Government digital policy breaks the mystery of "limited participation" in China's home finance market.

ABSTRACT: This study uses a two-step approach to construct a multi-period double-difference model and introduces a quasi-natural experiment of the Broadband China pilot policy to investigate whether household financial market participation at the urban level is affected by the digital economy, which is significant for promoting Chinese households' shift from savings to investment and alleviating the long-standing problem of insufficient household financial market participation in China. In terms of direct impact, the digital economy increases the household financial market participation rate of urban residents by 3.26%, and increases the financial market participation rate of highly financially literate households by 2.14%; in terms of indirect impact, the development of the digital economy increase

SUBMITTER: Xing L 

PROVIDER: S-EPMC10658145 | biostudies-literature | 2023 Nov

REPOSITORIES: biostudies-literature