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Ageing ascendances labour force participation in India: myth or reality?

Author

Listed:
  • Shrabanti Maity

    (Vidyasagar University)

  • Anup Sinha

    (Karimganj College)

  • Niranjan Roy

    (Assam University)

Abstract

The ageing of the population is a growing concern in both industrialised and emerging nations, including India. The growing number of greying people has severe consequences not only for the economy but also for labour force participation. The paper aims to investigate the impact of population ageing on the labour force participation rate in India, utilising data from the “World Bank”. As the time series variables are stationary at the first difference and co-integrated, we have employed the “Vector Error Correction Model” to explore the concerned objective. The findings show that population ageing has a severe impact on labour force participation rates in both the short and long run. The study concludes that technical advancement and the accumulation of human capital can address the decline in labour force participation. It emphasises that in order to achieve the “accumulation of human capital”, emphasis should be entrusted on “education” and “health”.

Suggested Citation

  • Shrabanti Maity & Anup Sinha & Niranjan Roy, 2024. "Ageing ascendances labour force participation in India: myth or reality?," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 26(3), pages 798-815, December.
    • Handle: RePEc:spr:jsecdv:v:26:y:2024:i:3:d:10.1007_s40847-023-00296-3
    DOI: 10.1007/s40847-023-00296-3
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    Keywords

    Population ageing; Labour force participation; Workforce; Human capital; Co-integration; Vector error correction model; India;
    All these keywords.

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • J00 - Labor and Demographic Economics - - General - - - General
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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