A Study On The Impact Of Social Interaction On Household Consumption Structure

In classic economic theory,investment,consumption,and exports are the three horse-drawn carriages that drive the economy.Consumption,as the core of effective demand,has always been regarded as the most important carriage to drive the economy.Consumption has an important role in improving people's lives,for example guiding production and creating new productivity.In developed countries,the contribution rate of consumption to the economy can reach more than 70%,and China is now approaching that level.Based on the background,this paper uses micro data of Chinese household consumption to explore the influencing factors of household consumption,especially the relationship with family society.This article assumes that the impact of social interaction on household consumption is similar to that on household investment decisions.On the basis of verifying the positive promotion effect of social interaction,the article also attempts to attribute the influence mechanism of social interaction to information channels and communication feelings.While discovering the overall impact,it also identifies the magnitude and significance of different mechanisms.The empirical results show that social interaction has a significant positive effect on various household consumption,and that the communication experience mechanism is supported by data on unnecessary consumption.Information channels are not supported by empirical results in various consumption categories.That is,the more unnecessary consumption of people around the family,the greater the role of family social interaction in promoting consumption.