang, Huirong Zhang and Xiaomei Gong

Telecommunications Policy, 2022, vol. 46, issue 3

Abstract: Exploring effective measures to promote rural household consumption is a challenge for developing countries, where rural areas often face severe financial exclusion and undeveloped commercial services. In this research, the influence of mobile payment, a popular payment method emerging in recent years, on rural household consumption is assessed by adopting China Household Finance Survey of 2017. Estimation results under the instrumental variable method suggest that mobile payment has a statistically significant and facilitating effect on rural household consumption in China. This positive effect is attributed to the benefits of mobile payment in improving financial inclusion and the convenience of consumption activities for rural areas, which is verified by performing several disaggregated analyses in our study. This work provides new evidence for the increasing literature on the economic impact of financial technology and several enlightenments for developing countries to improve the quality of public life through information intervention policies.

Keywords: Rural household consumption; Mobile payment; Financial inclusion; Financial technology (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1016/j.telpol.2021.102276

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