Research On The Regional Difference Of Consumer Credit Effect On Consumption In China

Consumer credit is the currency of the economic level and the product of credit relationship to a certain stage of development,to alleviate the contradiction between consumption and production of financial products.Consumer credit in China began in the late 20th century along with the housing reform,in March 1999,the central bank issued guidance of the implementation of personal consumer credit,consumer credit in China formally entered into a comprehensive promotion.As of December 2016,our country consumer credit balance of 24.638122 trillion yuan,the current form of consumer credit is given priority to with mortgages,car loans,consumer loans in all small share in the loan business.Although the consumer credit market in China is increasing to 27%growth year after year,but compared with developed country mature consumer credit market still has a large gap,and the area between the development of consumer credit market in our country also has a certain gap.In 2008,after the U.S.financial crisis spread to China's export-oriented export-oriented economy had a serious impact.In order to change our country to expand domestic demand,economic growth over-reliance on investment and foreign trade,domestic economic depth dip,capacity and inventory,to leverage in full swing.Government actively encourage financial institutions to issue personal consumption loans to residents,in order to smooth the distribution of income in China,promoting residents increasing consumer spending in the near future.So the question will be whether consumer credit can promote residents' consumption demand growth in China?If you can,it is an effect through what channel?The development of consumer credit in China will be restricted by what factors?At present our country the development of consumer credit for residents' consumption effect have how old?Consumer credit on the regional difference of residents' consumption effect,which is forming causes of the differences?This is the starting point of this writing.This article first to the domestic and foreign consumption credit theory,generalizes the literature and empirical research,to lay the theoretical basis for study of this paper.Secondly.analysis on the development of consumer credit in our country present situation and trend.structure characteristic and regional difference,find out the problems existing in the development of consumer credit in China.In the empirical part,using the least-squares regression and generalized moment estimation system(GMM)to our country consumer credit analysis of regional difference of residents' consumption utility.The results found that long and short-term consumer credit of our country in our country residents' consumption has a positive role in promoting,but there are significant differences between regions.Short-term effects of consumer credit consumption of residents in the western areas the most significant consumer credit,long-term consumption of residents in the eastern region effect is significant.Nationally short-term consumer credit for residents' consumption effect than long-term consumer credit effect significantly.Finally,make a reasonable explanation to the empirical results and policy implications.