Empirical Analysis of Relationship between Information Consumption and Economic Growth

Abstract:

Based on the statistical data from the year 1978 to 2012, cointegration test and granger causality test are used under the multivariate framework of economic growth theory in this paper. Then Granger causality relationship between residents’ information consumption and economic growth is further verified by the differential decomposition method. The conclusions are as follows. Firstly, long-term stable relationships exist among economic growth and amount of labor input, capital stock, residents’ information consumption. Secondly, the relationship between economic growth and residents’ information consumption is Granger causal. Thirdly, the promotion of resident of information consumption to economic growth is less than the promotion of the labor input and capital stock, and the shape of Chinese economic growth is still in extensive.

• Periodical: Applied Mechanics and Materials (Volumes 644-650)
• Pages: 5986-5990
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.644-650.5986
• Online since: September 2014
• Authors: Yan Qiu Hu*
• Keywords: Cointegration Test, Economic Growth, Granger Test, Information Consumption

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