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

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Listed:
  • Zhang Erxin

    (School of Mathematics and Statistics, Central South University, Changsha410083, China)

  • Yang Wancai

    (Zhengzhou University of Industrial Technology, Zhengzhou451100, China)

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.

Suggested Citation

  • Zhang Erxin & Yang Wancai, 2017. "Empirical Analysis in the Relationship Between the Consumption and Economic Growth Based on the Structural Equation Model," Journal of Systems Science and Information, De Gruyter, vol. 4(5), pages 419-427, October.
    • Handle: 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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    References listed on IDEAS

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    1. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
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