Asian ageing: The relationship between the elderly population and economic growth in the Asian context

Abstract

The elderly population and economic growth have been a contentious topic among researchers. Regardless of the economic growth rate, the population and its growth have a stimulating influence on economic development. This study aims to explore the relationship between the elderly population and economic growth in 15 Asian countries, based on secondary data gathered from the WDI (World Development Indicators) from 1961 to 2021. This research contributes to filling the empirical gap, capturing the Granger causality concerning the relationship between the elderly population and economic growth in the Asian context in a single study. The empirical findings highlighted a one-way Granger causality from economic growth to the elderly population for India, Japan, Malaysia, and Singapore while vice versa for Bangladesh, China, and Pakistan. Furthermore, for Nepal, there is a two-way Granger causality, while there is no Granger causality for remaining countries. To the best of the authors’ knowledge, this study has been the first to investigate the relationship between the elderly population and economic growth for Asian nations, using a lengthy data series and a Granger causality test. The main findings will assist the governments, policymakers, and foreign investors in effective decision-making in this regard.

Unveiling Sri Lanka’s brain drain and labour market pressure: A study of macroeconomic factors on migration

“…Each variable in a VAR model has a linear function of its prior values and the values of other variables [ 44 , 45 ]. The mathematical Eq 1 of the VAR model, initially supported by [ 46 , 47 ] represents the relationship of variables to elucidate macroeconomic and socioeconomic factors impacting migration in Sri Lanka. Where migration; GDPPCI, GDP per capita income (LKR); unemployment (rate); HE, higher education (total graduate output); EG, economic growth (real GDP growth rate); a 1 , constant term; b 11 , b 12 , b 13 and b 14 coefficients; u 1t, error term; t-1, time; j = p, lag value.…”

“…The stationarity of all variables has been established, as confirmed by the findings in Fig 3 . The VAR model is deemed stable when all the eigenvalues of its coefficient matrix are below one, as per the formal definition [ 20 , 46 , 48 ]. The S7 and S8 Appendices revealed that the eigenvalues in the researchers’ predictors fall within the unit circle; in Fig 3 , VAR model stratifies the stability criterion.…”

“…Each variable in a VAR model has a linear function of its prior values and the values of other variables [44,45]. The mathematical Eq 1 of the VAR model, initially supported by [46,47] represents the relationship of variables to elucidate macroeconomic and socioeconomic factors impacting migration in Sri Lanka.…”

“…Stationarity and stability are crucial assumptions for both individual data variables and the system, supporting the validity of multivariate and bivariate modelling within the VAR model framework. The stationarity of all variables has been established, as confirmed by the findings in Fig 3 . The VAR model is deemed stable when all the eigenvalues of its coefficient matrix are below one, as per the formal definition [20,46,48]. The S7 and S8 Appendices revealed that the eigenvalues in the researchers' predictors fall within the unit circle; in…”

Loneliness, Need to Belong, and Quality of Life Among Older Adults: A Gender Based Analysis

“…According to some scholars, it is a person's subjective perception of a scarcity of pleasant human connections (Huxhold et al, 2022), meaning that feelings of loneliness may persist even while accompanied by others (Neves et al, 2019). Pakistan, like many other countries, is witnessing demographic upheavals as a result of improved healthcare and higher life expectancy (Jayawardhana et al, 2023). Therefore, this demographic transformation necessitates the identification and management of specific aging-related requirements and difficulties (Van Orden et al, 2021).…”