Demographic aging impact on economic indicators

Abstract

In the world population there are 2 billion people over the age of 60 and this number is growing five times faster than the overall population. Meanwhile, fertility rates over the past decades decreased about 40 %. These rapidly changing demographic indicators increase important aging population problems. Public, global, and in general demographic aging is the last century problem. Population growth has been in constant decline since the middle of 1970 when the adult working age population has exceeded the population of children (Mason and Lee, 2011). This article dealt with the demographic aging of the traditional view of the population age structure change, the percentage of older people in society. The aging population is considered to be the percentage of 65 and older people in the general population. Demographic aging phenomenon raises an important issue: how aging population affects the economic indicators which are relevant to society as a whole. Demographic changes are generally perceived as having a negative impact on national economies (Mason and Lee, 2011; Kanopienė, Mikulionienė, 2006), so researchers usually consider the phenomenon of demographic aging as a negative aspect. Most of the literature suggests that there are negative effects of population aging on economic growth (Narciso, 2010; Bloom et al., 2010; Lisenkov et al., 2012; Walder and DA¶ring, 2012). The aging society is becoming less productive in the labor market, the number of workers per pensioner is decreasing, healthcare costs demand keeps raising and investment in human resources, labor market changes depend on the activity of the working people. The elderly population is increasing worldwide, and the problem will be particularly acute in the coming decades. It is very important to pay special attention to demographic problems (especially demographic aging) and the analysis of the results obtained, which provide information on economic development and prosperity, to seek solutions to this problem. Object of the research : demographic aging. The aim of the research is to identify and evaluate the impact of demographic aging on economic indicators. The tasks of research: 1. identify the factors which are influenced by demographic aging; 2. investigate the impact of demographic aging on economic indicators; 3. propose possible alternative solutions. Research methods : literature analysis, statistical analysis, correlation and regression analysis, information systematization, grouping, alignment.