How Does Digital Finance Affect Farmers'Formal Credit Demand?:Evidence from CHFS
Based on the data of China Household Finance Survey from 2015 to 2019 and the Peking University Digital Financial Inclusion Index,the panel data was constructed.The panel Probit model,instrumental variable method and mechanism test model were used to empirically test the impact of digital finance on the formal credit demand of rural households.It is found that digital finance significantly improves the probability of farmers'productive formal credit demand and consumption formal credit demand.Further research finds that digital finance mainly enhances the productive formal credit demand of households by promoting the accumulation of financial knowledge,while the promotion effect on the consumption formal credit demand is realized through digital payment channels.
digital financecredit demandfinancial literacydigital paymentmechanism test
NETL
NSTL
万方数据
