财富变量、不确定性与中国居民消费函数——基于PIH-LCH假说消费函数的扩展

Wealth Variable,Uncertainty and Consumption Function of Chinese Residents:An Expansion of Consumption Function Based on PIH-LCH Hypothesis

自改革开放以来,虽然中国国内生产总值呈现不断增长的态势,但居民消费率总体上呈现逐步下降的趋势。借鉴西方消费理论,并结合中国金融市场不完全、城乡二元结构、居民收入来源多元化、由计划经济向市场经济转轨等特点构建和扩展了中国居民消费函数。研究结果表明,中国居民消费呈现出"瞻前"和"顾后"的双重特征,并据此提出发展和完善金融市场,大力发展第三产业与生产性服务业,提高教育投资的收益率以及增加政府在社会保障方面的支出,完善中国社会保障体系等提高居民消费的政策建议。

Since the reform and opening up,although China＇s GDP has presented a growing pattern,the consumption rate showed a decline trend.With reference from Western consumption theory,combined with the Characteristics of our incomplete financial market,urban-rural dual structure,diversification of income sources,and transition from planned economy to market economy and so on,the article has built and extended the consumption function.The results show that Chinese residents has presented double features of ＂forward looking＂ and ＂retrospection＂,and the policy recommendations such as,developing and improving the financial market,vigorously developing the tertiary industry and producer services industry,improving the rate of return of investment in education,increasing government spending on social security and improving social security system of our country,has been put forward accordingly to improve the residents consumption.