LINKAGES UNDERLYING THE INFLUENCE OF POPULATION AGEING ON ECONOMIC GROWTH AND POLICY IMPLICATIONS TO VIETNAM

2017 ◽  
Vol 126 (5B) ◽  
pp. 73
Author(s):  
Nguyễn Thị Thu Hà
Keyword(s):  
Economic Growth ◽  
Capital Accumulation ◽  
Population Ageing ◽  
Output Growth ◽  
Policy Implications ◽  
Ageing Population ◽  
Negative Effects ◽  
Ageing Society ◽  
The Government ◽  
The Impact

This paper is in line with literature reviews of ageing society and economic growth to provide a deeper knowledge of whether ageing population diminishes or enhances economic growth. The first part presents the causes of negative effects of population ageing on economic growth. It reveals that lower fertility, longer life expectancy, low consumption and high public spending on health care lead to aggregate output growth decline in the long-run. The following part attempts to explain the hypotheses of why ageing can contribute to economic growth. The key issue is the human capital accumulation according to the proposition of replicated economy. Furthermore, this part indentifies the elderly factors affecting economic growth, including effective labor, knowledge transfer and change in saving patterns. Accordingly, the conceptual framework is schematically shown with linkages underlying the impact of population ageing on economic growth. This study is expected to be the first research focuses on the schematic diagram of this relationship and will be useful for planning policy reform of the government of Vietnam. Lastly, after reviewing the overview picture of population ageing in Vietnam, some policy implications are suggested to take advantage of population ageing and to diminish negative effects of population ageing on economic growth.

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

scholarly journals Investigating the business performance on the financial well-being of the Government retirees

2021 ◽  
Vol 124 ◽  
pp. 03006
Author(s):  
Abdul Mutalib Embong ◽  
Norzamziah Afzainizam ◽  
Mariati Norhashim ◽  
Amirsaman Ahmadi
Keyword(s):  
Business Performance ◽  
Profile Analysis ◽  
Descriptive Analysis ◽  
Well Being ◽  
The Elderly ◽  
Population Ageing ◽  
Ageing Population ◽  
Cross Sectional ◽  
The Government ◽  
The Impact

Population ageing; where there is growth in the percentage of older persons in the population; is becoming a worldwide phenomenon due to better healthcare and lower birth rates. The phenomenon of population ageing brings with it both challenges and opportunities. The challenges of an ageing population include social, health and economic support of the elderly. Malaysia is recognizing the need to address this issue of financially supporting an ageing population. The purpose of the paper was to investigate the impact of business on the financial well-being (FWB) of the ageing, specifically the government retirees. A questionnaire-based survey was conducted among retirees who were in business throughout Malaysia that employed a cross sectional design. Forty-one respondents were successfully interviewed. Statistical procedures for the analyses included descriptive analysis and a profile analysis using scatterplot on the perceived business performance vs financial well-being. The survey revealed that the majority of the respondents operated business in the services, trade or retail industries which were set up and fully owned by themselves. Resource wise, the majority had very low financial capital, human capital and social capital. The study provides some empirical evidence that the retirees in business may be categorized into opportunity driven and necessity driven groups. The paper concludes that there is a need to find alternative income generation methods for the necessity driven group. Making paid work accessible to the elderly must be urgently put on the national agenda.

scholarly journals The potential for civic engagement of older persons in the ageing society of Thailand

2019 ◽  
Vol 33 (5) ◽  
pp. 386-397
Author(s):  
Kanchana Tangchonlatip ◽  
Aphichat Chamratrithirong ◽  
Aksarapak Lucktong
Keyword(s):  
Civic Engagement ◽  
Older Persons ◽  
Policy Implications ◽  
Active Ageing ◽  
Ageing Society ◽  
Content Type ◽  
Productive Activities ◽  
The Government ◽  
The Impact ◽  
Willingness To Engage

Purpose Several studies revealed the importance of older persons’ contribution to society. The enhancement of their potential to engage in civic activities should be encouraged. The purpose of this paper is to investigate factors associated with their civic engagement potential. Design/methodology/approach Data are from Thailand’s National Survey of Older Persons conducted by the National Statistical Office in 2011. A sample of 24,433 persons aged 60 years or older was analyzed to assess their engagement in four community activities. The data were subjected to logistic regression analysis. Findings This study found that the readiness and willingness to engage in socially productive activities of Thai older persons ranged from 7 to 23 percent depending on type of activities. The factors of ageing health, confidence in their family’s ability to assist them, and satisfaction with government services were significantly associated with their readiness and willingness to engage in socially productive activities. Inadequacy of income was not found to be an obstructing factor toward their readiness and willingness to engage in civic life in general, it inhibited only the sharing of knowledge and skills with others. Originality/value The findings reflect the impact of internal constraining factors and external enhancing factors on engagement of Thai older persons in civic activities. Policy implications on the role of the government to promote active ageing are discussed.

