IDEAS home Printed from https://ideas.repec.org/a/spr/soinre/v173y2024i3d10.1007_s11205-024-03353-4.html
   My bibliography  Save this article

Exploring the Dynamics of the Elderly Population and Economic Growth: A Comparative Analysis Across Continents

Author

Listed:
  • Thaveesha Jayawardhana

    (Sri Lanka Institute of Information Technology)

  • Ruwan Jayathilaka

    (Sri Lanka Institute of Information Technology)

  • Sachini Anuththara

    (Sri Lanka Institute of Information Technology)

  • Thamasha Nimnadi

    (Sri Lanka Institute of Information Technology)

  • Ridhmi Karadanaarachchi

    (Sri Lanka Institute of Information Technology)

  • Kethaka Galappaththi

    (Sri Lanka Institute of Information Technology)

Abstract

This paper explores the cause-and-effect relationship between the elderly population and global economic growth, focusing on different continents. A panel dataset spanning from 1961 to 2020 is utilized, with Gross Domestic Product (GDP) serving as the key measure for economic growth, represented as the percentage change in annual GDP. The study specifically centers on individuals aged 65 and above as a percentage of the total population. The analysis employs a Panel Granger causality test to assess the impact of the elderly population on economic growth. The results reveal a unidirectional Granger causality for Africa and Oceania, suggesting a one-way influence from the elderly population to economic growth. Conversely, instances of bidirectional Granger causality are identified for Asia, Europe, North America, and South America, indicating a mutual influence between the elderly population and economic growth during the study period. The study concludes that an endogenous relationship between economic growth and the elderly population emerges, but notably, this relationship becomes apparent only after an economy has completed its transition in economic development. This implies that the dynamics of the elderly population and economic growth are interlinked, with the nature of their interaction becoming more pronounced in the later stages of economic development.

Suggested Citation

  • Thaveesha Jayawardhana & Ruwan Jayathilaka & Sachini Anuththara & Thamasha Nimnadi & Ridhmi Karadanaarachchi & Kethaka Galappaththi, 2024. "Exploring the Dynamics of the Elderly Population and Economic Growth: A Comparative Analysis Across Continents," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 173(3), pages 543-568, July.
    • Handle: RePEc:spr:soinre:v:173:y:2024:i:3:d:10.1007_s11205-024-03353-4
    DOI: 10.1007/s11205-024-03353-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11205-024-03353-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11205-024-03353-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:soinre:v:173:y:2024:i:3:d:10.1007_s11205-024-03353-4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.