In order to investigate the existence of a stable long-run equilibrium relationship between economic growth and consumption in China, the relationship between the gross domestic product （GDP） and consumption in Chin...In order to investigate the existence of a stable long-run equilibrium relationship between economic growth and consumption in China, the relationship between the gross domestic product （GDP） and consumption in China was investigated by the cointegration analysis method. Using the Engle-Granger （EG） test and considering the possibility of structural changes, the impact of external economic shocks on the long-run equilibrium relationship between economic growth and consumption in China was analyzed. Analysis results show that without considering structural changes, the EG test cannot detect cointegration in the series subjected to structural changes; in considering structural changes, cointegration is successfully detected by specifying the dummy variable. In addition, the error correction models were constructed in different periods. This study verifies the existence of a long-run equilibrium relationship between economic growth and consumption in China, and this relationship has significantly changed in 1989 and 1997, respectively.展开更多
Data from 1996 to 2012 is used to conduct co-integration test, VAR model and Granger causality test in order to examine the relation between China＇ s electronic industry added-value and energy consumption. The result...Data from 1996 to 2012 is used to conduct co-integration test, VAR model and Granger causality test in order to examine the relation between China＇ s electronic industry added-value and energy consumption. The result of co-integration test illustrates the long-term equilibrium of the relationship between the electronic industry development and energy consumption. The dynamic analysis of VAR model shows that there is a positive response from the economic growth of the electronics industry to energy consumption, while the impact of energy consumption on economic growth is a slightly negative response. It has been proved that the electronic industry development and energy consumption are mutual Granger causality. According to these conclusions, some suggestions are proposed in the end, including accelerating the development of China＇ s electronic industry to promote high-teeh electronic products, improving energy efficiency, enhancing research efficacy, creasing the effort for energy development and implementing rational energy policies.展开更多
文摘In order to investigate the existence of a stable long-run equilibrium relationship between economic growth and consumption in China, the relationship between the gross domestic product （GDP） and consumption in China was investigated by the cointegration analysis method. Using the Engle-Granger （EG） test and considering the possibility of structural changes, the impact of external economic shocks on the long-run equilibrium relationship between economic growth and consumption in China was analyzed. Analysis results show that without considering structural changes, the EG test cannot detect cointegration in the series subjected to structural changes; in considering structural changes, cointegration is successfully detected by specifying the dummy variable. In addition, the error correction models were constructed in different periods. This study verifies the existence of a long-run equilibrium relationship between economic growth and consumption in China, and this relationship has significantly changed in 1989 and 1997, respectively.
文摘Data from 1996 to 2012 is used to conduct co-integration test, VAR model and Granger causality test in order to examine the relation between China＇ s electronic industry added-value and energy consumption. The result of co-integration test illustrates the long-term equilibrium of the relationship between the electronic industry development and energy consumption. The dynamic analysis of VAR model shows that there is a positive response from the economic growth of the electronics industry to energy consumption, while the impact of energy consumption on economic growth is a slightly negative response. It has been proved that the electronic industry development and energy consumption are mutual Granger causality. According to these conclusions, some suggestions are proposed in the end, including accelerating the development of China＇ s electronic industry to promote high-teeh electronic products, improving energy efficiency, enhancing research efficacy, creasing the effort for energy development and implementing rational energy policies.
