The development of the sporting goods manufacturing industry has experienced a significant negative impact, as revealed by a panel cointegration analysis conducted between 2014 and 2010. According to the β-coefficient estimates across national and regional levels, there are considerable variations in the coefficients among different regions, suggesting that the level of cultural education, national income, and sports product manufacturing development are interrelated but exhibit differing long-term effects.
When comparing the estimated coefficients from two panel cointegration equations, it becomes clear that the influence of per capita income on the growth of the sporting goods industry is stronger than that of education and cultural levels. This implies that economic factors play a more dominant role in driving the development of this sector compared to educational or cultural indicators.
A comprehensive analysis of the seven major regions in China using Dynamic Ordinary Least Squares (DOLS) reveals that cultural education and per capita income have a significant positive impact on the development of sporting goods manufacturing in North, Northeast, East, South, Central, and Southwest China. However, the effect of national income remains more pronounced than that of cultural education in these areas.
Notably, there are substantial differences in how cultural and educational levels, as well as income, affect the industry across various regions. In contrast, the northwest region shows a distinct pattern: both the level of cultural education and per capita income have a significant negative impact on the development of the sporting goods manufacturing industry.
An in-depth examination of the data reveals an interesting contradiction. Despite rising numbers of college graduates and increasing per capita GDP in the northwest region, the sales revenue of sporting goods has declined. This suggests a negative correlation between higher education levels and economic growth in this area with the development of the sports manufacturing sector.
This finding highlights the complexity of regional disparities and underscores the need for targeted policies that consider local economic and educational conditions when promoting the growth of the sporting goods industry.
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