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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