The Effect of Wealth Increase on Education and Entertainment Consumption in China

Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) Pub Date : 2022-01-28 DOI:10.2991/assehr.k.211209.299

R. Liu

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Abstract

Entertainment and education consumption partly reflects people’s living standards. In order to study the influential factors of entertainment and education consumption of Chinese people in the second decade of the 21st century, this paper uses the data from 2010 to 2018 in China Family Panel Studies (CFPS) and the multiple linear regression analysis in econometrics to evaluate the impact of the increase of total household assets on the consumption of entertainment and education in China through Stata software. The results show that the increase in household assets promotes entertainment and education consumption. However, the promoting effect gradually decreased from 2010 to 2018. In addition, high housing price took in a large amount of family income and impeded the consumption of entertainment and education. The decline in people’s preference for entertainment and education consumption in recent years, to some extent, means a rise in living pressure and a decline in the quality of life in China.

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财富增长对中国教育和娱乐消费的影响

娱乐和教育消费在一定程度上反映了人们的生活水平。为了研究21世纪第二个十年中国人娱乐教育消费的影响因素，本文利用中国家庭面板研究(China Family Panel Studies, CFPS) 2010 - 2018年的数据，结合计量经济学中的多元线性回归分析，通过Stata软件评估家庭总资产增长对中国娱乐教育消费的影响。结果表明，家庭资产的增加促进了娱乐和教育消费。然而，从2010年到2018年，促进作用逐渐减弱。此外，高房价占用了大量家庭收入，阻碍了娱乐和教育消费。近年来，人们对娱乐和教育消费偏好的下降，在某种程度上意味着中国生活压力的上升和生活质量的下降。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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