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Review Development Economics - 2023 - He - Impact of mobile payment adoption on household expenditures and subjective1.47 MB
Published VersionCC BY V4.0, Open Access
Journal article
Impact of mobile payment adoption on household expenditures and subjective well-being
Review of Development Economics, Vol.28(1), pp.264-285
2024
Abstract
This paper estimates the effects of mobile payment adoption on household expenditures and people's subjective well-being. We consider four categories of household expenditures (that on clothes, durable goods, consumer goods, and cultural and leisure activities) and four indicators (life satisfaction, contentment, income satisfaction, and depression) of subjective well-being. We use the Augmented Inverse Probability Weighting estimator to analyze the 2017 Chinese General Social Survey data while accounting for the selection bias inherent in mobile payment adoption. The empirical results show that people's decisions to adopt mobile payment are positively associated with their educational levels, car ownership, social interaction, internet penetration rate, and residential location. Mobile payment adoption significantly increases household expenditures on consumer goods and cultural and leisure activities but not on expenditures on clothes and durable goods. Moreover, mobile payment adoption significantly decreases people's contentment while increasing depression. We also find that mobile payment adoption significantly decreases the contentment of urban people but significantly increases the depression of rural people.
Details
- Title
- Impact of mobile payment adoption on household expenditures and subjective well-being
- Authors
- Quan He - Lincoln UniversityWanglin Ma (Corresponding Author) - Lincoln UniversityPuneet Vatsa - Lincoln UniversityHongyun Zheng - Huazhong Agricultural University
- Publication details
- Review of Development Economics, Vol.28(1), pp.264-285
- Publisher
- Wiley-Blackwell Publishing Ltd.
- Date published
- 2024
- DOI
- 10.1111/rode.13054
- ISSN
- 1467-9361; 1363-6669
- Copyright note
- This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution andreproduction in any medium, provided the original work is properly cited. © 2023 The Authors. Review of Development Economics published by John Wiley & Sons Ltd.
- Data Availability
- The data that support the findings of this study are available from Wanglin Ma upon request.
- Grant note
- National Natural Science Foundation of China, Grant/Award Number: 72303076
- Organisation Unit
- School of Business and Creative Industries
- Language
- English
- Record Identifier
- 991148839702621
- Output Type
- Journal article
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