Effects of Demographic Change on Economic Growth: A Panel ARDL Approach for Selected OECD Countries
Küçük Resim Yok
Tarih
2023
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Univ Economics-Prague
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
The changing population dynamics have substantial impact on economy. This paper investigates the effects of demographic change on economic growth. The share of working age population, child dependency ratio, old-age dependency ratio and age dependency ratio are used as demographic variables. The effects of these variables on the gross domestic product per capita growth rate are examined for the OECD countries covering the period 1970-2021. Four different models are estimated by using panel ARDL estimation method. The findings derived from the estimated models point out that the old-age dependency ratio and age dependency ratio have negative effects on economic growth. On the other hand, the share of working age population has a positive effect on economic growth. These results suggest that demographic change causing an increase in the dependency ratio and a decrease in the share of working age population will have adverse impacts on economic performance in the long run.
Açıklama
Anahtar Kelimeler
demographic change, economic growth, panel ARDL
Kaynak
Prague Economic Papers
WoS Q Değeri
Q4
Scopus Q Değeri
Q3
Cilt
32
Sayı
6
