《Table 4 Results of Granger test》

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《Influence of Aging Trend on Consumption Rate of Rural Residents——Empirical Analysis Based on Provincial Panel Data》

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Through the Johansen cointegration test，it can be found that there is a long-term equilibrium relationship among the variables.We tested the Granger causality between CDR and ODR and Con，as listed in Table 4.The results show that CDR and ORD are the Granger causality of Ln（Con），which is consistent with the cointegration test conclusion.Ln（Con）is not the Granger causality of CDR and ORD，which is consistent with the theory.According to the demographic theory，the dependency ratio has nothing to do with the level of economic development and consumption willingness，but is correlated with the age structure of the population.