Digital Finance Development and Household Leverage in China: Evidence from the CFPS

Shaojun Huang

《World Scientific Research Journal》 7卷2期 (2021/02) Pp. 103-107

https://doi.org/10.6911/WSRJ.202102_7(2).0014

摘要

The Internet‐based technological revolution is promoting the development of digital finance, which has a great impact on residents' economic behavior and may promote the household leverage. Based on balanced panel data from the China Family Panel Studies (CFPS) in 2012, 2014, 2016, and 2018 and the Digital Inclusive Financial Index developed by Peking University, by using the OLS and two‐way fixed‐effect models, this study examined impacts of the development of digital finance on household leverage. We found that the development of digital finance could significantly increase household leverage rate. Results shows that if digital financial index increase by 1%, household leverage will increase by 1.9%, which is significant.

關鍵字

Digital finance ； Household leverage ； CFPS

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