Sichuan Provincial Economic Growth Factors Cointegration Analysis And Policy Recommendations

Pick to the factors of economic growth, investment, consumption and external trade has played a major contribution. This article is divided into five chapters, the first chapter on the traditional theory of economic growth "troika" dealing with the analysis of the traditional theory of the economic growth theory systems, the so-called "investment, consumption, import and export" to spur economic growth.The first is the analysis of the consumption factor. Household consumption expenditure refers to the purchase of consumer goods and services residents value, which is the total expenditure or total demand major components. In Western countries, Western scholars have attached great importance to the analysis and research on consumer issues, and a series of consumer theory. As total absolute income hypothesis, relative income hypothesis, lasting and life-cycle hypothesis of income hypothesis theory. In absolute income hypothesis, Keynes believes that although the increase in income, people will increase their consumption, but the increase in consumption increased faster than income, so the marginal propensity to consume is declining, and that the marginal propensity to consume less than the average propensity to consume. In response to the views of Keynes, the U.S. economist Dusenbei hypothesis that the relative income, consumption expenditure is not depends on the absolute level of income, but depends on the relative income levels. With the absolute and relative income hypothesis different income hypothesis, the U.S. economist Milton? Friedman lasting income hypothesis, his research focused on a family looking to the future income lasting several years. Friedman believes that the household consumption depends primarily on its lasting income, rather than its current income. But at the same time independent and lasting income hypothesis developed another theory is Modilianni of the life cycle hypothesis. Followed by investment factors. Investment spending or investment demand is an important component of aggregate demand. Investment demand in total...