Study on the Happiness Effect of Rural Digital Finance
Based on the 2017 China Household Finance Survey(CHFS)data,this paper examines the impact of digital finance on the happiness of rural residents.It mainly uses the Ordered Probit model to empirically analyze the impact effects,mechanisms,and group differences of digital finance on the happiness of rural residents in China.The research results show that digital finance can significantly improve the happiness of rural residents.Compared with households that do not use digital finance,the probability of feeling"very unhappy","unhappy"and"average"decreased by 0.3%,0.7%,and 1.7%for households that use digital finance,and they feel"happy"and"very happy"will increase the probability of 0.3%and 2.4%.At the same time,after sample screening,propensity score matching(PSM),and instrumental variable methods were used to address endogeneity,the conclusion is still robust.In terms of the mechanism of action,the verification of the mediating effect model found that digital finance mainly promotes the happiness of rural residents through three paths:Increasing the income level of rural residents(absolute income),promoting consumption upgrades,and strengthening financial market participation.The effect of digital finance on the happiness of rural residents mainly occurs in the central and western regions,households with a high proportion of women,educated families,and low and middle-income groups.
digital financerural residents'happinessdigital dividefinancial market participation
NETL
NSTL
万方数据
