The relationship between national income changes and the growth of the sporting goods manufacturing industry was explored in an empirical study published on October 28, 2014. This research examined the connection between cultural education levels, national income, and the development of the sporting goods sector. For four different testing methods, the original hypothesis of unit roots was tested for the variables LnEDU and LnSALE. The results of the level tests rejected the presence of unit roots at the 1% significance level, and the first-difference tests also confirmed stationarity for these two variables, indicating that they are stable over time.
In contrast, the level test for LnPGDP did not reject the unit root hypothesis at the 1% significance level, but the first-difference test successfully rejected it, suggesting that LnPGDP is integrated of order one (I(1)). To further analyze the long-term relationship among cultural education, national income, and the development of the sporting goods industry, a cointegration test was conducted using panel data. This method, proposed by Engle and Granger in 1987, involves a two-step approach.
From the panel unit root tests, it was found that LnEDU, LnPGDP, and LnSALE are all stationary series, allowing for regression analysis. The regression model used the change in educational level as an explanatory variable, the development of the sporting goods industry as the dependent variable, and national income as an additional factor influencing this development. The coefficient β reflects how changes in national income affect the growth of the sports manufacturing sector.
After estimating the regression model, the residual sequence μit was analyzed to check for stationarity. Using the same four unit root tests, the residuals were tested to determine if they formed a stationary series. If the residuals are indeed stationary, it confirms the existence of a long-run cointegration relationship among cultural education levels, national income, and the development of the sporting goods manufacturing industry. This finding supports the idea that improvements in education and economic conditions contribute to the expansion of the sports industry.
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