| China has maintained rapid economic growth for a long time, and this rapid economic growth has brought unprecedented prosperity to our country. However, the risk behind the rapid growth should not be overlooked.Import and export trade has played an important part in the growth of China’s economy, and it has been the main driving force of China’s economy for a long time. However, with the arrival of the post financial crisis era and the changing domestic and international economic environment, some unfavorable situation occurs. For example, external demand is getting weakening, labor costs keep rising, which made China’s the traditional advantage on export got weakened. Therefore, the stimulating effect of import and export trade of China’s economic growth is declining. To promote China’s economic growth, it is important to increase domestic consumption and investment. Insufficient domestic demand has always been a big problem of China’s economic growth. Therefore, increasing domestic demand is of great urgency.Hence, it is of great value to study how does the bank card payment facilitate residents’consumption and how could it make contribution to the economic growth. This paper will provide a reference to the government for fiscal and monetary policies making, which will help to promote the increase of residents’ consumption.Firstly, based on the actual situation of domestic bank card and the theory of the consumer behavior, this paper develop a comprehensive analysis of the development of China’s bank card as well as the main factors that affect consumer behavior. Taking consumer theory, behavioral economics and consumer credit theory as reference background, this paper studies how do the bank card payment promote residents’consumption. Secondly, based on the logic relation of bank card and consumption, this paper selects penetration rate of bank cards, social security density, index of consumer expectations, the residents’spending habit, the rate of income change as variables, collecting data of Sichuan province, and develops the empirical study of the relation of bank card payment and consumption. This paper establishes an econometric model, makes quantative analysis of impact between bank card payment and residents’ consumption and gets a result that there is a stable equilibrium relation between bank card payment and residents’consumption. Then, this paper uses Cointegration test and Granger causality test to verify the correctness of the empirical result, and proves the result is right. Lastly, based on the overall analysis of the empirical result, this paper explores the route that how does bank card affect residents’consumption, thereby makes some suggestions to fiscal and monetary policy making and the development of non-cash settlement tools system, which may help the increase of residents’consumption. |