scholarly journals Disaster Impact, National Aid, and Economic Growth: Evidence from the 2008 Wenchuan Earthquake

2018 ◽  
Vol 10 (12) ◽  
pp. 4409 ◽  
Author(s):  
Renjie Zhao ◽  
Shihu Zhong ◽  
Aiping He
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Wenchuan Earthquake ◽  
Capital Accumulation ◽  
Empirical Studies ◽  
Policy Implications ◽  
Economic Recovery ◽  
Obvious Effect ◽  
2008 Wenchuan Earthquake ◽  
The Government

How disasters have affected economic growth has often been a subject for economic debate, and empirical studies of the experience in China are clearly inadequate. Using the panel data from 181 county-level cities in Sichuan province from 2003 to 2013, this paper investigates the direct and dynamic effects of the Wenchuan earthquake disaster on economic growth, as well as how national rescue affected postdisaster economic recovery. The econometric results show that earthquakes significantly reduce real GDP in the affected areas after controlling for the national rescue variables, and this negative effect exists in the affected area over a long time. In addition, our empirical findings suggest that the postdisaster national rescue can promote economic recovery in the affected areas by increasing government expenditure, improving traffic conditions, and enhancing the urbanization process and the level of industrialization. Besides, state financial aid has no obvious effect on the development of tertiary industries and the accumulation of human capital in affected areas. These results were found to be robust after applying several approaches to alleviate the potential endogeneity problem. Findings in this study carry several important policy implications. As well as providing national rescue to promote postdisaster reconstruction, the government should also develop policies that will provide direct aid funding to tertiary industries and boost postdisaster economic reconstruction and human capital accumulation, thus improving the efficiency of relief funding and reducing the long-term adverse effects of the disaster on economic growth.

scholarly journals Impact of an Ageing Society on Healthcare Expenditure of National Health Insurance in Taiwan

2019 ◽  
Vol 21 (2) ◽  
pp. 49-56
Author(s):  
Karina Agustin ◽  
Shou-Yan Chou
Keyword(s):  
Health Insurance ◽  
National Health Insurance ◽  
National Health ◽  
Healthcare Expenditure ◽  
Profile Analysis ◽  
Health Care Expenditure ◽  
Population Ageing ◽  
Ageing Society ◽  
The Government ◽  
The Impact

The increase in healthcare expenditure always becomes an issue considered by the National Health Insurance (NHI) program in Taiwan. Accordingly, analyzing the root cause is a significant first step in dealing with this issue. This study hypothesized that the greying population in Taiwan is the main reason that devours a vast health care expenditure. Samples of the population in Taiwan's National Health Insurance databases together with age-expenditure profile analysis and decomposing approach of the components of healthcare expenditure will analyze the impact of population ageing and estimate the contributions of population ageing shifting to NHI's expenditure in Taiwan.  The result could be considered for policymakers and the government to overcome this issue in Taiwan.

scholarly journals UNEMPLOYMENT AND ECONOMIC GROWTH IN NIGERIA: DOES OKUN’S LAW MATTERS?

10.23856/3203 ◽  
2019 ◽  
Vol 32 (1) ◽  
pp. 26-37
Author(s):  
Oluwaseyi Adedayo Adelowokan ◽  
Adeteji Olusegun Оkutimiren
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Unemployment Rate ◽  
Government Expenditure ◽  
Output Growth ◽  
Sustainable Growth ◽  
Okun’S Law ◽  
Okun's Law ◽  
The Government ◽  
The Impact

The situation in Nigeria is rapid population growth with high level of unemployment rate. The theoretical proposition of the Okun’s law suggests an indirect relationship existing between unemployment and output growth. This study tests the validity of Okun’s law by examining the impact of youth employment generation on sustainable growth in the Nigerian economy. We modeled real gross domestic product against unemployment rate, population growth, labour and government expenditure between 1986 and 2017. The empirical findings show that there is short- and long- run relationship existing between unemployment rate, population growth and output growth in Nigeria. Hence, study recommends that the activities by the government in promoting economic growth in the country should be geared towards promoting employment for the people in other sector.

