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2013•Shoudu Jingji Maoyi Daxue xuebaoRequires access

Cointegration Test of China's Consumer's Consumption and Economic Growth

Liu Chun-yi

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Abstract

Consumption is an eternal and hot topic in economics research.Using econometric cointegration theory,error correction model and Granger causality test method,this paper empirically analyzes Chinese consumer and GDP in 1978 -2010,and finds that:between consumption and GDP growth,there are a long-term stability of equilibrium relation and a short-term dynamic adjusting mechanism;consumer is the Granger causality of GDP,which plays effects only in the short term.

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What this paper is about

Consumption is an eternal and hot topic in economics research.Using econometric cointegration theory,error correction model and Granger causality test method,this paper empirically analyzes Chinese consumer and GDP in 1978 -2010,and finds that:between consumption and GDP growth,there are a long-term stability of equilibrium relation and a short-term dynamic adjusting mechanism;consumer is the Granger causality of GDP,which plays effects only in the short term.

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Available abstract

Consumption is an eternal and hot topic in economics research.Using econometric cointegration theory,error correction model and Granger causality test method,this paper empirically analyzes Chinese consumer and GDP in 1978 -2010,and finds that:between consumption and GDP growth,there are a long-term stability of equilibrium relation and a short-term dynamic adjusting mechanism;consumer is the Granger causality of GDP,which plays effects only in the short term.

Key concepts: Cointegration, Economics, Granger causality, Consumption (sociology), Econometrics, Error correction model, Causality (physics), Term (time)

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