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Financial literacy and residents' health levels

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  • Wang, Luanfeng
  • Dang, Chongqing

Abstract

Based on the data from the China Family Panel Studies (CFPS) for 2014, 2016, and 2018, this paper examines the effects of financial literacy on residents' health outcomes. The findings indicate that financial literacy significantly enhances individuals' physical and mental health. Furthermore, financial literacy effectively promotes improvements in health through three distinct pathways: optimizing individuals' time preferences, strengthening their channels for obtaining information, and increasing personal income. Additionally, the health-promoting effect of financial literacy is especially pronounced among vulnerable groups, highlighting its inclusive and equitable nature. This study provides new insights into the determinants of individual health outcomes and offers essential theoretical foundations for governments and relevant agencies to improve public health through financial education, thereby supporting the implementation of the “Healthy China” strategy.

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  • Wang, Luanfeng & Dang, Chongqing, 2025. "Financial literacy and residents' health levels," International Review of Economics & Finance, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:reveco:v:102:y:2025:i:c:s1059056025005246
    DOI: 10.1016/j.iref.2025.104361
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