Can Online Social Network Promote Residents’ Consumption
—Proven by the Micro Data from 27,632 Chinese Households ()
ABSTRACT
Our research aim is to analyze the impact of rural and urban households’
online social network on their daily consumption, and tests the most important
transmission mechanism—credit constraint mechanism in it, and we use the micro
data sample of China Household tracking survey (CFPS) to achieve it. Furthermore,
we compare the impact of formal finance and informal finance on household
consumption’s differences in response. The conclusion shows that: 1) online
“group culture” has formed a new type of social capital in China, and has an
impact on traditional social networks; 2) there are significant regional
differences in the impact of online social networks on consumer credit; 3) the
improvement of credit consumption is more driven by Internet technology, and
the impact of formal financial institutions on consumer spending is declining.
The impact of Internet technology innovation on the improvement of household
credit consumption power is constantly improving, and more and more Chinese
households get consumer credit support through online social networks.
Share and Cite:
Shi, J. and Wang, Y. (2020) Can Online Social Network Promote Residents’ Consumption
—Proven by the Micro Data from 27,632 Chinese Households.
Open Journal of Business and Management,
8, 796-808. doi:
10.4236/ojbm.2020.82049.
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