| According to the Global Consumer Insights Survey 2019,the popularity of mobile payment in my country reached 86%in 2019,ranking first in the world,but at the same time,the growth rate of consumer consumption in my country is slowing down,and the proportion of offline consumption is decreasing.This article mainly uses the micro household data of the China Household Finance Survey(CHFS)in 2017 and 2015 to explore whether mobile payment will have a significant impact on the total household consumption,the total offline consumption,and whether mobile payment has a"crowding effect" on offline consumption proportion,which promotes the transformation of consumption from offline to online.In addition,the article will also analyze the heterogeneity of the samples in different regions,different income levels,different human capitals,different levels of youth,and various types of consumption,and on this basis,explore the influence mechanism of mobile payment on total consumption,offline consumption and offline consumption proportion.According to results of OLS and 2SLS,it is found that the use of mobile payment has a significant promotion effect on the total household consumption and the offline consumption,and has a significant "crowding effect" on the offline consumption proportion.Among them,for rural areas,middle-income households,households with higher human capital,and households with an older average age,mobile payment has a more significant promotion effect on total consumption and offline consumption;while the offline consumption proportion "crowded out effect" is more pronounced in urban areas,"more developed" areas,middle-to-high income,higher human capital,and younger families.Finally,through mechanism analysis,the article found that,compared to alleviating credit constraints,mobile payment mainly uses convenience to save opportunity cost to achieve the above-mentioned promotion of total consumption and lead to the transformation of offline to online consumption structure. |
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