Effects of digital financial inclusion on promoting household tourism consumption and mechanism
Promoting tourism consumption is the key to boosting consumption,fostering complete domestic de-mand,and building a new development paradigm based on a large domestic circulation.The paper provides a the-oretical analysis of the mechanisms and effects of digital financial inclusion in promoting household travel con-sumption,and empirical tests using panel fixed-effects models using China Family Panel Studies(CFPS)data and Peking University's Digital Financial Inclusion Index.The study finds that:1)Digital financial inclusion has a significant positive contribution to household travel consumption in China,and this finding still holds after a se-ries of robustness tests.2)Mechanism tests show that the alleviation of liquidity constraints,the enhancement of payment convenience,and the reduction of uncertainty are important channels through which digital financial in-clusion promotes household travel consumption.3)Heterogeneity analysis of demographic characteristics shows that the younger and more educated the head of household under the age of 60 is,the more pronounced is the contribution of digital financial inclusion to their household travel consumption.4)The analysis of geographic re-gional heterogeneity shows that tourism consumption in central and western regions and rural households is sig-nificantly promoted by the effect of digital financial inclusion,while tourism consumption in eastern regions and urban households is not significantly affected by digital financial inclusion.The findings of this paper provide an important policy reference for the application of digital financial inclusion to unleash the potential of tourism consumption.
digital financial inclusionhousehold travel consumptionuncertaintyease of paymentliquidity constraints
万方数据
维普
