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Digital finance’s impact on household portfolio diversity: Evidence from Chinese households

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  • Dong, Jingxuan

Abstract

Herein, we investigate the connection between digital finance and household portfolio diversity using data from the China Household Finance Survey, conducted in 2017 and 2019. Results indicate that digital finance enhances portfolio diversification, particularly among households with urban registration, higher education and higher income levels. The mechanism analysis reveals that digital finance boosts a household’s portfolio diversification by enhancing financial literacy and easing liquidity constraints. Our findings underscore the importance of promoting digital finance and financial innovation by government agencies, which can improve a household’s investment income and well-being.

Suggested Citation

  • Dong, Jingxuan, 2024. "Digital finance’s impact on household portfolio diversity: Evidence from Chinese households," Finance Research Letters, Elsevier, vol. 70(C).
    • Handle: RePEc:eee:finlet:v:70:y:2024:i:c:s154461232401376x
    DOI: 10.1016/j.frl.2024.106347
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    More about this item

    Keywords

    Digital finance; Household portfolio diversity; Financial literacy; Liquidity constraints;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General

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