Research on the Impact of Digital Economy on Residents'Consumer Credit:Test Based on Provincial Panel Data
Exploring the potential impact of the digital economy on residents'consumer credit is of great significance for the effective use of consumer credit to promote the recovery and expansion of the consumer market.Based on the panel data of 29 provinces in China from 2012 to 2022,the role of digital economy on the development of residents'consumer credit is empirically analyzed.The results show that the digital economy can significantly promote the growth of residents'consumer credit.The conclusion still holds after endogeneity test using instrumental variable method and robustness test methods such as robust standard error.The mechanism analysis points out that the level of social consumption,disposable income per capita and the level of financial technology are the mediators of the development of the digital economy to promote residents'consumer credit.The heterogeneity study shows that the catalytic effect of the digital economy is stronger in the eastern region,as well as in regions with higher levels of financial development and more developed technological market development.Therefore,it is suggested that digital economy consumption guidance and the construction of digital financial service platforms should be strengthened to attract consumers to the residential consumer credit market.
digital economyconsumer creditfintech levelconsumption level
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