金融科技赋能下的互联网消费金融与家庭消费行为

Internet Consumer Finance and Household Consumption Behavior Empowered by Fintech

摘要: 本文采用西南财经大学2013~2019中四年的中国家庭金融调查数据(CHFS)，通过面板回归和固定效应模型，在金融科技大背景下全面研究互联网消费金融与居民家庭消费行为的关系，实证探究了互联网消费金融总指数与其五个细分指数对居民家庭消费支出和消费结构的影响效果。研究结论如下：(1) 总效应回归中，互联网消费金融显著增加家庭消费支出并促进家庭消费升级；(2) 影响机制回归中，五个指数都对家庭消费支出有积极影响，只有互联网信贷作用不显著。此外，互联网支付和互联网货币基金显著促进家庭消费升级，而互联网信贷、互联网保险和互联网投资显著抑制家庭消费升级。最后，本文针对以上研究结论给出了相应建议。

Abstract: This paper adopts the China Household Finance Survey (CHFS) data of Southwestern University of Finance and Economics from 2013 to 2019, and comprehensively studies the relationship between Internet consumer finance and household consumption behavior in the context of fintech through panel regression and fixed effect model. This paper empirically explores the effect of Internet consumer finance index and its five sub-indexes on household consumption expenditure and consumption structure. The research conclusions are as follows: (1) In the total effect regression, Internet consumer finance significantly increases household consumption expenditure and promotes the upgrading of household consumption; (2) In the regression of influence mechanism, all the five indexes have a positive impact on household consumption expenditure, and only the effect of Internet credit is not significant. In addition, Internet payment and Internet monetary fund significantly promote household consumption upgrading, while Internet credit, Internet insurance and Internet investment significantly inhibit household consumption upgrading. Finally, this paper gives corresponding suggestions based on the above research conclusions.