The Impact of County-level Bank Competition on Peasant Households'Lives
Financial development has significant social effects and is an important driving force in achieving the goals of"social etiquette and civility"and"effective governance"within the rural revitalization strategy.County-level bank competition is a concentrated reflection of rural financial development.By studying the impact mechanism of county-level bank competition on rural households'lives,we can more specifically explain the micro-social effects of financial development,which has positive policy implications for better leveraging finance to serve the rural revitalization strategy.By matching micro-level survey data of households with the level of county-level bank competition and relevant economic variables,this paper employs OLS regression as the baseline analysis.Additionally,the number of penalty documents issued by the local banking regulatory authority is introduced as an instrumental variable in instrumental variable regression to mitigate endogeneity issues.Furthermore,this paper conducts robustness checks,heterogeneity analysis,and mechanism tests.It is found that county-level bank competition can lead to a rationalization and formalization of rural households'attitudes and daily behaviors.It also enhances emotional connections within these"small family".However,the influence on rural households'mental well-being exhibits certain complexities,and the impact of bank competition on their mental health remains uncertain.As significant modern economic organizations,county-level banks subtly and implicitly shape rural household life through their embeddedness in market competition within rural communities.To some extent,they facilitate the modernization transformation of traditional rural communities and rural household life.
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