THE INFLUENCE OF THE ELDERLY POPULATION ON ECONOMIC GROWTH IN CHINA

Xiaoliang Zhou () and Ting Li
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Xiaoliang Zhou: Economics, No. 2, Xueyuan Road, University Town, School of Economics and Management, Fuzhou University, P. R. China
Ting Li: Economics, No. 2, Xueyuan Road, University Town, School of Economics and Management, Fuzhou University, P. R. China

The Singapore Economic Review (SER), 2021, vol. 66, issue 06, 1595-1611

Abstract: While most studies have shown that an aging population has a negative impact on economic growth, the potentially positive factor of a young elderly population may be neglected. The purpose of this study is to investigate the following two hypotheses: the young elderly population (aged from 60 to 69) with a strong academic background has a positive impact on the economy in China, and the elderly population has a negative impact on the economy in China. Official provincial-level panel data from 1996 to 2016 for 29 provinces are utilized in fixed-effects models with and without controlling for heteroskedasticity and cross-sectional dependence, as well as in DIFF-GMM and SYS-GMM models in the dynamic panel regression estimation. The primary finding of this study is that young elderly people with a strong educational background can positively affect China’s economic growth and can partly alleviate the negative effect of the overall elderly population. This conclusion is quite robust regardless of which econometric method is adopted.

Keywords: Aging population; China; dynamic panel model; economic growth; young elderly with a strong academic background (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1142/S0217590818420080

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