IDEAS home Printed from https://ideas.repec.org/a/eee/reveco/v103y2025ics1059056025006963.html

E-Commerce in rural areas, financial literacy, and elderly pension security: A quasi-natural experiment based on demonstration counties for E-commerce in rural areas

Author

Listed:
  • Zhang, Qian
  • Gui, Hailan
  • Gong, Xin

Abstract

This paper utilizes microdata from the Comprehensive Survey of Social Conditions in China (CSS) for the years 2015, 2017, 2019, 2021, and 2023, employing econometric methods such as the Probit model, moderation effect model, and heterogeneity analysis to empirically examine the mechanism by which e-commerce's penetration into rural areas and financial literacy affect the pension security of the elderly population. The study finds that the integration of e-commerce into rural areas significantly promotes pension security for the elderly, while financial literacy also effectively enhances their pension security. Moderation effect analysis indicates that financial literacy plays a significant moderating role in the relationship between rural e-commerce and pension security among the elderly, with this moderating effect exhibiting notable heterogeneity across different levels of household debt and marital statuses within the elderly population. The research contributes a fresh understanding of the complex interplay between e-commerce integration in rural settings, individual financial literacy, and the pension security of the elderly. Concurrently, it furnishes empirical evidence crucial for the formulation of policies designed to enhance elder financial stability.

Suggested Citation

  • Zhang, Qian & Gui, Hailan & Gong, Xin, 2025. "E-Commerce in rural areas, financial literacy, and elderly pension security: A quasi-natural experiment based on demonstration counties for E-commerce in rural areas," International Review of Economics & Finance, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025006963
    DOI: 10.1016/j.iref.2025.104533
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1059056025006963
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.iref.2025.104533?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

    for a different version of it.

    References listed on IDEAS

    as
    1. Shulin Xu & Zhen Yang & Zefeng Tong & Yunfeng Li, 2023. "Knowledge Changes Fate: Can Financial Literacy Advance Poverty Reduction In Rural Households?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 68(04), pages 1147-1182, June.
    2. Azra Zaimovic & Anes Torlakovic & Almira Arnaut-Berilo & Tarik Zaimovic & Lejla Dedovic & Minela Nuhic Meskovic, 2023. "Mapping Financial Literacy: A Systematic Literature Review of Determinants and Recent Trends," Sustainability, MDPI, vol. 15(12), pages 1-30, June.
    3. Mohd Daud, Siti Nurazira & Osman, Zaiton & Samsudin, Shamzaeffa & Phang, Ing Grace, 2024. "Adapting to the gig economy: Determinants of financial resilience among “Giggers”," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 756-771.
    4. Yang, Zongzhi & Li, Yali & Wu, Chanti, 2025. "Population aging, fintech, and agricultural economic resilience," International Review of Economics & Finance, Elsevier, vol. 97(C).
    5. Sumit Kumar Maji & Arindam Laha, 2023. "Role of financial and digital literacy in determining digital transaction behaviour: evidence from student level survey in West Bengal (India)," International Journal of Business Environment, Inderscience Enterprises Ltd, vol. 14(2), pages 183-210.
    6. Merkoulova, Yulia & Veld, Chris, 2022. "Why do individuals not participate in the stock market?," International Review of Financial Analysis, Elsevier, vol. 83(C).
    7. Qing Wang & Chengjun Liu & Sai Lan, 2023. "Digital literacy and financial market participation of middle-aged and elderly adults in China," Economic and Political Studies, Taylor & Francis Journals, vol. 11(4), pages 441-468, October.
    8. Zeng, Miao & Du, Jiang & Zhu, Xiaoyu & Deng, Xin, 2023. "Does internet use drive rural household savings? Evidence from 7825 farmer households in rural China," Finance Research Letters, Elsevier, vol. 57(C).
    9. Morshadul Hasan & Thuhid Noor & Jiechao Gao & Muhammad Usman & Mohammad Zoynul Abedin, 2023. "Rural Consumers’ Financial Literacy and Access to FinTech Services," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 780-804, June.
    10. Hu, Debao & Guo, Fang & Shang, Jianing & Zhang, Xinyue, 2024. "Does digital finance increase household risk-taking? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1197-1210.
    11. Xinyan Wei & Ying Liu & Yang Liu, 2023. "Study on the Impact of Internet Usage, Aging on Farm Household Income," Sustainability, MDPI, vol. 15(19), pages 1-16, September.
    12. Baulkaran, Vishaal, 2022. "Personal bankruptcy and consumer credit delinquency: The case of personal finance education," International Review of Financial Analysis, Elsevier, vol. 81(C).
    13. Han, Wei & Zhang, Bo & Li, Wei, 2024. "The constraining impact mechanism of financial cognitive ability on the effective demand for housing reverse mortgages in China," International Review of Financial Analysis, Elsevier, vol. 95(PC).
    14. Qian, Yuting & Tan, Weiqiang & Wu, Jingbo, 2024. "Household financial literacy and retirement planning in rural China," International Review of Financial Analysis, Elsevier, vol. 93(C).
    15. Guo, Wanran & Zhong, Daojun, 2025. "Population aging and regional innovation levels: Based on the mediating effect of research and development inputs," International Review of Financial Analysis, Elsevier, vol. 97(C).
    16. AlSuwaidi, Reem Ahmed & Mertzanis, Charilaos, 2024. "Financial literacy and FinTech market growth around the world," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    Full references (including those not matched with items on IDEAS)

