{"title":"Online Payment Technological Innovation and Changes in Household Saving Rate: Evidence From China","authors":"Anran Dai, Shaoan Huang","doi":"10.1002/mde.4549","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>In light of the rapid development of online payment and the consistent decline in household saving rate in China over the past decade, this paper examines the impact of online payment on household saving rate. By conducting theoretical analyses, we find that online payment decreases household saving rate by breaking through three internal mechanisms: psychological constraints, geographic constraints and income constraints. Empirical analysis based on the China Family Panel Studies survey data (2014, 2016, and 2018) supports the theoretical conclusions, particularly highlighting that online payment is more likely to reduce saving rates among individuals in western and central regions, females, younger individuals, those with lower educational level, and lower income groups. Results remain robust after addressing endogeneity with instrumental variable method, propensity score matching (PSM), propensity score matching with difference-in-difference (PSMDID), and treatment effects model.</p>\n </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"46 6","pages":"3571-3590"},"PeriodicalIF":2.7000,"publicationDate":"2025-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Managerial and Decision Economics","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/mde.4549","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
In light of the rapid development of online payment and the consistent decline in household saving rate in China over the past decade, this paper examines the impact of online payment on household saving rate. By conducting theoretical analyses, we find that online payment decreases household saving rate by breaking through three internal mechanisms: psychological constraints, geographic constraints and income constraints. Empirical analysis based on the China Family Panel Studies survey data (2014, 2016, and 2018) supports the theoretical conclusions, particularly highlighting that online payment is more likely to reduce saving rates among individuals in western and central regions, females, younger individuals, those with lower educational level, and lower income groups. Results remain robust after addressing endogeneity with instrumental variable method, propensity score matching (PSM), propensity score matching with difference-in-difference (PSMDID), and treatment effects model.
期刊介绍：
Managerial and Decision Economics will publish articles applying economic reasoning to managerial decision-making and management strategy.Management strategy concerns practical decisions that managers face about how to compete, how to succeed, and how to organize to achieve their goals. Economic thinking and analysis provides a critical foundation for strategic decision-making across a variety of dimensions. For example, economic insights may help in determining which activities to outsource and which to perfom internally. They can help unravel questions regarding what drives performance differences among firms and what allows these differences to persist. They can contribute to an appreciation of how industries, organizations, and capabilities evolve.
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