Empirical Analysis of Resident Income and Economic Growth in Guangxi, China
International Journal of Economics, Finance and Management Sciences
Volume 6, Issue 4, August 2018, Pages: 185-191
Received: Sep. 16, 2018; Published: Sep. 18, 2018
Views 227      Downloads 45
Authors
Junjun Zhang, The School of Finance and Taxation, Central University of Finance and Economics, Beijing, P.R. China; Department of Finance, Institute of Fiscal Science, Guangxi Zhuang Autonomous Region, P.R. China
Ke Gao, “The Belt and Road” Economic Development Research Center, Shandong University of Finance and Economics, Jinan, P. R. China; Development Research Center of Shandong, Jinan, P. R. China
Article Tools
Follow on us
Abstract
This paper explores the current situation and causes of rapid economic growth but slow growth of residents' income since the reform and opening up in Guangxi China, and clarifies the relationship between income distribution and economic growth. According to the basic principles of economics, through the establishment of economic models, this paper makes an empirical analysis for the interrelated relationship between economic growth, income distribution of residents, fiscal revenue and economic structure. In this paper, Johansen cointegration test is used to test the cointegration relationship between these variables, and the results reflect the cointegration relationship between variables, which shows that the original regression is not a spurious regression. It also shows that although the series of variables are non-stationary, there is a long-term stable equilibrium relationship between GDP and variables. Then the paper leads to the following conclusions and suggestions: Residents' income plays an important role in economic growth, and income distribution should be appropriately inclined to residents. We must make full use of the means of fiscal regulation of income distribution. It is necessary to increase wage income, property income, and operating income of urban and rural residents. It is necessary to promote the optimization and adjustment of the economic structure. In the end, "both the country and the people are rich" will be realized.
Keywords
Economic Growth Model, Urban and Rural Residents’ Income, Empirical Analysis
To cite this article
Junjun Zhang, Ke Gao, Empirical Analysis of Resident Income and Economic Growth in Guangxi, China, International Journal of Economics, Finance and Management Sciences. Vol. 6, No. 4, 2018, pp. 185-191. doi: 10.11648/j.ijefm.20180604.16
References
[1]
Zhang Chewei, Zhao WenNew. Changes in China's Income Distribution Pattern and Countermeasures [J]. Journal of Beijing University of Technology (Social Sciences Edition), 2018, 8:61-71.
[2]
Shi shujie. Positive interaction between maintaining stable economic growth and optimizing income distribution structure [J]. Research and exploration, 2018, 7:126-131.
[3]
Liu Jin, Shi Wenwei, Deng Xiaolian, etc. The implementation path of income doubling plan for urban and rural residents in Guangxi [J]. A reference to economic research, 2014, 37: 17-38.
[4]
Li Shi. China's income distribution system reform forty years [J]. China Economist, 2018, 7:2-33.
[5]
Teng Hong, Zhang long, Jiang Zhiqiang. Empirical research on China's economic growth and economic structure, fiscal revenue, household income [J]. World Survey, 2011, 2: 16-21.
[6]
Zhen Kang Hua. Metrology Finance Research (Second Edition)[M]. Beijing: Economic science Press, 2014.
[7]
Ouyang Huang. Coordinated growth of residents' income and national economy: Theory and demonstration [M]. Beijing: Economic science press, 2012.
[8]
Yang Hong. Tax system for adjusting residents' income distribution [M]. Beijing: China tax press, 2010.
[9]
Dai Yi. To promote fair income distribution, we must strengthen the function of fiscal distribution [J]. Exploration of economic issues, 2011, 4: 186-190.
[10]
Zhang Huiling. Analysis of the Role of Transferred Expenditure in Adjusting Income Distribution in China [J]. Statistics and Decision Making, 2007, 6: 88-90.
[11]
Liu Yue. Evolution Trend and Enlightenment of Resident Income Distribution in China since Reform and Opening-up [J]. Journal of Tianjin Commercial University, 2016, 7: 38-55.
[12]
Li Shi, Zhao Renwei. Re-study on the Income Distribution of Chinese Residents [J]. Economic Research, 1999, 4: 3-17.
[13]
YueXiming. How to Solve the Current Income Distribution Problem in China [J]. Financial Think Tank, 2016, 1: 129-134.
[14]
GaoPeiyong, Yang Zhigang, Xia Jiechang. Frontier of China's Fiscal and Economic Theory(5) [M]. Beijing: Social Sciences Literature Press, 2008.
[15]
Zhao Mingliang. Does International Investment Risk Factors have Impact on the OFDI of China to “Silk Belt and Road Initiative” Countries?: An Empirical Analysis Based on the Theory of Investment Gravity Model [J]. International economic and trade explorations. 2017, 2: 148-158.
[16]
Zhao Mingliang, Zang Xu Heng. New Driving Force Shaping of International Trade and Reconstruction of Global Value Chain [J]. Reform. 2018, 7: 29-43.
ADDRESS
Science Publishing Group
548 FASHION AVENUE
NEW YORK, NY 10018
U.S.A.
Tel: (001)347-688-8931