The Impact of Consumer Credit on Household Education Investment — Empirical Research Based on CHFS Data

Abstract

This article employs the 2019 China Household Finance Survey data to empirically investigate the impact of consumer credit on household education investment. The research reveals that an increase in consumer credit significantly boosts household education investment. Furthermore, the study examines the mechanisms through which consumer credit influences this investment, identifying that it operates by affecting household consumption and total expenditure. The effects are particularly pronounced in households that are risk-averse and have higher incomes. This article offers fresh insights into the interplay between consumer credit, household consumption, and education investment, thereby suggesting new avenues for research on household education investment.