Research On The Economic Growth Effect Of The Consumption Scale Of Urban Middle-income Groups

In recent years,China’s economic growth model has gradually shifted from investment-driven to consumption-driven,and middle-income groups have also gradually received great attention from academia.In China,there are the world’s largest middle-income groups,among which urban middleincome groups have great excavability in consumption capacity and consumption potential.In this context,this article investigates and analyzes the impact of urban middle-income groups’ consumption scale on economic growth and specific action paths.On the basis of reviewing the relevant literature,this paper first reveals the specific path through which the consumption scale of urban middle-income groups affects economic growth,and lays the foundation for further empirical research and recommendations.Then it analyzes the consumption profile of urban middle-income groups in China.Next,using the panel statistics of 31 provinces and cities in the country from 1999 to 2017 as a sample,the empirical analysis of the impact of the consumption scale of urban middleincome groups on economic growth in the country and the eastern,central and western regions.Finally,construct an intermediary effect model,and examine the role of the urban middle-income group’s consumption scale in affecting economic growth from the perspective of promoting technological innovation and industrial structure upgrade.The empirical results show that:(1)The overall economic growth effect of the consumption scale of urban middle-income groups in my country is positive,and there are regional differences.The central region(0.722)is larger than the western region(0.427)than the eastern region(0.324).(2)The consumption scale of urban middle-income groups in my country has a direct effect on economic growth,and there are regional differences.Under the path of technological innovation,the direct effect of the national data is 0.310.By region,the central region(0.602)is larger than the western region(0.327)than the eastern region(0.239);under the industrial structure upgrade path,the direct effect of the national data is 0.371,By region,the central region(0.689)is larger than the western region(0.399)than the eastern region(0.285).(3)The impact of the consumption scale of urban middle-income groups on economic growth in my country has the intermediary effect of technological innovation and industrial structure upgrade,and there are regional differences.The empirical results of national data show that the intermediary effect of technological innovation accounts for 27.18% of the total effect.The eastern region,central region,and western region account for 26.23%,16.5%,and 23.42%,respectively.The eastern region is larger than the western region and larger than the central region..The empirical results of national data show that the intermediary effect of industrial structure upgrade accounts for 9.95% of the total effect,the eastern region,central region,and western region are 12.01%,0,6.56%,the eastern region is greater than the western region than the central region.Based on this,the article makes the following suggestions:(1)Increase the income of urban middle-income groups and expand the scale of consumption;(2)Improve the multi-level security system and enhance the ability to resist risks;(3)Meet the needs of diversified consumption,promote the upgrading of industrial structure and technological innovation;(4)Formulate differentiated consumption policies to fully expand the economic growth effect.