Macroeconomic implications of population aging: Evidence from Japan

Goh, Soo Khoon; McNown, Robert; Wong, Koi Nyen

doi:10.1016/j.asieco.2020.101198

Cited by 32 publications

(28 citation statements)

References 25 publications

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“…The positive and significant effect of life expectancy on pension fund implies that the people in provinces of Indonesia concern regarding there are welfare on the future, they willing to sacrifice the current consumption for the future welfare. This condition in line with the theory of the life cycle hypothesis of saving and the theory of the life cycle hypothesis of consumption (Deaton, 2005;Goh et al, 2020). Working age individuals save to accumulate wealth to support their expenses in retirement.…”

Section: Discussionsupporting

confidence: 77%

“…More recent findings confirm that changes in demographic variables are statistically significant for changes in certain macroeconomic variables, including savings and investment (Goh, McNown, & Wong, 2020). There are many program or product of investments that can be made with the goal of having an income in old age or after reaching retirement age, such as life insurance (Strzelecka, KurdyS-Kujawska, & Zawadzka, 2020) and pension fund (Simandl & Lesek, 2003).…”

Section: Introductionmentioning

confidence: 80%

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The Cross-Provincial Data of Life Expectancy Effect on Pension Fund in Indonesia

Ridho

Sabli

Setiawan

2021

IJSSB

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The data presented in this research is an observational cross-province study of life expectancy and pension funds. The data were extracted from the published database of Statistic Indonesia and Indonesia Financial Services Authority, covering a period of 2015 to 2019. The collected data were analyzed; using a panel data regression model on random effect assumptions with Generalized Least Squares. The finding of this research shows that there is a positive and significant effect of life expectancy on pension funds. This research paper data will assist in promoting the opportunity for pensions fund business or institution.

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Section: Discussionsupporting

confidence: 77%

Section: Introductionmentioning

confidence: 80%

The Cross-Provincial Data of Life Expectancy Effect on Pension Fund in Indonesia

Ridho

Sabli

Setiawan

2021

IJSSB

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“…Take Japan as an example, Japan gained aging society status in 1971. At that time, the per capita GDP was 10 times that of China, the urbanization rate had reached 72.67%, and the fertility rate was higher than that of China (Goh et al, 2020). Therefore, scholars conclude that China's population aging is presenting “aging before rich” (Huang et al., 2014; Jiang et al., 2006; Wu et al., 2007) and “old before ready” (Hu & Peng, 2018).…”

Section: Introductionmentioning

confidence: 99%

Is China’s urban–rural difference in population aging rational? An international comparison with key indicators

et al. 2021

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China's aging population is experiencing an urban–rural inversion phenomenon in that the rural population is aging faster. This is normal worldwide as studies have found that urban–rural differences in population aging have universal and phase characteristics. However, China's population aging presents a “polarization trend,” that is, the aging speed of areas with a deep aging degree is faster. In this paper, we try to test whether China's current urban–rural difference in population aging is rational if considered with China's current economic and social development. We adopted the four‐quadrant map analysis method and compare China with major developed and developing countries with key indicators. Data were mainly collected from databases by country, including the Statistical Yearbook, World Bank Database, and United Nations Database. Results show that urban–rural differences in China's aging population are significantly ahead of economic development and urbanization; this imbalance can explain the greater urban–rural disparity and the “polarization trend” in China's population. Results indicate that population aging's urban–rural differences are not necessarily exhibiting universal and phased characteristics in China. What's worse, the imbalanced population aging situation will make the rural poverty and the inter‐generational conflict more prominently. Public policies are necessary to deal with the current imbalance situation.

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“…Ghazouani et al (2020) empirically investigate the trade–energy–growth nexus in Asia-Pacific countries using the bootstrap ARDL approach. Goh and McNown (2020) apply the extension of ARDL model to identify the cointegration relationship between macroeconomic variables and demographic variables in Japan. Shahbaz et al (2020) examine the cointegration between carbon emissions and its determinant by using the bootstrapping ARDL model to reveal the role of technological innovations in China.…”

Section: Econometric Methodologymentioning

confidence: 99%

Does Globalisation Promote Economic Output in Sub-Saharan Africa? Evidence from Bootstrap ARDL Model

Dong

Cai

Shi

2021

Journal of Asian and African Studies

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This study aims to investigate whether globalisation promotes economic output in Sub-Saharan African countries in both the short run and the long run. Based on the latest version of the KOF globalisation index, we employ a newly developed bootstrap autoregressive distributed lag model to analyse this question. Compared to the traditional autoregressive distributed lag model, which ignores the degenerate cases, the new approach could avoid spurious cointegration. Results show that globalisation and economic output are positively correlated for most Sub-Saharan African countries, while the causal effect cannot be concluded except for a couple of exceptions. This finding implies that globalisation cannot guarantee an increase in economic output in the long run for most Sub-Saharan African countries. The Granger causality test shows that globalisation leads to economic output for Burundi, Gabon, Rwanda, Senegal and Zambia in the short run. Conversely, economic output leads to globalisation for Burkina Faso, Cameroon, Ghana, Kenya and Senegal. For Senegal, globalisation and economic output mutually determine each other and therefore form a positive spiral development path. Policymakers should be aware of the specific features of different economies in making sound globalisation policies to avoid the underlying adverse effects of global integration.

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Macroeconomic implications of population aging: Evidence from Japan

Cited by 32 publications

References 25 publications

The Cross-Provincial Data of Life Expectancy Effect on Pension Fund in Indonesia

The Cross-Provincial Data of Life Expectancy Effect on Pension Fund in Indonesia

Is China’s urban–rural difference in population aging rational? An international comparison with key indicators

Does Globalisation Promote Economic Output in Sub-Saharan Africa? Evidence from Bootstrap ARDL Model

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