The effects of online consumer credit on household consumption level and structure: Evidence from China

摘要

Using data from the China Household Finance Survey (CHFS) in 2017, this paper examines the association between access to online consumer credit and household consumption. We find that online consumer credit has a significantly positive relationship with household consumption. Heterogeneity analysis shows that the relationship between online consumer credit and household consumption is more obvious among poorer households and households resided in less developed areas, which partially reflects the inclusiveness of online consumer credit. Further analysis shows that online consumer credit mainly increases the expenditures of large-sum and non-daily items, which suggests that online consumer credit has promoted consumption upgrading of households.