Examining the Micro Effects of Credit Access on the Upgrading of Rural Household Consumption Structures:An Empirical Analysis Using CFPS Data
This study utilizes data from six rounds of the China Family Panel Studies(CFPS)conducted between 2010 and 2020,employing a two-way fixed-effects model to empirically assess the impact of credit access on the upgrading of rural households'consumption structure and the underlying mechanisms at play.The findings indicate that credit access significantly promotes the upgrading of consumption structures among rural households by increasing their operating income and reducing precautionary sav-ings.Further analysis reveals that credit access facilitates enjoyment-oriented consumption while decreasing subsistence con-sumption.Notably,household equipment expenditure emerges as a key mediator in the relationship between credit access and im-provements in consumption structure.Additionally,from the perspective of household life cycle stages,credit access enhances consumption structure improvements during stable periods,while its effects weaken during more burdensome times.Therefore,it is crucial for the government and financial institutions to continue improving credit accessibility as a financial tool to maximize its positive influence on the consumption patterns of rural households.
万方数据
