Air Quality Index and the Interest Rate Choice of P2P Borrowers

Abstract

Abstract: Air quality can affect people's emotions, which in turn affects people's behavior. This article combines the air quality index (AQI) in prefecture-level cities of China with Renrendai data to analyze the effect of air quality on Renendai borrowers' interest rates. The study finds that when the Air Quality Index increases by one unit, the borrowers' interest rates falls by 1.04%. Further research discovers that air quality has a heterogeneous effect on the borrowers' interest rates, and the air pollution has a greater adverse impact on female borrowers and older borrowers.

Key words: Air Quality, P2P Borrowers, Borrowers' Interest Rates

摘要： 空气质量会影响人们的情绪,进而影响人们的行为。本文利用中国地级市的空气质量指数(AQI)和人人贷数据,分析了空气质量对借款者选择借款利率的影响。研究发现,空气质量指数每上升1个单位,借款者选择的借款利率下降1.04%。进一步研究发现,空气质量对借款者选择借款利率的影响存在异质性,空气质量对女性借款者、年龄较大的借款者影响较大。

关键词: 空气质量, P2P借款者, 利率选择

CLC Number:

F832

FU Zhiqiang, WU Weixing. Air Quality Index and the Interest Rate Choice of P2P Borrowers[J]. , 2021, 37(2): 48-56.

付志强, 吴卫星. 空气质量与P2P借款者的利率选择[J]. 财经论丛, 2021, 37(2): 48-56.

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