论文标题
数字金融的兴起：金融包容或债务陷阱
The rise of digital finance: Financial inclusion or debt trap
论文作者
论文摘要
这项研究的重点是数字融资对家庭的影响。尽管数字金融带来了金融包容性，但它还增加了家庭陷入债务陷阱的风险。我们提供了支持这一观念的证据，并解释了数字金融增加财务困扰可能性的渠道。我们的结果表明，数字融资的广泛使用增加了信贷市场的参与。通过改变边际消费倾向，进入信贷市场的扩展可以增加家庭消费。但是，更容易进入信贷市场也增加了家庭陷入债务陷阱的风险。
This study focuses on the impact of digital finance on households. While digital finance has brought financial inclusion, it has also increased the risk of households falling into a debt trap. We provide evidence that supports this notion and explain the channel through which digital finance increases the likelihood of financial distress. Our results show that the widespread use of digital finance increases credit market participation. The broadened access to credit markets increases household consumption by changing the marginal propensity to consume. However, the easier access to credit markets also increases the risk of households falling into a debt trap.
