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The Effect of Population Aging on the Fiscal Burden of Local Governments

In: Proceedings of the 2023 International Conference on Economic Management, Financial Innovation and Public Service (EMFIPS 2023)

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  • Kaijie Liang

    (University of Macau, Faculty of Social Sciences)

Abstract

China’s rapid and deep population aging has brought great effect and challenges to local governments fiscal. In the context of China’s national pooling of basic state pension has entered the implementation stage and the demographic changes of the 7th census. This paper explores the effect of population aging on fiscal burden based on provincial panel data from 2007 to 2019. The results show that at the national level, population aging disrupts the balance between local governments fiscal revenues and expenditures and increases the local fiscal burden. At the regional level, the effect of population aging on the fiscal burden of local governments is more significant in non-eastern regions compared to eastern regions. Therefore, the government should improve the current situation of population aging in China and promote the sustainable development of local governments fiscal from three perspectives: establish a comprehensive pension system, focus on the balance between fiscal expenditures and revenues, and establish a comprehensive fertility system.

Suggested Citation

  • Kaijie Liang, 2024. "The Effect of Population Aging on the Fiscal Burden of Local Governments," Advances in Economics, Business and Management Research, in: Peng Dou & Keying Zhang (ed.), Proceedings of the 2023 International Conference on Economic Management, Financial Innovation and Public Service (EMFIPS 2023), pages 193-205, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-441-9_18
    DOI: 10.2991/978-94-6463-441-9_18
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