民生投资性支出与居民消费的实证研究

本文基于最优消费行为理论，考虑到中国居民消费的特点，将政府民生支出引入到最优消费函数中进行分析并得出民生投资性支出与居民消费之间关系的函数，最后利用1978—2010年的相关数据进行动态面板数据的实证检验，结果表明：民生投资性支出对我国居民消费具有正的长期和短期效应，且长期效应要大于短期效应。

The Empirical Research of Investment Expenditure on Livelihood Improvement and Resident Consumption

Based on the optimum consumption behavior and the unique consumption characteristics of Chinese resident, the paper introduces government expenditure on livelihood improvement to the optimum consumption function, we can find the function of relationship between investment expenditure on livelihood improvement and resident consumption, by using the data from 1978 to 2010 and making an empirical test on dynamic panel data. The result shows that investment expenditure on livelihood improvement can make the positive effect on resident consumption in long run as well as that in short run, and the impact of investment expenditure on livelihood improvement on resident consumption in long run exceeds impact of investment expenditure on livelihood improvement on resident consumption in short run.