IDEAS home Printed from https://ideas.repec.org/a/plo/pone00/0287292.html
   My bibliography  Save this article

Aging population and digital inclusive finance, a natural experiment from china

Author

Listed:
  • Jinghong Zhou
  • Xixi Ye

Abstract

This paper studies the role played by the digitization level of inclusive finance for the aging population. We leverage an unexpected Chinese national strategy that promotes mobile internet and other internet related integration in China to identify the impact of changes in state policies on the digitization level for inclusive finance in a regression discontinuity design. Although aging population is negatively correlated with the digitization level of inclusive finance, our empirical analysis reveals that the policy shock significantly increased the digitization level of inclusive finance among the aging population. We also find two opposite mechanisms: the income effect and the caring effect. Finally, our study suggests that the economic and social outcomes of the digitization level among aging population are bifurcated: happiness decreased but real estate investment increased.

Suggested Citation

  • Jinghong Zhou & Xixi Ye, 2023. "Aging population and digital inclusive finance, a natural experiment from china," PLOS ONE, Public Library of Science, vol. 18(11), pages 1-21, November.
    • Handle: RePEc:plo:pone00:0287292
    DOI: 10.1371/journal.pone.0287292
    as

    Download full text from publisher

    File URL: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0287292
    Download Restriction: no
    File URL: https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0287292&type=printable
    Download Restriction: no
    File URL: https://libkey.io/10.1371/journal.pone.0287292?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
    ---><---

    References listed on IDEAS

    as
    1. Gradstein, Mark & Kaganovich, Michael, 2004. "Aging population and education finance," Journal of Public Economics, Elsevier, vol. 88(12), pages 2469-2485, December.
    2. Su, Chi-Wei & Cai, Xu-Yu & Qin, Meng & Tao, Ran & Umar, Muhammad, 2021. "Can bank credit withstand falling house price in China?," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 257-267.
    3. David S. Lee & Thomas Lemieux, 2010. "Regression Discontinuity Designs in Economics," Journal of Economic Literature, American Economic Association, vol. 48(2), pages 281-355, June.
    4. Ayse Demir & Vanesa Pesqué-Cela & Yener Altunbas & Victor Murinde, 2022. "Fintech, financial inclusion and income inequality: a quantile regression approach," The European Journal of Finance, Taylor & Francis Journals, vol. 28(1), pages 86-107, January.
    5. Ueli Grob & Stefan C. Wolter, 2007. "Demographic Change and Public Education Spending: A Conflict between Young and Old?," Education Economics, Taylor & Francis Journals, vol. 15(3), pages 277-292.
    6. Chao Li & Lin Wang & Rundong Luo & Guangjie Ning & Peiya Zhao & Xiaoning Yu & Faheem Aslam, 2022. "Complexity between Aging and the Structure of Financial Market: Empirical Evidence from Microdata," Complexity, Hindawi, vol. 2022, pages 1-15, March.
    7. Gianni Carbonaro & Eugenio Leanza & Philip McCann & Francesca Medda, 2018. "Demographic Decline, Population Aging, and Modern Financial Approaches to Urban Policy," International Regional Science Review, , vol. 41(2), pages 210-232, March.
    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. Gianko Michailidis & Concepció Patxot & Meritxell Solé, 2019. "Do pensions foster education? An empirical perspective," Applied Economics, Taylor & Francis Journals, vol. 51(38), pages 4127-4150, August.
    2. Francisco Martínez-Mora, 2009. "Population ageing, inequality and the political economy of public education," Discussion Papers in Economics 09/3, Division of Economics, School of Business, University of Leicester.
    3. Tosun, Mehmet Serkan, 2008. "Endogenous fiscal policy and capital market transmissions in the presence of demographic shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 2031-2060, June.
    4. Mehmet S. Tosun, 2015. "Retiree migration and intergenerational conflict," IZA World of Labor, Institute of Labor Economics (IZA), pages 118-118, January.
    5. Cattaneo, M. Alejandra & Wolter, Stefan C., 2009. "Are the elderly a threat to educational expenditures?," European Journal of Political Economy, Elsevier, vol. 25(2), pages 225-236, June.
    6. Helmut Seitz & Gerhard Kempkes, 2007. "Fiscal Federalism and Demography," Public Finance Review, , vol. 35(3), pages 385-413, May.
    7. Lars-Erik Borge & Jørn Rattsø, 2007. "Young and old competing for public welfare services," Working Paper Series 8607, Department of Economics, Norwegian University of Science and Technology.
    8. Bernardino Benito & María-Dolores Guillamón & Ana-María Ríos, 2017. "The electoral budget cycle on municipal waste collection expenditure," Applied Economics, Taylor & Francis Journals, vol. 49(41), pages 4161-4179, September.
    9. Niklas Potrafke, 2006. "Parties Matter in Allocating Expenditures: Evidence from Germany," Discussion Papers of DIW Berlin 652, DIW Berlin, German Institute for Economic Research.
    10. Casamatta, G. & Batté, L., 2016. "The Political Economy of Population Aging," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 381-444, Elsevier.
    11. ZAPJI YMELE Aime Philombe, 2024. "Human Capital Productivity and "ageing" Expenditure: An OECD Study," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 14(3), pages 1-1.
    12. Ulrich Oberndorfer & Viktor Steiner, 2007. "Generationen‐ oder Parteienkonflikt? Eine empirische Analyse der deutschen Hochschulausgaben," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(2), pages 165-183, March.
    13. Helmut Seitz & Dirk Freigang & Sören Högel & Gerhard Kempkes, 2007. "Die Auswirkungen der demographischen Veränderungen auf die Budgetstrukturen der öffentlichen Haushalte," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(2), pages 147-164, March.
    14. Hauzenberger, Niko & Huber, Florian & Klieber, Karin & Marcellino, Massimiliano, 2025. "Bayesian neural networks for macroeconomic analysis," Journal of Econometrics, Elsevier, vol. 249(PC).
    15. Darolia, Rajeev, 2013. "Integrity versus access? The effect of federal financial aid availability on postsecondary enrollment," Journal of Public Economics, Elsevier, vol. 106(C), pages 101-114.
    16. Lehmann, M. Christian & Matarazzo, Hellen, 2019. "Voters’ response to in-kind transfers: Quasi-experimental evidence from prescription drug cost-sharing in Brazil," Economics Letters, Elsevier, vol. 184(C).
    17. Gonzalez-Eiras, Martín & Niepelt, Dirk, 2012. "Ageing, government budgets, retirement, and growth," European Economic Review, Elsevier, vol. 56(1), pages 97-115.
    18. Persson, Petra & Qiu, Xinyao & Rossin-Slater, Maya, 2021. "Family Spillover Effects of Marginal Diagnoses: The Case of ADHD," IZA Discussion Papers 14020, Institute of Labor Economics (IZA).
    19. Ono, Tetsuo & Uchida, Yuki, 2018. "Human capital, public debt, and economic growth: A political economy analysis," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 1-14.
    20. Eibich, Peter & Siedler, Thomas, 2020. "Retirement, intergenerational time transfers, and fertility," European Economic Review, Elsevier, vol. 124(C).

    More about this item

    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:plo:pone00:0287292. 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: plosone (email available below). General contact details of provider: https://journals.plos.org/plosone/ .

    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.