Population age structure and savings rate impacts on economic growth: Evidence from Australia

Uddin, Gazi A.; Alam, Khorshed; Gow, Jeff

doi:10.1016/j.eap.2016.08.002

Cited by 43 publications

(39 citation statements)

References 35 publications

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“…In 2017, China's over‐65 population accounted for 10.64% of the total population. The growth of the ageing population will not only lead to increased HEX because of increased demand for health services, but also will impact on economic growth . This is because the birth rate in China is currently decreasing, so the trend in population ageing is further strengthened.…”

Section: Introductionmentioning

confidence: 99%

Demographic transition and economic growth: Evidence from China and United States

Zhang

Geng

2019

Health Planning & Management

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In the context of todays ageing population, this paper uses the connectedness network model proposed by Diebold and Yilmaz in 2014 to analyse the directionality and degree of interaction between the population ageing index, life expectancy, per capita gross domestic product, and per capita health expenditure from a systematic perspective for China; then, these results from China are compared with the United States. A number of new findings can be identified, as follows: (1) for China and the United States, economic growth may promote the growth of health expenditure and increased life expectancy may cause an increase in the ageing population; (2) China's population age structure has already led to some constraints on economic growth, whereas the United StatesUS's population age structure has had a weak impact on its economic growth; and (3) the ageing population structure for China has a net impact on per capita health expenditure, whereas no such net directional impact was found in the United States. These findings support the idea that policy synergies should be strengthened in the economic, social, and health fields in order to promote both the quality of life of the ageing population and the sustainable development of the economy. K E Y W O R D S connectedness network, health expenditure, life expectancy, per capita GDP, population ageing

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Section: Introductionmentioning

confidence: 99%

Demographic transition and economic growth: Evidence from China and United States

Zhang

Geng

2019

Health Planning & Management

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“…The theory of endogenous growth asserts that an economy can drive sustained growth without relying on external forces; according to that theory, endogenous technological progress is the determining factor that ensures sustained economic growth (Adak, 2015;Freire, 2019). The Solow growth model (Durlauf, Kourtellos, & Minkin, 2001) and the exogenous economic growth model have been put forward, and various factors thought to affect economic growth include capital (Hendrickson, Salter, & Albrecht, 2018), labor (Auzina-Emsina, 2014), the savings rate (Uddin, Alam, & Gow, 2016), the population growth rate (Bucci & Moritz M€ uller, 2018), and the technological progress rate (Alani, 2012).…”

Section: Economic Growth and Its Influencing Factorsmentioning

confidence: 99%

Aging and economic growth: is there a role for a two-child policy in China?

Liu

2020

Economic Research-Ekonomska Istraživanja

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The current study seeks to determine the type of population policy China should implement to effectively promote economic growth, especially in the context of its aging population. Using multiagent simulation technology, I integrate the two-child policy into a complex model featuring population, resources, and economic growth. My simulation results indicate that under the constraining effect of aging on economic growth, the implementation of a two-child policy alone could promote economic growth, albeit in a limited fashion: it would be more economically advantageous to combine a two-child policy with policy that promotes human capital growth. These findings provide new evidence regarding the relationship between population aging and economic growth. It is insufficient to emphasize only a liberalization of birth restrictions and promote population growth: rather, a combination of various policies would be more successful. A cluster of policies that aim to increase both fertility and investment in human capital can effectively curb economic recession otherwise caused by an aging population, and such a policy cluster could concurrently increase the supply of new labor and improve skills that appreciate with age.

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“…In a series of studies based on cross-country samples, the authors came to ambiguous conclusions about the influence of demographic factors on the savings of the population. For example, the study by Uddin et al (2016) evidenced the long-run negative relationship between the dependency ratio and savings rate in Australia in 1971-2014. Bosworth and Chodorow-Reich (2006) confirmed a strong negative impact of dependency ratios (total, for young people, for elderly) on the savings rate in Asian countries and their insignificance in industrial countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Determinants of Private Savings in the Form of Bank Deposits: A Case Study on Regions of the Russian Federation

Малкина

2019

Economies

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The paper is aimed at investigating the factors affecting the level of private deposits in banks in Russian regions and the verification of various theoretical concepts of personal savings. To achieve this purpose, we built a set of alternative Cobb–Douglas-type regressions with fixed time effects and logistic-type regressions based on panel data of 80 Russian regions from 2014–2016. Their estimations allowed us to reveal the dependence of private deposits in Russian regions at the level of real personal income and its structure, the personal income inequality, the demographic structure of the population, the state of the labor market, the level of accumulated wealth, the rate of urbanization, and the level of development of the financial system in the regions. Signs with variables summarize both direct and indirect effects of the input variables on the deposits, confirming some theoretical concepts and rejecting others, while the calculated elasticities show the strength of these effects. The results we obtained are applicable to the management of financial resources in Russian regions and the smoothing out of interregional differences in their development.

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Population age structure and savings rate impacts on economic growth: Evidence from Australia

Cited by 43 publications

References 35 publications

Demographic transition and economic growth: Evidence from China and United States

Demographic transition and economic growth: Evidence from China and United States

Aging and economic growth: is there a role for a two-child policy in China?

Determinants of Private Savings in the Form of Bank Deposits: A Case Study on Regions of the Russian Federation

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