Social networks, inclusive finance, and residents' well-being: An empirical study based on CFPS

Abstract

Using data from the China Family Panel Studies (CFPS), this paper investigates how social networks and inclusive finance affect residents' well-being. The empirical results indicate that social networks can significantly enhance residents' well-being, and inclusive finance can play a significant positive moderating role in the influence of social networks on residents' well-being, suggesting a complementary relationship between the impacts of social networks and inclusive finance on residents' well-being. Further analysis shows that the positive moderating effect of inclusive finance in the relationship between social networks and residents' well-being is more pronounced in regions with higher levels of marketization.