Ageing population and economic growth: EU challenges ahead
Başlık çevirisi mevcut değil.
- Tez No: 722249
- Danışmanlar: Belirtilmemiş.
- Tez Türü: Yüksek Lisans
- Konular: Ekonomi, İşletme, Economics, Business Administration
- Anahtar Kelimeler: Ageing Population, Fertility, Panel Data Models, Human Capital, Labor Force
- Yıl: 2015
- Dil: İngilizce
- Üniversite: Unıversıtat Autónoma de Barcelona
- Enstitü: Yurtdışı Enstitü
- Ana Bilim Dalı: Belirtilmemiş.
- Bilim Dalı: Belirtilmemiş.
- Sayfa Sayısı: Belirtilmemiş.
Özet
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Özet (Çeviri)
After World War II, European countries started passing through a transition period namely demographic dividend thanks to baby boomers' high participation to labor market. Even though the demographic dividend period has brought undeniable contributions to European growth acceleration, it also stimulated a demographic burden in the following decades as a result of unsustainable characteristic of imbalanced population structure. Due to sharp increase in working age population, not only capital dilution and so decline in productivity took place, but also fertility rates in overall commenced shrinking. Moreover, during that period as seen all around the world, EU countries have sustained great improvements in life expectancy. As a result of augmented effects of decreasing fertility and higher life expectancy, EU countries had to face a new and undeniable fact: Aging Population. Ageing population commenced to penetrate member countries through its some certain economic impacts on areas such as public expenditures, consumption and saving patterns of age groups, labor market, total factor productivity and financial markets. In the light of the importance of ageing population on economic growth, this study focuses on a production function analysis of EU countries along with economic impacts of changing demographic structure of the EU overall. The obtained results have revealed significance of physical and human capital -which includes total factor productivity dimension- on growth momentum in the EU. With regard to demographic side of the regression, it has been found that 1 percentage point increase in the dependency has ended up with some 2.54 percent deterioration in EU growth. Thus, it might be pointed out that since it is expected to face more aged EU population in the next decades, dependent population will keep being burden on EU economic activity.
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