Positive effect on the development of sporting goods manufacturing industry

The positive impact of cultural education and economic development on the sporting goods manufacturing industry has been analyzed using econometric methods. The study, conducted on data from 2014, reveals a stable long-term relationship between key variables such as LnSALE (sales), LnEDU (education level), and LnPGDP (per capita GDP). Through cointegration analysis, it was found that these variables share a common stochastic trend, indicating a sustained connection over time. To confirm this relationship, unit root tests were applied to the residual sequences using four different methods. The results showed that the residuals are stationary at the 1% significance level, rejecting the null hypothesis of a unit root. This confirms the presence of a long-run equilibrium between the variables. Specifically, there is a strong cointegration relationship between the level of cultural education and the development of the sporting goods industry, as well as between per capita income and the same sector. Panel cointegration estimation further supports these findings. The analysis across 22 regions in China shows that the beta coefficients for most regions are statistically significant at the 1%, 5%, or 10% levels. These coefficients are mostly positive, indicating that increases in cultural education and national income contribute positively to the growth of the sporting goods manufacturing industry. In particular, higher levels of education among residents have a measurable and positive influence on the demand for sports-related products, thereby supporting the expansion of the manufacturing sector. Similarly, rising per capita income enhances consumers' purchasing power, leading to increased investment and production in the industry. Overall, the study demonstrates that both cultural education and economic development play crucial roles in shaping the trajectory of the sporting goods manufacturing industry in China. The findings highlight the importance of fostering educational opportunities and improving living standards to sustain long-term growth in this sector.

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