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Demographic Change and Economic Growth

In: The Silver Market Phenomenon

Author

Listed:
  • T. Fent

    (Austrian Academy of Sciences)

  • B. Mahlberg

    (Vienna University of Economics and Business Administration
    Vienna University of Economics and Business Administration)

  • A. Prskawetz

    (Austrian Academy of Sciences
    Vienna University of Technology)

Abstract

In this chapter we discuss the relationship between changes in a country’s age structure and its economic growth and productivity. We summarize the recent literature on the impact of a country’s age structure on economic growth and relate the results to our own empirical findings. Our results indicate a positive impact of the age group 50–64 on economic growth. Moreover, a high proportion of people in the age group 15–29 facilitate technology absorption. The use of matched employer–employee data sets allows us to estimate age-productivity profiles at the firm level. Considering all firms in the data set reveals a negative productivity effect of the share of older workers (50+). Considering only large firms reveals no impact of the age structure in the mining and manufacturing industries and a negative impact of the share of younger workers for the non-manufacturing sector.

Suggested Citation

  • T. Fent & B. Mahlberg & A. Prskawetz, 2008. "Demographic Change and Economic Growth," Springer Books, in: Florian Kohlbacher & Cornelius Herstatt (ed.), The Silver Market Phenomenon, chapter 1, pages 3-16, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-75331-5_1
    DOI: 10.1007/978-3-540-75331-5_1
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    Citations

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    Cited by:

    1. Milanez Ana, 2020. "Workforce Ageing and Labour Productivity Dynamics," Naše gospodarstvo/Our economy, Sciendo, vol. 66(3), pages 1-13, September.
    2. Shrabani Saha & Kunal Sen, 2019. "The corruption-growth relationship: Do political institutions matter?," WIDER Working Paper Series wp-2019-65, World Institute for Development Economic Research (UNU-WIDER).
    3. Davis, Colin & Hashimoto, Ken-ichi & Tabata, Ken, 2022. "Demographic structure, knowledge diffusion, and endogenous productivity growth," Journal of Macroeconomics, Elsevier, vol. 71(C).
    4. Paula Prenzel & Simona Iammarino, 2018. "Ageing labour: How does demographic change affect regional human capital?," Papers in Evolutionary Economic Geography (PEEG) 1832, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Aug 2018.
    5. Mahlberg, Bernhard & Freund, Inga & Prskawetz, Alexia, 2011. "Ageing, productivity and wages in Austria: Evidence from a matched employer-employee data set at the sector level," ECON WPS - Working Papers in Economic Theory and Policy 02/2011, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    6. Richter, Doreen, 2014. "Demographic change and innovation: The ongoing challenge from the diversity of the labor force," management revue. Socio-economic Studies, Rainer Hampp Verlag, vol. 25(3), pages 166-184.
    7. Richter, Doreen, 2014. "Demographic change and innovation: The ongoing challenge from the diversity of the labor force," management revue - Socio-Economic Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 25(3), pages 166-184.
    8. Bernhard Mahlberg & Inga Freund & Alexia Prskawetz, 2013. "Ageing, productivity and wages in Austria: sector level evidence," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 40(4), pages 561-584, November.
    9. Marie-Thérèse Letablier & Angela Luci & Antoine Math & Olivier Thévenon, 2009. "The costs of raising children and the effectiveness of policies to support parenthood in European countries: a Literature Review," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00408899, HAL.
    10. Nicole Van Der Gaag & Joop Beer, 2015. "From Demographic Dividend to Demographic Burden: The Impact of Population Ageing on Economic Growth in Europe," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 106(1), pages 94-109, February.
    11. Elena Nebolsina, 2020. "The Impact of Demographic Burden on Insurance Density," SAGE Open, , vol. 10(4), pages 21582440209, December.
    12. Katharina Frosch, 2009. "Do only new brooms sweep clean? A review on workforce age and innovation," MPIDR Working Papers WP-2009-005, Max Planck Institute for Demographic Research, Rostock, Germany.
    13. Roli Misra, 2015. "Impact of Demographic Dividend on Economic Growth," International Studies, , vol. 52(1-4), pages 99-117, January.
    14. Chaurasia, Aalok Ranjan, 2020. "Economic Growth and Population Transition inChina and India 1990-2018," MPRA Paper 101130, University Library of Munich, Germany.

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