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Financial literacy and intergenerational health mobility: Evidence from China

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  • Liu, Kun

Abstract

Using data from the 2014 China Family Panel Studies (CFPS), this study examines the impact of financial literacy on intergenerational health mobility and its underlying mechanisms. Empirical analysis reveals that financial literacy significantly improves offspring health and positively influences intergenerational health mobility. Specifically, greater financial literacy reduces the likelihood of downward health mobility while increasing the likelihood that children attain health levels equal to or better than those of their parents. Mechanism analysis shows that financial literacy promotes household participation in commercial health insurance and increased spending on health-related goods and services. Drawing on these findings, this paper advocates promoting financial literacy education, improving commercial health insurance policies and supporting health investment policies as effective strategies to break the intergenerational cycle of health inequality and advance the goals of “Healthy China.”

Suggested Citation

  • Liu, Kun, 2026. "Financial literacy and intergenerational health mobility: Evidence from China," Finance Research Letters, Elsevier, vol. 94(C).
    • Handle: RePEc:eee:finlet:v:94:y:2026:i:c:s1544612326001790
    DOI: 10.1016/j.frl.2026.109648
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