数字金融、主观幸福感与居民消费——基于CGSS2015的实证分析

释放居民消费潜力、提振居民消费对构建以国内大循环为主的“双循环”新发展格局具有重要意义。数字经济发展对居民消费产生了巨大的影响。综合运用CGSS2015数据与数字普惠金融指数，探索了数字金融对居民消费的影响。结果显示：数字金融能够提升居民消费，且存在结构效应，数字金融覆盖广度与数字化程度均能提升居民消费水平；数字金融对发达地区和家庭物质资本高的居民消费有促进作用，对欠发达地区家庭人力资本高的居民消费有促进作用；户主主观幸福感在数字金融与居民消费之间存在“遮掩效应”。结论：从经济学与心理学融合的角度，为解释数字金融影响居民消费提供了一个新的视角。

Digital Finance,Subjective Well-being and Resident Consumption: Based on the Empirical Analysis of CGSS2015

Unleashing the potential of residents' consumption and boosting their consumption is of great significance to the manufacture of a new development pattern of the dual cycles with a major domestic cycle as the mainstay. The development of the digital economy has had an enormous impact on residents' consumption. Using CGSS2015 data and the digital financial in- clusion index, this paper explored the impact of digital finance on household consumption. The results show that digital finance can improve residents' consumption, and there is a structural effect. The coverage and digitization of digital finance can improve residents' consumption. Digital finance can promote the consumption of residents with high material capital in developed areas and households, and promote the consumption of residents with high human capital in underdeveloped areas. The subjective well-being of household heads has a “masking effect” between digital finance and household consumption. From the perspective of the integration of economics and psychology, the conclusion provides a new perspective to explain the impact of digital Finance on Residents' consumption.