The impact of population aging on economic growth in Korea: Revisiting the export-led growth hypothesis framework

Jun Ho Seok and Soo-Eun Kim

The Journal of International Trade & Economic Development, 2024, vol. 33, issue 6, 1091-1107

Abstract: This study investigated the impact of population aging on the relationship between exports and economic growth in Korea using the export-led growth hypothesis framework with an autoregressive distributed lag model and data for the period 1990–2021. We found that export positively influenced economic growth. However, the effect of export on economic growth was negative considering population aging. Furthermore, the negative effect of export increased with aging. Our results also show a positive effect of population aging on economic growth in the long run, which implies the dominance of the human capital effect over the negative productivity effect. Hence, our results indicate that developed countries seeking to achieve sustainable growth through exports should control the population aging problem. Our study suggests two possible policies for solving the population aging problem: promote births and encourage immigration growth.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/09638199.2023.2235434 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:jitecd:v:33:y:2024:i:6:p:1091-1107

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJTE20

DOI: 10.1080/09638199.2023.2235434

Access Statistics for this article

The Journal of International Trade & Economic Development is currently edited by Pasquale Sgro, David E.A. Giles and Charles van Marrewijk

More articles in The Journal of International Trade & Economic Development from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().