Abstract
This paper investigates determinants of increases in elderly populations by utilizing econometric models such as panel data analysis. All the results support stylized fact in the relationship between elderly populations, fertility, and GDP per capita in the long run. However, bi-directional channels are found to exist regarding changes in elderly populations, signifying that the primary determinants of increases in elderly populations come from demographic aspects rather than social aspects in the short run. Regarding care of the elderly, social aspects therefore appear to be quite vulnerable. It could be asserted that social systems should be carefully developed to suit aging societies.
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