IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v58y2023ipcs1544612323008322.html
   My bibliography  Save this article

The influence of digital inclusive finance on household wealth: A study based on CHFS data

Author

Listed:
  • Wu, Fan
  • Cui, Fengxiang
  • Liu, Tao

Abstract

We examine the role of digital inclusive finance in promoting household wealth growth at the micro level using the survey data from the China Household Finance Survey and Research Center (CHFS) in 2017, 2019 & 2021. The study finds that: the digital inclusive finance is conducive to the promotion of household wealth growth. Digital inclusive finance can promote the accumulation of household wealth by improving the level of entrepreneurship and optimizing the efficiency of financial asset allocation; and the promotion of digital inclusive finance on household wealth growth strengthens with the increase in the amount of household wealth.

Suggested Citation

  • Wu, Fan & Cui, Fengxiang & Liu, Tao, 2023. "The influence of digital inclusive finance on household wealth: A study based on CHFS data," Finance Research Letters, Elsevier, vol. 58(PC).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323008322
    DOI: 10.1016/j.frl.2023.104460
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612323008322
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2023.104460?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pengpeng Yue & Aslihan Gizem Korkmaz & Zhichao Yin & Haigang Zhou, 2022. "The rise of digital finance: Financial inclusion or debt trap," Papers 2201.09221, arXiv.org.
    2. Banna, Hasanul & Kabir Hassan, M. & Rashid, Mamunur, 2021. "Fintech-based financial inclusion and bank risk-taking: Evidence from OIC countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    3. Kass-Hanna, Josephine & Lyons, Angela C. & Liu, Fan, 2022. "Building financial resilience through financial and digital literacy in South Asia and Sub-Saharan Africa," Emerging Markets Review, Elsevier, vol. 51(PA).
    4. Yue, Pengpeng & Korkmaz, Aslihan Gizem & Yin, Zhichao & Zhou, Haigang, 2022. "The rise of digital finance: Financial inclusion or debt trap?," Finance Research Letters, Elsevier, vol. 47(PA).
    5. Kong, Gaowen & Huang, Jiating & Ma, Guangyuan, 2023. "Anti-corruption and within-firm pay gap: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    6. Ariansyah, Kasmad & Sirait, Emyana Ruth Eritha & Nugroho, Badar Agung & Suryanegara, Muhammad, 2021. "Drivers of and barriers to e-commerce adoption in Indonesia: Individuals’ perspectives and the implications," Telecommunications Policy, Elsevier, vol. 45(8).
    7. Pradhan, Rudra P. & Arvin, Mak B. & Nair, Mahendhiran S. & Hall, John H. & Bennett, Sara E., 2021. "Sustainable economic development in India: The dynamics between financial inclusion, ICT development, and economic growth," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    8. Liu, Shasha & Zhao, Huixian & Kong, Gaowen, 2023. "Enterprise digital transformation, breadth of ownership and stock price volatility," International Review of Financial Analysis, Elsevier, vol. 89(C).
    9. Ayse Demir & Vanesa Pesqué-Cela & Yener Altunbas & Victor Murinde, 2022. "Fintech, financial inclusion and income inequality: a quantile regression approach," The European Journal of Finance, Taylor & Francis Journals, vol. 28(1), pages 86-107, January.
    10. Xu, Xiaoyan, 2020. "Trust and financial inclusion: A cross-country study," Finance Research Letters, Elsevier, vol. 35(C).
    11. Li, Jie & Wu, Yu & Xiao, Jing Jian, 2020. "The impact of digital finance on household consumption: Evidence from China," Economic Modelling, Elsevier, vol. 86(C), pages 317-326.
    12. Wang, Xiong & Wang, Xiao & Ren, Xiaohang & Wen, Fenghua, 2022. "Can digital financial inclusion affect CO2 emissions of China at the prefecture level? Evidence from a spatial econometric approach," Energy Economics, Elsevier, vol. 109(C).
    13. Huang, Ruixian & Kale, Seenaiah & Paramati, Sudharshan Reddy & Taghizadeh-Hesary, Farhad, 2021. "The nexus between financial inclusion and economic development: Comparison of old and new EU member countries," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 1-15.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guo, Dong & Li, Lin & Pang, Guoguang, 2024. "How does digital inclusive finance affect county's common prosperity: Theoretical and empirical evidence from China," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 340-358.
    2. Wang, Pengcheng & Yang, Xuelin, 2024. "Social trust and household financial decision-making: An empirical study based on the usage of household financial technology," Finance Research Letters, Elsevier, vol. 70(C).
    3. Liu, Chenyingzi & Zhang, Lei, 2024. "Retirement, confucian culture, and household financial asset allocation for older adults," International Review of Economics & Finance, Elsevier, vol. 95(C).
