Speaker: Dr Junhong Yang, SOAS University of London
Time: Wednesday, 27 November 2019, 13:00-15:00
Venue: S314 (Paul Webley Wing, Senate House), SOAS University of London

Abstract
Using the 2015 and 2017 waves of the China Household Finance Survey (CHFS), we measure financial literacy and study its relationship to households’ demand for digital finance. We find that a majority of households in China possess limited financial literacy. Low levels of financial sophistication are responsible for low usage of digital finance for Chinese households. In addition, the positive impact of financial literacy on digital finance is more pronounced for households with more wealth and in urban areas. Our results are robust to the use of a variety of specifications and controlling for endogeneity, peer effects and cognition.

About speaker

Dr Junhong Yang is a Senior Lecturer in Finance at the School of Finance and Economics, SOAS University of London. He received his PhD in Finance from Durham University. Before joining SOAS, he was a Lecturer in Finance at Sheffield University Management School. His research focuses on Corporate Finance, Financial Technology, Social Media, Financial Inclusion and Innovations. His paper is based on a recent research project at the Asia Development Institute of the Asia Development Bank where he served as an academic consultant. He has also worked on an externally funded project as a Marie Curie Host Fellow.

The seminars are sponsored by grants from DFID and ESRC [ESRC Ref: ES/N013344/2], ESRC and NSFC [ESRC Ref: ES/P005241/1] and AXA Research Fund