An Empirical Analysis on the Influence of Household Consumption on Economic Growth in Hubei Province

Xi-xiang Sun () and Ling-li Deng ()
Additional contact information
Xi-xiang Sun: Wuhan University of Technology
Ling-li Deng: Wuhan University of Technology

Chapter Chapter 6 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 41-51 from Springer

Abstract: Abstract Household consumption is closely related to economic growth. Based on a modified Cobb-Douglas production function, adopting the data of household consumption and economic growth in Hubei Province from 1980 to 2010, this paper establishes the evaluation model and takes ADF unit root test approach, Johansen co-integration test approach and Granger causality test approach to make an empirical analysis on the impacts of household consumption on economic growth in Hubei Province. The results show that there is a stable relationship between household consumption and economic growth in the long run. The relationship between them presents positive correlation. Economic growth in Hubei Province is the Granger cause of household consumption. However, the role of household consumption on economic growth is not obvious. Therefore, Hubei government must fully exploit the potential of household consumption in order to promote sound and rapid economic development.

Keywords: Cobb-douglas production function; Economic growth; Granger causality analysis; Household consumption; Hubei province (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38427-1_6

Ordering information: This item can be ordered from
http://www.springer.com/9783642384271

DOI: 10.1007/978-3-642-38427-1_6

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().