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Consumption Behaviour Under Institutional Transitions in China

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Author Info
Shulian Zhang (School of Economics and Finance, Queensland University of Technology)
Abstract

The study on Chinese consumption behaviour under institutional transitions is significant from a theoretical as well as a policy perspective. Ignoring heterogeneity in consumption behaviour across regions may lead to a bias in estimation results when modelling a consumption function. This paper attempts to provide an alternative empirical study on Chinese consumption behaviour where panel data estimation approaches are employed to capture heterogeneities across regions. Our findings suggest that there are significant changes in both urban and rural households’ consumption behaviour during 1990s and rural households’ consumption is more volatile and sensitive to the changes in economic variables than their counterparts in China.

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Paper provided by School of Economics and Finance, Queensland University of Technology in its series School of Economics and Finance Discussion Papers and Working Papers Series with number 189.

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Date of creation: 15 Jun 2005
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Handle: RePEc:qut:dpaper:189

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  1. Feltenstein, Andrew & Lebow, David & van Wijnbergen, Sweder, 1990. "Savings, Commodity Market Rationing, and the Real Rate of Interest in China," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 22(2), pages 234-52, May. [Downloadable!] (restricted)
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  3. Keane, Michael P & Runkle, David E, 1992. "On the Estimation of Panel-Data Models with Serial Correlation When Instruments Are Not Strictly Exogenous," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(1), pages 1-9, January.
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  5. Barrell, Ray & Byrne, Joseph P. & Dury, Karen, 2003. "The implications of diversity in consumption behaviour for the choice of monetary policy rules in Europe," Economic Modelling, Elsevier, vol. 20(2), pages 275-299, March. [Downloadable!] (restricted)
  6. Doug Steigerwald, 1997. "Consumption Adjustment under Changing Income Uncertainty," University of California at Santa Barbara, Economics Working Paper Series 10-96, Department of Economics, UC Santa Barbara. [Downloadable!]
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  7. Hatzinikolaou, Dimitris, 1999. "Modelling consumption: permanent-income or rule-of-thumb behaviour?," Economic Modelling, Elsevier, vol. 16(2), pages 293-306, April. [Downloadable!] (restricted)
  8. Alan Carruth, Heather Gibson, Euclid Tsakalotos, 1999. "Are Aggregate Consumption Relationships Similar Across the European Union?," Regional Studies, Taylor and Francis Journals, vol. 33(1), pages 17-26, February. [Downloadable!] (restricted)
  9. Badi H. Baltagi & Georges Bresson & James M. Griffin & Alain Pirotte, 2002. "Homogeneous, heterogeneous or shrinkage estimators? Some empirical evidence from French regional gasoline consumption," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 A6-4, International Conferences on Panel Data. [Downloadable!]
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  10. Hsiao, Cheng & Hashem Pesaran, M. & Kamil Tahmiscioglu, A., 2002. "Maximum likelihood estimation of fixed effects dynamic panel data models covering short time periods," Journal of Econometrics, Elsevier, vol. 109(1), pages 107-150, July. [Downloadable!] (restricted)
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  11. Zhang, Yin & Wan, Guang Hua, 2002. "Household consumption and monetary policy in China," China Economic Review, Elsevier, vol. 13(1), pages 27-52. [Downloadable!] (restricted)
  12. Anderson, Heather M. & Vahid, Farshid, 1998. "On the pooling of cross-sectional and time-series data in the presence of heteroskedasticity," Economics Letters, Elsevier, vol. 60(3), pages 291-296, September. [Downloadable!] (restricted)
  13. Weber, Christian E., 2002. "Intertemporal non-separability and "rule of thumb" consumption," Journal of Monetary Economics, Elsevier, vol. 49(2), pages 293-308, March. [Downloadable!] (restricted)
  14. Wen-Jen Hsieh & Yu Hsing, 1994. "Tests Of Nonlinear Consumption Functions: The Case Of Korea, Taiwan, Thailand And India," International Economic Journal, Korean International Economic Association, vol. 8(2), pages 71-81, June. [Downloadable!] (restricted)
  15. M Pesaran & Yongcheol Shin & Ron P Smith, 2004. "Pooled mean group estimation of dynamic heterogeneous panels," ESE Discussion Papers 16, Edinburgh School of Economics, University of Edinburgh. [Downloadable!]
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