Population Ageing, Financial Deepening and Economic Growth: Evidence from China

Zhao, Shangmei; He, Jiang; Yang, H. J.

doi:10.3390/su10124627

Cited by 17 publications

(10 citation statements)

References 54 publications

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“…The coefficients of fixed capital investment are positive and statistically significant in most of the regression equations. This result suggests that fixed capital investment is positively associated with GDP growth, which is consistent with the findings of the previous studies (Barro & Lee, 1994;Zhao et al, 2018). The coefficients of labor growth are positive and statistically significant, while also in line with previous studies of Jouini (2015) and Sulaiman et al (2015).…”

Section: Resultssupporting

confidence: 91%

The Nexus Between Trade Openness and GDP Growth: Analyzing the Role of Human Capital Accumulation

et al. 2020

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The objective of this study is to explore the empirical impact of trade openness on gross domestic product (GDP) growth. Researchers have not given the externalities of trade openness the deserved scholarly attention. In this work, we propose to account for human capital accumulation (HCA) as an additional dimension of economic trade integration. To address the potential endogeneity issue, we use the system generalized method of moments (GMM) estimator developed for dynamic panel data models. The results outline an intriguing indirect relationship between trade openness and GDP growth. If HCA is taken into account as an intervening variable, trade may have a negative impact on GDP growth when countries exhibit a low level of HCA. Thus, the indirect relationship between trade openness and HCA was studied in depth, and to the best of our knowledge, this research is the first to examine this relationship in both developed and developing countries over a 34-year period (1980–2014). The established GMM-centric thresholds are robust to alternative estimation techniques and measurements of trade openness. Policy implications are discussed.

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Section: Resultssupporting

confidence: 91%

The Nexus Between Trade Openness and GDP Growth: Analyzing the Role of Human Capital Accumulation

et al. 2020

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“…To ensure the robustness of the study results, two methods are used to test them. First, the adjacency space matrix (W2), geographic distance weight matrix (W3), and economic geographic nested matrix (W4) are used; second, the core explanatory variables Old are replaced (Zhao et al, 2018). The robustness of the empirical model (Table 8) is validated by replacing the explained variable and replacing the spatial weight matrix for regression.…”

Section: Resultsmentioning

confidence: 99%

The Role of Population Aging in High-Quality Economic Development: Mediating Role of Technological Innovation

Gao,

Chen,

et al. 2023

SAGE Open

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This paper aims to research the relationship between population aging, technological innovation, and high-quality economic development. The study applies the spatial econometric model and the intermediary effect model. The object of investigation is 31 provinces in China from 2013 to 2020. The results show that population aging has a significant effect on technological innovation and high-quality economic development. In addition, population aging promotes technological innovation and is further conducive to high-quality economic development. In addition, the impact of population aging on high-quality economic development is regionally heterogeneous. Thus, population aging in the eastern and central regions stimulates technological innovation to have a positive impact on high-quality economic development. Population aging in the western region inhibits technological innovation and has a negative impact on high-quality economic development. Based on this, the study proposes countermeasures to promote high-quality economic development.

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“…This finding is consistent with the Solow model expectation that higher population growth leads to slower economic growth. In the Chinese context, it was revealed that there are significant interactions between population aging and financial deepening; however, such interactions have a significant negative correlation with economic growth (Zhao et al , 2018). This draws on the necessity to account for the population age and the interaction effect to extract clearer results.…”

Section: Empirical Results and Discussionmentioning

confidence: 99%

Triple vectorial analysis of financial development impact on economic growth: evidence from the Middle East and Central Asia

Khoury

Harb

Nasrallah

2021

IJOEM

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PurposeThis paper provides a state-of-the-art review of the financial development in the Middle East and Central Asia (MECA) and examines its impact on its economic growth.Design/methodology/approachThe authors use a Panel Data Regression Analysis on a sample of 21 countries in MECA for the period 2008–2018.FindingsUsing the financial development indices and subindices retrieved from IMF, the study finds that the whole region has a below average index compared to other developing regions. However, this hides a great deal of variation across MECA countries. Surprisingly, financial development does not necessarily contribute to economic growth. It seems that some developing countries are still not predisposed to benefit from financial development due to several obstacles.Practical implicationsThe authors recommend policymakers and regulators in MECA to promote financial stability and keep inflation in check so that economic agents can reap the fruits of financial development and foster economic growth. Policymakers should also stimulate competition in the financial sector, build skillful human capital, attract foreign direct investments, strengthen supervision and forensic audit and more importantly reinforce the independence of central banks.Originality/valueThe authors mitigate the shortcomings of single indicators as proxies for financial development by using the IMF Financial Development index that captures the depth, access and efficiency of both financial institutions and financial markets. The authors employ lower-middle-, upper-middle and high-income country groups to test the magnitude of income level on the relationship between financial development and economic growth.

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Population Ageing, Financial Deepening and Economic Growth: Evidence from China

Cited by 17 publications

References 54 publications

The Nexus Between Trade Openness and GDP Growth: Analyzing the Role of Human Capital Accumulation

The Nexus Between Trade Openness and GDP Growth: Analyzing the Role of Human Capital Accumulation

The Role of Population Aging in High-Quality Economic Development: Mediating Role of Technological Innovation

Triple vectorial analysis of financial development impact on economic growth: evidence from the Middle East and Central Asia

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