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Population aging and sustainable economic development: An analysis based on the role of green finance

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  • Wang, Lili
  • Liang, Jian
  • Wang, Beibei

Abstract

Globally, the issue of population aging is becoming increasingly prominent, posing significant challenges to sustainable economic development. In this context, this study utilizes provincial panel data from 2001 – 2021 to thoroughly examine the effects of population aging on sustainable economic development. The findings indicate that population aging exerts a notable negative influence on sustainable economic development, while green finance plays a moderating role by effectively alleviating the adverse effects of aging on the economy. This suggests that green finance is a viable strategy for addressing the challenges associated with aging. Additionally, the heterogeneity analysis reveals significant variations in the impact of aging on economic sustainability across regions with different levels of economic development and population structures. This study not only offers new insights into the complex effects of population aging on economic development but also provides crucial empirical evidence for crafting targeted regional policies.

Suggested Citation

  • Wang, Lili & Liang, Jian & Wang, Beibei, 2024. "Population aging and sustainable economic development: An analysis based on the role of green finance," Finance Research Letters, Elsevier, vol. 70(C).
    • Handle: RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324012686
    DOI: 10.1016/j.frl.2024.106239
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    3. Lee, Chien-Chiang & Li, Jiangnan & Xia, Ziqian & Xie, Linrui, 2025. "Elderly population migration and urban energy consumption: Voluntary relocation or forced displacement?," Energy Economics, Elsevier, vol. 149(C).
    4. Anghel Madalina-Gabriela & Strijek Denis-Arthur, 2025. "The Labour Market In Romania Under The Pressure Of Demographic Ageing: Analysis Of The Employment Rate And Old-Age Dependency," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 35-45, October.
    5. Liu, Yi & Lyu, Miao, 2025. "Regional vitality and population growth: The reality of the Yangtze River Economic Belt," Finance Research Letters, Elsevier, vol. 74(C).
    6. Anis Omri & Fadhila Hamza & Sana Slimani, 2025. "The Role of Green Finance in Driving Artificial Intelligence and Renewable Energy for Sustainable Development," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(5), pages 6844-6870, October.
    7. Jing, Zhongying & Li, Zheng & Zheng, Ping, 2025. "Population aging and corporate innovation Performance: evidence from China," International Review of Economics & Finance, Elsevier, vol. 101(C).
    8. Grechyna, Daryna & Ofori, Pamela Efua, 2025. "Robust determinants of green finance," Energy Economics, Elsevier, vol. 152(C).
    9. Ji, YanLong & Li, JinYe, 2025. "Population aging, digital economy and family tourism consumption," Finance Research Letters, Elsevier, vol. 82(C).

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