Expanding domestic demand and unleashing consumption potential are important contents in promoting sustainable and healthy economic development.From the two aspects of resident subjective psychological feeling and resident effort degree,this study analyzes the action mechanism of loaning on consumption,evaluates the action effect of loaning behavior on resident consumption by using such methods as fixed effect,instrumental variable and endogenous transformation model,and empirically analyzes the impact of resident household loaning behavior on household consumption.The empirical results show that loaning behavior significantly improves household consumption levels,and the research conclusions still hold true after potential endogeneity issues are considered and a series of robustness tests are conducted.The mechanism analysis results show that loaning behavior increases household consumption expenditure through such channels as reducing subjective psychological satisfaction and increasing individual effort degree.The heterogeneity analysis results indicate that loaning behavior has a greater impact on household-development and enjoyment-oriented consumption,but a smaller impact on household production-oriented consumption,while housing loaning has a more significant effect on promoting household consumption.The above research conclusions provide a new empirical basis for understanding the consumption-promoting effect of household loaning,provide a theoretical basis for the government to popularize consumption credit and expand domestic demand,and meanwhile provide a new reference for relevant departments to formulate consumption-boosting policies.
关键词
借贷行为/消费支出/扩大内需/幸福感/消费类型
Key words
loaning behavior/consumption expenditure/domestic demand expansion/sense of happiness/consumption type
维普
万方数据