    4. Xiong, Wei & Jiang, Mengzhen & Liu, Yingying, 2024. "Digital economy, risk attitudes, and entrepreneurial decision-making in urban and rural households in China," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    5. Dong, Jingxuan, 2024. "Digital finance’s impact on household portfolio diversity: Evidence from Chinese households," Finance Research Letters, Elsevier, vol. 70(C).
    6. Qing, Jing & Chen, Juan, 2024. "Digital village construction and its mechanistic on farmer entrepreneurship," Finance Research Letters, Elsevier, vol. 70(C).
    7. Qiong Shen & Rui Wu & Yuxi Pan & Yanchao Feng, 2024. "Explaining and modeling the impacts of inclusive finance on CO2 emissions in China integrated the intermediary role of energy poverty," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-19, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Luo, Lei, 2024. "Digital financial inclusion, educational attainment and household consumption," Finance Research Letters, Elsevier, vol. 68(C).
    2. Lee, Chien-Chiang & Lou, Runchi & Wang, Fuhao, 2023. "Digital financial inclusion and poverty alleviation: Evidence from the sustainable development of China," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 418-434.
    3. Foguesatto, Cristian Rogério & Righi, Marcelo Brutti & Müller, Fernanda Maria, 2024. "Is there a dark side to financial inclusion? Understanding the relationship between financial inclusion and market risk," The North American Journal of Economics and Finance, Elsevier, vol. 72(C).
    4. Lu, Xiaomeng & Zhang, Xianjun & Guo, Jiaojiao & Yue, Pengpeng, 2024. "Digital finance era: Will individual investors become better players?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    5. Shen, Hongshan & Qin, Mengyao & Li, Tianyi & Zhang, Xuan & Zhao, Yang, 2024. "Digital finance and industrial structure upgrading: Evidence from Chinese counties," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    6. Yangjie Liao & Xiaokun Zhou, 2023. "Can Digital Finance Contribute to Agricultural Carbon Reduction? Evidence from China," Sustainability, MDPI, vol. 15(22), pages 1-20, November.
    7. Choudhary, Priya & Thenmozhi, M., 2024. "Fintech and financial sector: ADO analysis and future research agenda," International Review of Financial Analysis, Elsevier, vol. 93(C).
    8. Zhan, Zhihao & Zhang, Anqi & Zhang, Mingxin & Zhang, Mingxin, 2024. "Unveiling the adverse selection problem in China's digital lending market: Evidence from CHFS," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    9. Yue, Sishi & Yang, Mo & Dong, Dayong, 2024. "Do enterprises adopting digital finance exhibit higher values? Based on textual analysis," The North American Journal of Economics and Finance, Elsevier, vol. 73(C).
    10. Ye, Xiang & Yue, Pengpeng, 2024. "What matters to reshaping consumption patterns in China? Digital inclusion and supply chain," Finance Research Letters, Elsevier, vol. 59(C).
    11. Xu, Dandan & Guo, Dongli & Yue, Pengpeng & Li, Mengshi, 2024. "Household green consumption: Does digital inclusion matter?," International Review of Financial Analysis, Elsevier, vol. 91(C).
    12. repec:rza:wpaper:893 is not listed on IDEAS
    13. Choung, Youngjoo & Chatterjee, Swarn & Pak, Tae-Young, 2023. "Digital Financial Literacy and Financial Well-Being," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Journal P, pages 1-1.
    14. Avani Raval & Rajesh Desai, 2024. "Reviews and directions of FinTech research: bibliometric–content analysis approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 1115-1134, September.
    15. Xing, Qiuhang & Xu, Gaoshuang & Wang, Yanping, 2024. "Open government data and the cost of debt," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    16. Hu, Debao & Zhai, Chenzhe & Zhao, Sibo, 2023. "Does digital finance promote household consumption upgrading? An analysis based on data from the China family panel studies," Economic Modelling, Elsevier, vol. 125(C).
    17. Yuting Shi & Qiuwang Cheng & Yizhen Wu & Qiaohua Lin & Anxin Xu & Qiujin Zheng, 2023. "Promoting or Inhibiting? Digital Inclusive Finance and Cultural Consumption of Rural Residents," Sustainability, MDPI, vol. 15(3), pages 1-21, February.
    18. Wang, Jianqiu & Yin, Zhichao & Jiang, Jialing, 2023. "The effect of the digital divide on household consumption in China," International Review of Financial Analysis, Elsevier, vol. 87(C).
    19. Cheng, Hang & Ruan, Ping & Wang, Peng, 2024. "The impact of surging computing power on enterprise digital transformation–Based on quasi-natural experiments set up by the National Supercomputing Center," Finance Research Letters, Elsevier, vol. 65(C).
    20. Behice Canatan & Ayşe Akboz Caner & Gökhan Özbilge, 2024. "Dynamics of Digital Financial Inclusion in Türkiye," Istanbul Business Research, Istanbul University Business School, vol. 53(2), pages 185-200, September.
    21. Adugna, Hailu, 2024. "Fintech dividend: How would digital financial services impact income inequality across countries?," Technology in Society, Elsevier, vol. 77(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323008322. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.