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Does financial knowledge contribute to the upgrading of the resident's consumption?

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  • Feng, Xinzhen
  • Du, Gang

Abstract

This paper examines the impact of residents' financial knowledge on the scale and structure of their consumption. The survey data of CHFS in 2017, 2019 and 2021 are selected as the research samples. The study finds that: improved financial knowledge can significantly promote consumption upgrading; the impact of financial knowledge on the scale of residents' consumption has a more significant marginal effect in rural households, divided into urban and rural households; the digital financial inclusion index will significantly weaken the positive impact of financial knowledge on the scale and structure of households' consumption.

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  • Feng, Xinzhen & Du, Gang, 2023. "Does financial knowledge contribute to the upgrading of the resident's consumption?," Finance Research Letters, Elsevier, vol. 58(PC).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pc:s1544612323009078
    DOI: 10.1016/j.frl.2023.104535
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    References listed on IDEAS

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    Cited by:

    1. Peng, Yue & Wang, Wei & Zhen, Shangsong & Liu, Yunqiang, 2024. "Does digitalization help green consumption? Empirical test based on the perspective of supply and demand of green products," Journal of Retailing and Consumer Services, Elsevier, vol. 79(C).
    2. Qianwen Liu & Jianjie Zheng & Shihui Luo, 2025. "Digital financial inclusion, population structure, and consumption upgrades: Evidence from China," PLOS ONE, Public Library of Science, vol. 20(1), pages 1-20, January.
    3. Chen, Chuna & Tan, Zhuomin & Liu, Song, 2024. "How does financial literacy affect households’ financial fragility? The role of insurance awareness," International Review of Economics & Finance, Elsevier, vol. 95(C).
    4. 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).
    5. Tao, Miaomiao & Lin, Boqiang & Poletti, Stephen & Pan, Addison, 2024. "Can financial literacy Ease energy poverty? Some Lessons at the household level in China," Utilities Policy, Elsevier, vol. 91(C).
    6. 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).
    7. Wang, Xidong & Liu, Jing, 2024. "The influence mechanism of internet finance on residents’ online consumption," Finance Research Letters, Elsevier, vol. 70(C).
    8. Zhang, Jian & Li, Ting & He, Yuhui & Li, Zhaohui, 2025. "Does land transfer-out facilitate an upgrade in farmers’ consumption," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 2219-2233.

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