An analysis on causes of decline of China's final consumption rate since 1978

概要

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Along with the rapid economic growth and reform since 1978, there has been a remarkable trend in China, i.e. the steady decline of the share of final consumption expenditure in GDP that has made China be one of economies with lower ratio of consumption in the world for a long period. This phenomenon has become one of hot issues among the economists in China in recent years. It is also very important for policy implication given the key role of consumption in the growth. This paper is mainly used to analyze the reasons why China's final consumption rate was declined. We found that there are four reasons to explain why China's final consumption rate was declined: decrease of propensity of consumption; adjustment of distribution structure of national income; the reform of housing system in urban area and slower growth of income of rural residence.
山口大学東亜経済学会の論文