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

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.