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Population Aging, Middle-Income Trap, And Economic Growth: An Empirical Study Of Asian Economies

Author

Listed:
  • JIUN-NAN PAN

    (Discipline of Accounting, College of Management, Yuan Ze University, Taoyuan 320, Taiwan, ROC)

  • MING-LEI CHANG

    (Department of Accounting, College of Business, Chung Yuan Christian University, Taoyuan 320, Taiwan, ROC)

Abstract

Population aging and the middle-income trap are serious problems felt worldwide, especially in terms of their powerful influence on economic growth. In order to explore the relationships among population aging, middle-income trap, and economic growth, this study uses a panel data of 27 economies in Asia from 1995 to 2016. The primary finding of this study is that lower-middle-income economies are facing the problem of middle-income trap, indicating that the economic growth rates of lower-middle-income economies are slowing down. In addition, population aging has a statistically significant and negative influence on the growth rate of GDP in the high-income economies, but it has a statistically significant and positive influence on the growth rate of GDP in the low-income and lower-middle-income economies. This study suggests that increasing women’s labor participation, technology innovation, and immigration could solve the problems of population aging and the middle-income trap.

Suggested Citation

  • Jiun-Nan Pan & Ming-Lei Chang, 2021. "Population Aging, Middle-Income Trap, And Economic Growth: An Empirical Study Of Asian Economies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 66(06), pages 1577-1594, December.
    • Handle: RePEc:wsi:serxxx:v:66:y:2021:i:06:n:s0217590818420092
    DOI: 10.1142/S0217590818420092
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