Empirical Research On The Impact Of Consumer Credit On Consumer Demand

Since the combination of several kinds of factors,such as economic transformation trend,policy reform and the change of consuming behavior,it brings our country historic opportunity to develop consumer credit and enhance consumer demand.Based on currently available documents,this dissertation initially analyzes the overall conditions of consumer credit,consumer demands and economic development at our national level,and has a relatively direct idea.On this basis,the dissertation put the viewing angle at regional level of China(provincial level),constructing provincial panel data model of China,inspecting how the scale and the structure of consumer credit impact the scale and structure of consumer demands.respectively.Besides,by means of expanding analysis,the dissertation inspects how consumer credit drives consumer demands,and then affects economic development indirectly from scale and structural dimensions,thereby forming a comparatively uniform and integrated analysis framework.The research shows that the regional consumption level and consumption scale will be lifted by increasing the resources of residential consumption loans.Through increasing the supply of individual consumption loans,the proportion of personal consumption loans will be promoted in total loan volume,which will enhance the proportion of residents' consumption in final consumption and expand residents' consumer demands.In the meantime,consumer credit drives consumer demands and further impacts economic development mainly from scale dimension,from which the structural dimension is not significant.In this paper,there are three policy implications.Firstly,by increasing consumption loans,consumer demands will be expanded.Meanwhile,under the condition of total loan limit,the government can guide resident department to raise the proportion of consumption in total consumption expenditure,and improve residents' consumer demands,optimizing the structure of consumption expenditure.Secondly,in order to drive consumption demands and further boost the regional economic development indirectly,the government shall implement some policies on the scale of credit resources.It will produce very little effect by simply adjusting the proportion of individual consumption loans.Thirdly,consumer credit can extend monetary and credit policy to consumption field,establishing consumer-oriented economic growth mode,which will be beneficial to enhance consuming tendency,expand domestic demand,adjust and optimize the economic structure of our country.Finally,healthy and rapid development of consumer credit industry in China will play a vital role in transformation of economic structure of China.