The Impact Of Consumer Credit Development On Residents' Consumption Behavior

Consumer credit is a credit loan provided by various financial institutions and related companies to consumers for supporting consumers' daily consumption.Developed countries such as the United States,Japan,and the United Kingdom all have developed consumer credit markets.Consumption supported by consumer credit accounts for a large proportion of total consumption.The development of consumer credit business is not only an important part of its financial business,but also a support of the development of domestic consumer spending.In recent years,relying on the huge domestic market and the increase in per capita disposable income,consumer credit business in China has grown considerably.After a comparative study of relevant data in the development of consumer credit in the United States,Japan,and the United Kingdom,based on the theory of liquidity constraints,it is demonstrated that consumer credit can increase consumers' current consumption,and the expansion of current consumption is also conducive to the further development of the national economy.In the long run,it can promote the increase of national consumption.From the characteristics of consumer credit itself,it is conducive to the transformation of the national consumption structure because the supporting of consumer credit for residents' consumption mainly focuses on durable goods,luxury goods,and personal development.By selecting the appropriate proxy variables and conducting empirical tests,it finally proves that the development of consumer credit will promote the increase of national consumption,and in certain circumstances,it will help improve the consumption structure of residents.