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Empirical research on the acceptance of digital finance and consumption patterns among middle-aged and elderly people in rural areas: The impact mechanism of life satisfaction and income level

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  • Liu, Tifeng
  • Shi, Guoqing
  • Gu, Fei
  • Xu, Junzhuo

Abstract

This paper delves into the intricate interplay between population aging and digital adoption, focusing on its impact on consumption patterns among rural middle-aged and elderly populations. Utilizing a robust dataset from the CHARLES survey spanning 2015 to 2021, our empirical analysis reveals a notable positive correlation between the aging process and consumption levels within this demographic. Furthermore, we uncover that increased Internet usage acts as a catalyst, significantly boosting consumption among rural middle-aged and elderly individuals. Life satisfaction is identified as a crucial factor mediating the relationship between Internet usage and consumption, highlighting its importance in understanding this dynamic. Additionally, our findings indicate that the positive effect of population aging on consumption is more pronounced in high-income households. Household income level is also found to positively moderate the link between Internet usage and consumption, suggesting that higher incomes amplify the beneficial impact of digital adoption. By shedding light on these underlying mechanisms, our research contributes valuable insights to the understanding of contemporary rural socio-economic trends and provides a solid groundwork for the formulation of targeted rural consumption policies.

Suggested Citation

  • Liu, Tifeng & Shi, Guoqing & Gu, Fei & Xu, Junzhuo, 2025. "Empirical research on the acceptance of digital finance and consumption patterns among middle-aged and elderly people in rural areas: The impact mechanism of life satisfaction and income level," Finance Research Letters, Elsevier, vol. 79(C).
    • Handle: RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005458
    DOI: 10.1016/j.frl.2025.107282
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    References listed on IDEAS

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    1. Ji, YanLong & Li, JinYe, 2025. "Population aging, digital economy and family tourism consumption," Finance Research Letters, Elsevier, vol. 82(C).

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