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| Empirical Research on Impacts of Circulation Industry on China’s Household Consumption——Based on Panel Data SUR Model |
| WANG Shijin1,ZHOU Min1,SI Zengchuo2 |
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2. (Economics School of Xuzhou Normal University
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Abstract Based on the panel data SUR model, this paper selects the data related to circulation industry and household consumption for an empirical study on the impact of circulation industry on consumption and their relationships. As there may be a contemporaneous correlation of the cross section panel data, this paper adopts the panel data “seeming unrelated regression” (SUR) model which can modify relativities for this research. Empirical research shows that there exists a long run equilibrium among household consumption, circulation industrial scale, operational efficiency and industrial environment. Enlarging the circulation industrial scale, increasing the operational efficiency and improving industrial environment can significantly promote household consumption, bringing about great differences between eastern, central and western regions in China according to individual intercept effect.
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Received: 27 May 2013
Published: 15 October 2013
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Corresponding Authors:
WANG Shijin
E-mail: wangshijin2008@126.com
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2013, Vol. 
浙公网安备 33011802000512号