中国消费需求不足的不同阶层居民消费过度敏感性研究

Excess Sensitivity of Different Income Stratums Resident Consumption Study on Domestic Consumption Demand Insufficiency

20世纪90年代以来,有效需求不足成为制约中国经济增长的主要因素,基于消费者同质性假设的经典消费理论解释转型期中国居民的消费行为及内需不足问题存在明显局限性。分析中国不同阶层居民消费行为的异质性及过度敏感性特征,对揭示中国消费需求不足的真实诱因并制定刺激政策具有很强的现实意义。中国居民依据其可支配收入分为高、中、低三个收入阶层,1992—2007年面板数据模型的实证结果表明,当前中国各阶层居民的消费均存在过度敏感性,且过度敏感性的大小依收入高低呈"V"字型,其敏感性引致了国内消费需求不足。因此,现阶段应从微观个体差异和宏观体制完善两个角度制定刺激内需的差异化政策,以矫正中国各阶层居民的消费过度敏感性。

Since 1990s,domestic consumption demand insufficiency has become the main constraining factor in China＇s economic growth. There exists limitation in research of Chinese residents＇ behavior based on the assumption of homogeneity of classical consumption theories. Chinese residents can be divided into three income stratums including low,middle and high income. The empirical results based on the Panel Data Model of 1992-2007 show that China＇s present consumption has sensitivity,and its distribution shows a ＂V＂ shape. The sensitivity has led to domestic consumption demand insufficiency. As a result,some suggestions are provided from the view of micro-individual difference and macro-institutional perfection to change the excess sensitivity of resident consumption.