scholarly journals The Relationship of Economic Growth and Foreign Direct Investment on Financial Development: Empirical Evidence from Palestine

2021 ◽  
pp. 14-35
Author(s):  
Nemer Badwan
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Stock Market ◽  
Financial Development ◽  
Capital Accumulation ◽  
Direct Investment ◽  
Output Growth ◽  
The Impact ◽  
The Relationship

Purpose: The purpose of this research is to investigate the impact and current link between economic growth and foreign direct investment (FDI) on financial development in Palestine, as well as the role of financial development in influencing this relationship. Design/Methodology/Approach: The logical reasoning approach associated with quantitative research was applied in this study, which was backed up by experience and positivism as philosophical viewpoints. Data on economic growth indicators, foreign direct investment (FDI), financial development, and other control variables were also used, spanning the years (1998 to 2019). To determine whether there is an effect and a relationship between economic growth, foreign direct investment (FDI), and financial development in Palestine, Johansen's co-integration analysis method will be used. Results: Johansen's co-integration discovered that economic growth, foreign direct investment (FDI), and financial development have a favourable influence and a Long-Term association. Furthermore, there was a statistically significant relationship between stock market financial development indices and foreign direct investment (FDI). Practical Implications: This study adds to the literature by evaluating whether foreign direct investment (FDI) drives growth through financial development networks and other factors that can drive growth in addition to foreign direct investment (FDI). A well-developed financial market, according to research, will boost the impact of indirect foreign direct investment (FDI) on economic growth. By offering enough liquidity services that increase links between local and global investors, a well-developed stock market will promote capital accumulation activities and output growth. Originality/Value: This study is unique in that it examines the impact and relationship between economic growth and foreign direct investment (FDI) in Palestine on financial development, which must be considered in all developing countries' Long-Term development plans. Simultaneously, this study is a step ahead in examining the relationship between economic growth and foreign direct investment (FDI) in Palestine, as well as their primary function in financial development.

Economic Growth and Fiscal Sustainability in the EU: The Impact of an Ageing Population

2008 ◽  
Author(s):  
Giuseppe Carone ◽  
Declan Costello ◽  
Nuria Diez Guardia ◽  
Per Eckefeldt ◽  
Gilles Mourre
Keyword(s):  
Economic Growth ◽  
Fiscal Sustainability ◽  
Ageing Population ◽  
The Impact ◽  
The Eu

The Effects of Oil Prices Changes on Output Growth and Inflation: Evidence from Turkey

2013 ◽  
Vol 5 (11) ◽  
pp. 730-739 ◽  
Author(s):  
Pelin ÖGE GÜNEY
Keyword(s):  
Time Series Data ◽  
Output Growth ◽  
Oil Price ◽  
Series Data ◽  
Negative Effects ◽  
Price Changes ◽  
Asymmetric Effects ◽  
Price Increases ◽  
Causality Tests ◽  
The Impact

This paper investigates the effects of oil price changes on output and inflation for the case of Turkey using monthly time series data for the period 1990:1–2012:3. Recent studies suggest that oil price changes may have asymmetric effects on the macroeconomic variables. To account for asymmetric effects, we decompose oil price changes into positive and negative parts following Hamilton (1996). Our results show that while oil price increases have clear negative effects on output growth, the impact of oil price decline is insignificant. Similarly, oil price increases have positive and significant effects on inflation. However, oil price declines have not a significant effect on inflation. The Granger causality tests also support these results.

Cuba's “Equity without Growth” Dilemma and the 2011 Lineamientos

2012 ◽  
Vol 54 (03) ◽  
pp. 157-184 ◽  
Author(s):  
Javier Corrales
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Internet Access ◽  
Economic Reforms ◽  
Political Rights ◽  
Bicycle Industry ◽  
The Government ◽  
The Impact ◽  
Two Sectors

Abstract Cuba faces a development dilemma: it promotes equity and human capital while failing to deliver economic growth. For the government, the country's equity and human capital achievements are a source of pride, a sign that its priorities are right. This essay argues instead that this “equity without growth” dilemma is a sign of malaise. Theory and evidence suggest that high levels of equity and human capital should produce high levels of economic growth. Because growth is often weak or negative, some onerous barriers to development must be present. These barriers, it is argued, are restrictions on property and political rights. By comparing Cuba and China across two sectors, the bicycle industry and Internet access, this article shows how these restrictions have hindered growth. It also assesses how Cuba's latest economic reforms, the so-called Lineamientos, will address Cuba's development dilemma. The impact may be minimal, but perhaps more lasting than previous reforms.

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