英文翻译 模板

目录

Housing Consumption and Economic Growth in China (2)

住房消费和经济增长在中国 (10)

摘要 (10)

关键词: (10)

一、介绍 (11)

二、方法 (11)

c .固定式测试 (12)

d .协整检验 (12)

E大肠误差修正模型(ECM)[6] (13)

f.格兰杰因果关系检验 (13)

三、应用程序和结果 (14)

a .数据和变量 (14)

b .固定式测试 (14)

e系列是平稳序列 (14)

d .误差修正模型 (14)

四、结论 (15)

引用 (15)

Housing Consumption and Economic Growth

in China

Wang XJ (Wang Xijun)

School of Economics & Management, Weifang University of China,

xjwang69@

Abstract:

Consumption is a very important part in social reproduction, and its driving effect on social economic growth always plays the leading role. Housing is the basic living material which is essential for people‟s life; housing consumption is the important material condition for the labor force reproduction. This study, based on China‟s statistical data from 1985 to 2007,by employing co-integration theory, Granger causality test and error correction model (ECM),respectively investigates the relationship between consumption, housing consumption and economic growth. The empirical result denotes that there exists bilateral Granger causality relationship between consumption and economic growth. For a long period, there exists long term stable equilibrium relationship between GDP, consumption, and housing consumption; consumption and housing consumption both promote the growth of GDP. Housing consumption‟s contribution to the growth of GDP is obviously higher than consumption. For a short period, consumption spurs the growth of GDP more than housing consumption.

Keywords:Housing consumption; Economic growth;

Co-integration ; ECM; Granger causality test

I. INTRODUCTION

Consumption is a very important part in social reproduction, and its driving

effect on social economic growth always plays the leading role. Housing is the basic living material which is essential for people‟s life; housing consumption is the important material condition for the labor force reproduction. In the period of planned economy, China‟s housing consump tion was strictly controlled by the state, carrying out practicality distribution. With the development of market economy, the government of China formally cancelled the policy of welfare housing in 1998 and carried out that of currency housing, putting forward the plan of fostering housing industry into consumption hotspot and economic growth point. Housing consumption gradually becomes the new consumption hotspot; thus it has been the research focus of academic field and the governments of all levels. Theoretically, housing consumption belongs to the research category of consumption economics. Scholars abroad carry out their research on residents‟ housing consumption behavior mainly by …income hypothesis‟ consumption function model. But the research of scholars abroad is based on western developed market economy system; China is still on the stage of gradually perfecting market economy system: especially the real estate market has not fully developed, housing price is persistently increasing, and residents‟ income grows slowly. On such background, doing research on housing consumption, Chinese scholars cannot blindly take in foreign research approaches and research ideas. We must take domestic actual situation into consideration and critically use foreign research approaches and research ideas for reference and take them in. Presently, Chinese scholars‟ research on housing consumption focuses on housing consumption credit, housing consumption behavior, housing consumption affecting factors, housing system reform and so on. Besides, the research is mostly qualitative and lacks the research results of housing consumption and economic growth. As the foreign research is comparatively beyond China‟s present economic growth, it is hard to apply in China; some domestic research is not systematic and devoid of theoretic depth. Therefore, this paper, based on China‟s statistical data from 1985 to 2007, investigates the relationship between housing consumption and economic growth by employing co-integration theory, Granger causality test and error correction model (ECM).