    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. Wang, Luanfeng & Dang, Chongqing, 2025. "Financial literacy and residents' health levels," International Review of Economics & Finance, Elsevier, vol. 102(C).
    2. Zheng, Fengming & Tang, Yu & Jin, Hao, 2025. "Can improvements in life satisfaction promote family fertility? An analysis of the mechanisms and heterogeneity of financial literacy effects," Finance Research Letters, Elsevier, vol. 85(PD).
    3. Liu, Yulin & Li, Hebo & Wang, Cheng, 2025. "Digital financial inclusion and middle-income group vulnerability alleviation: Evidence from China," China Economic Review, Elsevier, vol. 89(C).
    4. Liu, Liang & Ju, Zhen, 2025. "Digital finance and retirement planning: The role of information cost reduction and trust enhancement channels," Economic Modelling, Elsevier, vol. 144(C).
    5. 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).
    6. AlSuwaidi, Reem Ahmed & Mertzanis, Charilaos, 2024. "Financial literacy and FinTech market growth around the world," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    7. Zhuang, Jiqiao & Yang, Shuran, 2025. "Financial literacy, risk attitude, and consumer retirement planning," Finance Research Letters, Elsevier, vol. 84(C).
    8. Qing, Jing & Chen, Juan, 2024. "Digital village construction and its mechanistic on farmer entrepreneurship," Finance Research Letters, Elsevier, vol. 70(C).
    9. Xia, Chunlong & He, Yujuan & Heng, Yuanyuan & Kang, Kabwon & Shenchen, Huiya & Hao, Yuesui & Meng, Zhaojun, 2025. "Pension system reform, financial security, and the well-being of the elderly population: An analysis based on CSS data," International Review of Economics & Finance, Elsevier, vol. 101(C).
    10. Jing, Peng & Zhao, Shuchen & Wang, Minglu, 2025. "From savings to investments: How retirement consumption expectations shape household risky financial asset allocation," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    11. Wei, Xiaobei & Yang, Zongpu & Yan, Yongjun & Sun, Jia, 2024. "Rural E-commerce, Digital finance, and urban–rural common prosperity: A Quasi-natural Experiment Based on China's Comprehensive Demonstration of E-commerce Entering Rural Areas Policy," Finance Research Letters, Elsevier, vol. 69(PB).
    12. He, Jiajie & Ge, Mei, 2026. "Development of inclusive finance, long-term care, and regional elderly care industry: Mechanisms of action and strategic research," Finance Research Letters, Elsevier, vol. 89(C).
    13. Zuo, Jingjing & Han, Lu & Wang, Wei, 2025. "Who is compressing the “dividends” of employees? Research on the impact of population aging on employee treatment," Emerging Markets Review, Elsevier, vol. 69(C).
    14. Xiaozeng Wang & Jiabin Chen & Xingyan Du, 2024. "Understanding the impact of Internet access on farmers' willingness to participate in farmer professional cooperatives," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 70(7), pages 349-361.
    15. Ojah, Kalu & Kodongo, Odongo, 2024. "Effective financial inclusion and the need to put the horse before the cart: Saving!," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    16. repec:zib:zbmmhj:v:3:y:2024:i:2:p:39-44 is not listed on IDEAS
    17. Shanshan Li & Shengyang Sun & Chao Zhang, 2024. "Internet-Based Information Acquisition, Technical Knowledge and Farmers’ Pesticide Use: Evidence from Rice Production in China," Agriculture, MDPI, vol. 14(9), pages 1-14, August.
    18. Aristei, David & Gallo, Manuela & Vannoni, Valeria, 2024. "Preferences for ethical intermediaries and sustainable investment decisions in micro-firms: The role of financial literacy and digital financial capability," Research in International Business and Finance, Elsevier, vol. 71(C).
    19. Benjamin Miranda Tabak & Débora H. Cardoso & Cristiano C. Silva, 2025. "Assessing the Drivers of Financial Vulnerability and Fraud in Brazil: The Critical Role of Financial Planning over Literacy," Sustainability, MDPI, vol. 17(20), pages 1-33, October.
    20. Shao, Chunzi & Chen, Xiaoxin & Liu, Rui & Li, Jiaxin, 2025. "Legal unification, financial regulatory intensity, and the enhancement of economic performance in the Greater Bay Area," International Review of Economics & Finance, Elsevier, vol. 103(C).
    21. 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).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:reveco:v:103:y:2025:i:c:s1059056025006963. 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/inca/620165 .

    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.