Academic Journal of Business & Management, 2023, 5(11); doi: 10.25236/AJBM.2023.051120.
Xinke Feng1, Junyi Wu2, Huiyi Yu3
1School of Finance, Anhui University of Finance and Economics, Bengbu, 233030, China
2School of Accounting, Anhui University of Finance and Economics, Bengbu, 233030, China
3School of Finance and Public Administration, Anhui University of Finance and Economics, Bengbu, 233030, China
The reform and opening up has had a profound impact on China's economy. This paper uses the annual data from 1979 to 2021 obtained from the Flush database to study how these three factors affect China's GDP growth. The results show that investment and household consumption have a significant impact on GDP growth, while net exports have an insignificant impact on GDP growth. Specifically, household consumption contributes the most to GDP growth, followed by net exports, and investment has the lowest contribution. Therefore, the government can adopt a series of policies to increase investment, promote household consumption and increase the total import and export volume to increase GDP and drive economic development.
GDP; Investment; Household consumption; Net exports; OLS model
Xinke Feng, Junyi Wu, Huiyi Yu. An Inquiry into the Influencing Factors of GDP Growth in Our Country since the Reform and Opening up—An Empirical Study Based on OLS Model. Academic Journal of Business & Management (2023) Vol. 5, Issue 11: 128-136. https://doi.org/10.25236/AJBM.2023.051120.
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