Does COVID-19 Affect Household Financial Behaviors? Fresh Evidence From China-Reference-Cited by-同舟云学术

Does COVID-19 Affect Household Financial Behaviors? Fresh Evidence From China

Published:2022-07 Issue:3 Volume:12 Page:215824402211194
ISSN:2158-2440
Container-title:SAGE Open
language:en
Short-container-title:SAGE Open

Author:

Guo Hua¹,Zhang Yang¹²^ORCID,Peng Yanling¹,Luo Tong¹,Wang Hong³

Affiliation:

1. Sichuan Agricultural University, Chengdu, China

2. China Agricultural University, Beijing, China

3. Gezhouba Group No. 2 Engineering Co., Ltd., Chengdu, China

Abstract

Based on online survey data from 2020, the present study employed a logit model to examine the effects of COVID-19 on household financial behaviors in China. Additionally, the KHB (Kohler, Karlson, Holm) model was employed to explore the pathway through which COVID-19 affects household financial behaviors. These analyses revealed that household saving and borrowing behaviors were more sensitive to COVID-19 than insurance and investment behaviors. Moreover, the effects of COVID-19 on household saving and investment behaviors were found to be mediated by attitudes toward COVID-19. These findings suggest that more effective measures to reduce households’ panic attitude to public health emergencies can diminish fluctuations in household financial behaviors in the short term.

Funder

National Natural Science Foundation of China

Ministry of Education of the People’s Republic of China

National Office for Philosophy and Social Sciences

Publisher

SAGE Publications

Subject

General Social Sciences,General Arts and Humanities

Link

http://journals.sagepub.com/doi/pdf/10.1177/21582440221119481

Reference55 articles.

1. Akhtaruzzaman M., Boubaker S., Sensoy A. (2020). Financial contagion during COVID-19 crisis. Finance Research Letters, 38, 101604–101624. https://doi.org/10.1016/j.frl.2020.101604