Financial Attention and Household Consumption Upgrading

Han Li and Rui Zhang ()
Additional contact information
Han Li: Office of Academic Affairs, Chengdu University of Technology, Chengdu 610059, China
Rui Zhang: School of Mathematical Sciences, Chengdu University of Technology, Chengdu 610059, China

IJFS, 2025, vol. 13, issue 2, 1-19

Abstract: Based on data from the China Household Finance Survey (CHFS) conducted in 2019, this paper conducted an in-depth study on the impact and mechanism of financial attention on household consumption upgrading. The study found that an increase in financial attention can help to promote household consumption upgrading, and the result was still robust after using the instrumental variable method and substituting the explained variables. The mechanism analysis showed that financial attention can affect household consumption upgrading by influencing credit constraint and risk sharing. Heterogeneity analysis showed that the promotion effect of financial attention on consumption upgrading was significant in middle- and high-income households, high-financial-literacy households, and households living in first-tier cities.

Keywords: financial attention; consumption upgrading; credit constraints; risk sharing; financial market participation (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2227-7072/13/2/95/pdf (application/pdf)
https://www.mdpi.com/2227-7072/13/2/95/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jijfss:v:13:y:2025:i:2:p:95-:d:1669763

Access Statistics for this article

IJFS is currently edited by Ms. Hannah Lu

More articles in IJFS from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().