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
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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
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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.
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
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