| China has been a society that respects human kindness since ancient times,and nowadays,one of the essential consumption in China’s rural social relations is still human kindness consumption,and this traditional concept constantly influences the social interaction behavior of rural residents.Rational and moderate consumption of favors can play a role in maintaining good social relations,strengthening communication and lubricating relationships.However,with the increasing income of people,cultural changes and some psychological changes,the consumption of favors has become more and more common nowadays,and its instrumental character is becoming more and more obvious,even slowly starting to spread to younger groups.In order not to be embarrassed in the acquaintance society,i.e.to be caught in the phenomenon of not wanting to participate but having to participate,many families also started to take advantage of the convenience brought by financial inclusion.In recent years,digital financial inclusion has developed rapidly,especially under the huge impact of the new coronavirus epidemic,some places may be relatively closed,while digital financial inclusion can break through different geographical restrictions and continue to bring relatively efficient and convenient financial services and financial products to different customer groups through online,which enables rural families to obtain financial resources through financial lending and other actions.This enables rural households to obtain funds through financial borrowing and other actions in order to cope with the consumption of favors that are necessary for various reasons.Based on this,this paper focuses on answering the following questions: Does digital inclusive finance promote rural human consumption? Through what mechanism does digital inclusive finance affect rural human consumption? Does digital inclusive finance promote rural human consumption because of certain geographical differences?Based on the research of related literature at home and abroad,this paper adopts a combination of theoretical and empirical analysis to study the impact of digital inclusive finance on rural human consumption.First,the concepts of digital inclusive finance and rural human consumption are defined;the relevant hypotheses are proposed by combining digital inclusive finance theory and related consumption theory,and then this paper constructs a relevant model by combining the digital inclusive finance index of Peking University from 2013 to 2019 and the questionnaire survey data of CHFS in 2013,2015,2017 and 2019,and empirically analyzes the impact of digital inclusive finance on rural human consumption using OLS model The impact of digital inclusive finance on rural human consumption is analyzed,and two related variables,rural human consumption and the proportion of human consumption to total household expenditure,are set to deeply explore the impact of digital inclusive finance on rural human consumption,and the heterogeneity analysis of eastern,central and western China is conducted,in addition,the moderating and mediating effects are introduced to investigate the transmission of digital inclusive finance affecting rural human consumption and its proportion to total expenditure In addition,moderating and mediating effects are introduced to verify the transmission mechanism of digital financial inclusion affecting rural favor consumption and its proportion of total expenditure.Three main conclusions are drawn in this paper.First,digital inclusive finance can promote rural human consumption expenditure and the proportion of human consumption to total expenditure.Specifically,when the level of digital inclusive finance increases by one unit,rural human consumption expenditure increases by 13.80%,and the proportion of rural human consumption to total expenditure increases by 1.00%.From the increase of the proportion of rural human consumption to total expenditure,it indicates that rural households may have used the services of digital inclusive finance to over-consume human consumption,which makes the proportion of human consumption to total expenditure increase continuously.From a regional perspective,digital inclusive finance has a significant contribution to both rural human consumption and the proportion of human consumption to total expenditure in the eastern and western regions,while it is not significant for the central region.Second,the improvement of digital financial inclusion can promote the growth of rural human consumption expenditure and human consumption as a percentage of total expenditure by increasing household income pathways.In the model of rural human consumption expenditure,household income plays a part of the mediating effect,accounting for 11.48% of the total mediating effect;in the model of rural human consumption expenditure as a share of total expenditure,household income also plays a mediating effect,accounting for 23.55% of the direct effect.Third,the liquidity constraint positively moderates the effect of digital inclusive finance level on rural human consumption expenditure,i.e.,the effect of digital inclusive finance on rural human consumption is related to the liquidity constraint. |
