Abstract
This study investigates the impact of Internet finance (IF)11Internet finance (IF): Traditional financial institutions and Internet enterprises use Internet technology and information communication technology to realize the new financial business model of financial financing, payment, investment and information intermediary services.on residents’ online consumption using annual data from 2013 to 2022 in China. To examine the impact of IF on overall consumption, survival, development, and enjoyment, four vector autoregressive models are constructed. This study employs comprehensive methods, including parameter estimation, impulse response function analysis, and variance decomposition. Findings reveal that the development of IF has significantly stimulated residents’ online consumption, with the increase in developmental expenditure being the most significant, followed by the increase in entertainment expenditure.
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