Analysis of Factors Influencing Private Car Ownership in China: Integrating Psychological Perspectives

DOI: https://doi.org/10.62517/jbm.202509602

Author(s)

Zeyu Zhou

Affiliation(s)

Nanchang University, Nanchang, Jiangxi, China

Abstract

This study comprehensively and in-depth analyzes various factors affecting private car ownership in China by constructing a scientific and accurate econometric model. In terms of variable selection, factors from economic, social, technological, and other dimensions are comprehensively considered. A multiple linear regression model is established, parameter estimation is conducted, and the impact magnitude and direction of each factor are quantitatively explored. The multiple linear regression model in econometrics is adopted as the core analysis tool, and the powerful data processing and model estimation functions of EViews software are used to analyze relevant data. Multiple testing methods including economic significance, statistical, and econometric tests are applied to optimize and revise the model. According to the research results and tests of the model on China's data from 1995 to 2024, the impact degree and significance of various influencing factors on private car ownership vary. There is a strong positive correlation between per capita disposable income and private car ownership; a negative correlation exists between crude oil output and private car ownership; bank loan interest rates have no significant impact on car ownership; car output has little impact on car ownership, and an increase in car output does not directly lead to a significant change in car ownership. With the continuous advancement of economic and social development and science and technology, new factors that may affect changes in private car ownership may emerge in the future.

Keywords

Private Car Ownership; Influencing Factors; Consumption Psychology; Eviews Software; Revision Test

References

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