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Digital finance and happiness: evidence from China

Digital finance and happiness: evidence from China Digital finance is an innovative business that applies information technology in the financial industry. Although empirical research on digital finance for development has grown enormously during the last decade, studies about the relationship between digital finance and human development remain limited. To fill this gap, this study uses data from the China Household Financial Survey and Peking University Digital Financial Inclusion Index to examine the association between digital finance and happiness. Results show that the association between digital finance and happiness is negative. Mechanism analyzes suggest that digital finance is negatively associated with happiness through the increasing debt burden and overspending behavior. Further heterogeneous analyzes find that age, debt level, and trust degree can be moderators in the relationship between digital finance and happiness. The results have both academic and practical implications for improving digital finance business and human development. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Information Technology for Development Taylor & Francis

Digital finance and happiness: evidence from China

Meng, Kexin; Xiao, Jing Jian
Information Technology for Development , Volume OnlineFirst: 19 – Jul 19, 2022
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Digital finance and happiness: evidence from China

Abstract

Digital finance is an innovative business that applies information technology in the financial industry. Although empirical research on digital finance for development has grown enormously during the last decade, studies about the relationship between digital finance and human development remain limited. To fill this gap, this study uses data from the China Household Financial Survey and Peking University Digital Financial Inclusion Index to examine the association between digital finance...
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Publisher
Taylor & Francis
Copyright
© 2022 Commonwealth Secretariat
ISSN
1554-0170
eISSN
0268-1102
DOI
10.1080/02681102.2022.2097622
Publisher site
See Article on Publisher Site

Abstract

Digital finance is an innovative business that applies information technology in the financial industry. Although empirical research on digital finance for development has grown enormously during the last decade, studies about the relationship between digital finance and human development remain limited. To fill this gap, this study uses data from the China Household Financial Survey and Peking University Digital Financial Inclusion Index to examine the association between digital finance and happiness. Results show that the association between digital finance and happiness is negative. Mechanism analyzes suggest that digital finance is negatively associated with happiness through the increasing debt burden and overspending behavior. Further heterogeneous analyzes find that age, debt level, and trust degree can be moderators in the relationship between digital finance and happiness. The results have both academic and practical implications for improving digital finance business and human development.

Journal

Information Technology for Development – Taylor & Francis

Published: Jul 19, 2022

Keywords: Debt burden; digital finance; financial capability; happiness; human development; overspending

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