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Contribution of increased life expectancy to economic growth: evidence from CEE countries

Gindra Kasnauskiene () and Karol Michnevic ()
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Gindra Kasnauskiene: Vilnius University
Karol Michnevic: Vilnius university

International Journal of Economic Sciences, 2017, vol. 6, issue 2, 82-99

Abstract: Population aging in a backdrop of growing life expectancy can be seen in many advanced economies, but the rapid pace of these demographic changes in Central and Eastern Europe (CEE) makes it a pressing issue for the region. We investigate these two phenomena and compare results with prior research to determine their separate and combined effect on output growth in a panel regression model using Eurostat data for the period of 1996 to 2013. Our findings point to increasing life expectancy having a negative effect on the economy and the share of the population in the 30-59 age range affecting it positively. The conclusions of our research demonstrate the utility of augmenting macroeconomic models with a demographics-sensitive component and the urgency of addressing the accelerating demographic decline in the region.

Keywords: demographics; life expectancy; population aging; economic growth; CEE countries (search for similar items in EconPapers)
JEL-codes: E10 J10 J11 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:82-99