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Table 2 Distribution of MPC by class in terms of survival/development-oriented consumption (extended model)

From: Social class differences in consumption propensity in contemporary China – from survival-oriented consumption to development-oriented consumption

Survival-oriented consumption
  Peasants Working class Old middle class New middle class Business owners
Constant 3144.867*** 3092.476*** 4892.054*** 3233.185*** 7155.003*
Household income per capita 0.249*** 0.241*** 0.302*** 0.168*** 0.002
Household’s residence(town = 1) 215.516 1280.117*** − 459.356 1638.880 2221.005
Household’s savings and credits/deposits etc. per capita − 0.016 0.041*** − 0.030 0.020*** 0.078***
Household’s years of education per capita 246.553 995.813*** 64.349 357.643** 230.585
Present value of household’s durable consumer goods per capita 0.039** 0.056*** 0.017 0.000 0.061***
Present value of household’s production and operation per capita 0.001 0.018*** 0.000 − 0.005 − 0.002
N 1830 1562 688 584 195
Adj R 2 0.130 0.292 0.248 0.273 0.552
Development-oriented consumption
  Peasants Working class Old middle class New middle class Business owners
Constant 370.617 − 955.624 − 765.375 − 4255.860 − 7965.284
Household income per capita 0.096*** 0.146*** 0.204*** 0.257*** 0.002
Household’s residence(town = 1) 97.827 430.309 − 609.307 4847.203 2891.371
Household’s savings and credits/deposits etc. per capita − 0.033 − 0.012 0.017 − 0.029 0.073***
Household’s years of education per capita 364.917* 873.236** 822.760 1564.047 4921.152
Present value of household’s durable consumer goods per capita 0.168*** 0.236*** 0.144*** 0.054** 0.278***
Present value of household’s production and operation per capita 0.043*** 0.047*** 0.000 0.005 − 0.003
N 1872 1612 710 598 200
Adj R 2 0.092 0.236 0.225 0.098 0.231
  1. A series of variables are controlled in the extended model of absolute income hypothesis including household’s residence, household’s savings and credits/deposit etc. per capita, household’s years of education per capita, present value of household’s durable consumer goods per capita, present value of household’s production and operation per capita
  2. *p < 0.05; **p < 0.01; ***p < 0.001