The impact of aging on economic growth based on EU panel data

Název práce: The impact of aging on economic growth based on EU panel data
Autor(ka) práce: Sun, Ruihanyu
Typ práce: Diploma thesis
Vedoucí práce: Formánek, Tomáš
Oponenti práce: Holý, Vladimír
Jazyk práce: English
Abstrakt:
With declining fertility rates, increasing rates of the elderly population, and increasing life expectancy, the aging of population has been a serious problem that should be addressed in European countries in the 21st century. As demographic factors are an essential variable influencing economic and social development, when some aging indicators change, the changes in their impact on economic growth deserve to be investigated in depth. There is a consensus in many theoretical studies that the aging of the population has an effect on economic development, but whether the effect is favourable or negative remains controversial. In this paper, after reviewing the study results on the effect of demographic aging on economic growth, the traditional economic growth model is improved by introducing variables that represent the factors of population aging to investigate the consequence about population aging on economic growth. The impact of population aging on economic performance is simultaneous in both the time and space dimensions. This paper includes the 27 members of the European Union as the study population and uses panel data from 2010-2019 to investigate the influence of demographic aging on economic growth in Europe. R-studio software is used to implement the process of data visualization and modeling in this paper to build static and dynamic panel models, respectively. The theoretical and empirical results show that population aging adversely affects economic expansion. Finally, considering the practical factors and based on the findings of the above study, encouraging the older workforce to return to the workplace, actively bringing in overseas labor,enhancing the quality of the crew, and vigorously developing the silver economy can help to mitigate the adverse effects on the economic expansion caused by population aging.
Klíčová slova: Population aging; Economics; Economic growth; Europe
Název práce: The impact of aging on economic growth based on EU panel data
Autor(ka) práce: Sun, Ruihanyu
Typ práce: Diplomová práce
Vedoucí práce: Formánek, Tomáš
Oponenti práce: Holý, Vladimír
Jazyk práce: English
Abstrakt:
With declining fertility rates, increasing rates of the elderly population, and increasing life expectancy, the aging of population has been a serious problem that should be addressed in European countries in the 21st century. As demographic factors are an essential variable influencing economic and social development, when some aging indicators change, the changes in their impact on economic growth deserve to be investigated in depth. There is a consensus in many theoretical studies that the aging of the population has an effect on economic development, but whether the effect is favourable or negative remains controversial. In this paper, after reviewing the study results on the effect of demographic aging on economic growth, the traditional economic growth model is improved by introducing variables that represent the factors of population aging to investigate the consequence about population aging on economic growth. The impact of population aging on economic performance is simultaneous in both the time and space dimensions. This paper includes the 27 members of the European Union as the study population and uses panel data from 2010-2019 to investigate the influence of demographic aging on economic growth in Europe. R-studio software is used to implement the process of data visualization and modeling in this paper to build static and dynamic panel models, respectively. The theoretical and empirical results show that population aging adversely affects economic expansion. Finally, considering the practical factors and based on the findings of the above study, encouraging the older workforce to return to the workplace, actively bringing in overseas labor,enhancing the quality of the crew, and vigorously developing the silver economy can help to mitigate the adverse effects on the economic expansion caused by population aging.
Klíčová slova: Economics; Population aging; Economic growth; Europe

Informace o studiu

Studijní program / obor: Kvantitativní metody v ekonomice/Quantitative Economic Analysis
Typ studijního programu: Magisterský studijní program
Přidělovaná hodnost: Ing.
Instituce přidělující hodnost: Vysoká škola ekonomická v Praze
Fakulta: Fakulta informatiky a statistiky
Katedra: Katedra ekonometrie

Informace o odevzdání a obhajobě

Datum zadání práce: 7. 11. 2020
Datum podání práce: 2. 5. 2021
Datum obhajoby: 3. 6. 2021
Identifikátor v systému InSIS: https://insis.vse.cz/zp/75040/podrobnosti

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