Empirical Analysis in the Relationship Between the Consumption and Economic Growth Based on the Structural Equation Model

Zhang Erxin () and Yang Wancai ()
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Zhang Erxin: School of Mathematics and Statistics, Central South University, Changsha410083, China
Yang Wancai: Zhengzhou University of Industrial Technology, Zhengzhou451100, China

Journal of Systems Science and Information, 2017, vol. 4, issue 5, 419-427

Abstract: This paper constructs the relationship between consumption and economic growth by a structure equation model and uses the provincial panel data of 29 provinces (municipalities, autonomous regions) from 1992 to 2010 in China, using maximum likelihood estimation method to analyze empirically the relationship between the consumption and economic growth in China. The result shows that the path coefficients between consumptions and economic growth are all positive, that suggests the consumption has significant positive effects on the economic growth. Also in this paper, it gives a new try to use a structural equation model to research the relationship between consumption and economic growth.

Keywords: structure equation model; consumption; economic growth (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jossai:v:4:y:2017:i:5:p:419-427:n:3

DOI: 10.21078/JSSI-2016-419-09

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