Do psychological factors emanating from a financial crisis affect consumption? Evidence from China
Document Type
Journal article
Source Publication
China: An International Journal
Publication Date
4-2013
Volume
11
Issue
1
First Page
146
Last Page
156
Abstract
This article evaluates the role and importance of psychology in consumption. Different psychological states emanating from the 2008 global financial crisis were modelled in this analysis. Using Chinese household survey data (N = 10,043), the consumption of both employed and unemployed Chinese consumers was shown to be significantly correlated with changes in the psychological states (such as mental accounting, emotion, optimism and perception) wrought by the crisis. An implication is that public policies, including the provision of social safety nets and income protection measures, may help to allay these psychological stresses and hence their adverse consumption impacts.
DOI
10.1353/chn.2013.0004
Print ISSN
02197472
E-ISSN
02198614
Publisher Statement
Copyright © China: An International Journal
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Voon, J. P., & Zhang, R. (2013). Do psychological factors emanating from a financial crisis affect consumption? Evidence from China. China: An International Journal, 11(1), 146-156. Retrieved from http://muse.jhu.edu/journals/chn/summary/v011/11.1.voon.html