Research On The Impact Of Consumer Finance On The Consumption Behavior Of Urban Residents In China

Consumer finance,as an important means of promoting residents’ consumption,is beneficial for expanding residents’ consumption demand and promoting the improvement of consumption expenditure levels.At the same time,it can smooth consumption across periods,enabling residents to meet their demand for large durable or higher-level goods and services;On the other hand,from the supply side perspective,consumer finance achieves resource integration through the interaction between insurance,investment,savings,and investment.Through the adjustment and optimization of industrial structure through the total amount and circulation speed of capital supply,a more complete consumer market is created from the supply side,and new consumption hotspots are cultivated through innovation,forming a new driving force for consumption driven economic growth.Therefore,studying the impact of consumer finance on residents’ consumption behavior is of great significance for stimulating residents’ consumption and expanding domestic demand in the current economic context to play the fundamental role of consumption in economic development.On the basis of existing research,this article comprehensively analyzes the connotation of consumer finance,based on the four major functions of payment,credit,risk management,and investment,and combined with relevant consumption theories,analyzes the impact of consumer finance on residents’ consumption behavior,and proposes research hypotheses based on this;Based on the development process and current situation of consumer finance and urban residents’ consumption behavior in China,we selected urban residents’ consumption related data from 31 provinces,municipalities,and autonomous regions across the country from 2004 to 2020 as samples to empirically analyze the impact of consumer finance on urban residents’ consumption behavior in China.This thesis has successively carried out Pearson correlation analysis,benchmark regression analysis,endogenous analysis,robustness test,mesomeric effect test,and heterogeneity analysis,and finally reached the main conclusions:(1)various functional dimensions of consumer finance have positive effects on urban residents’ consumption behavior;(2)Consumer finance can improve residents’ consumption expenditure level and consumption structure by influencing residents’ income and optimizing industrial structure;(3)In regions with different levels of economic development and financial development,there are certain differences in this positive effect;(4)Consumer finance is conducive to the increase of development oriented and enjoyment oriented consumer spending.This article expands and enriches the relevant research on the impact of consumer finance functional dimensions on residents’ consumption behavior,and further analyzes the impact of consumer finance on residents’ consumption behavior from the perspectives of residents’ income and industrial structure optimization.At the same time,it also provides corresponding evidence and empirical reference for how to further develop consumer finance and stimulate residents’ consumption.