TITLE:
Social Class and Household Consumption: Experience from China
AUTHORS:
Hailiang Yao
KEYWORDS:
Social Class, Household Consumption, Chinese Households
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.8 No.1,
January
17,
2020
ABSTRACT: This paper empirically analyzes the influences of Chinese residents’
social class on their household consumption. According to the data of Chinese
Family Panel Studies (CFPS) in 2016, considering the endogenous possibility of
the social class on household consumption, the regression results of
instrumental variables indicate that the social class of Chinese residents has
a significant positive impact on household consumption. As for the policy
implication behind this paper, when creating relevant consumption policies,
responsible government departments in China should fully consider the
possibility and complexity of the social class influence of residents on the
policy effectiveness.