| Population aging is a common problem all over the world;it will seriously affect social and economic development.With the continuous development of social economy,the level of public health and medical technology is constantly improving,and the life expectancy has also increased.Coupled with the decline in fertility caused by many factors,the trend of population aging has become an important issue facing all countries in the world.Against the backdrop of a slowdown in global economic growth,population aging will put more pressure on the sustainable development of the economy and society.In recent years,China's economic growth has slowed down gradually,accompanied by an aging society.Rapid population aging has gradually diminished demographic dividend,thus bringing tremendous pressure on economic growth and social development.In view of this,whether the elderly care integrated with medical is an effective way to solve the negative impact of aging on economic growth,by promoting healthy aging,is the primary problem to be solved in this study.This paper goes on to explore how to achieve the goal of healthy aging in China and compare the model of “separation of medical and elderly care” with the model of “the elderly care integrated with medical” to achieve healthy aging.This paper then explores how to implement a more advantageous model of elderly care integrated with medical by supply side.The investment mechanism is firstly studied to solve the realistic problem of of investment constraints under the goal of healthy aging.Furthermore,this paper attempts to prove the mechanism and path of alleviating the negative pressure on economic growth through healthy aging theoretically.Finally,this paper explores whether the elderly care integrated with medical is conducive to improving the level of healthy aging and whether it is necessary to vigorously develop.And how to improve the investment mechanism and investment efficiency to alleviate the serious contradiction between the supply and demand of the elderly care integrated with medical,by the goal of improving the level of healthy aging,and ultimately promote the long-term sustainable development of the economy and societyThis paper is divided into 6 chapters.Chapter 1 is the introduction including the literature review.Chapter 2 studies the relationship between healthy aging and economic growth by theoretical model and empirical research based on the analysis of the relationship between population aging and economic growth.Having summarized the trend and characteristics of the world's population aging,panel data of 184 countries(regions)of the world bank are used for empirical analysis.The regression results show that population aging has a significant slowing effect on economic growth.In order to cope with the predicament of population aging and the pressure of future economic growth,this paper proposes that the elderly care integrated with medical is a possible solution by promoting healthy aging.Therefore,by constructing an endogenous growth model of government and family,which includes age structure and healthy human capital,and considering the healthy human capital held by the elderly under healthy aging,we have found that both government and family health investment can promote economic growth through the spillover benefits of healthy aging.Moreover,we also discussed the guiding effect of government investment on household investment and its long-standing ‘inverted U-shaped relationship' with economic growth.On the basis of theoretical model analysis,we further validate the relationship between healthy aging and economic growth through empirical analysis.Regression results show that healthy aging can promote economic growth.Among those countries with lower level of economic development and more serious the population aging,the positive spillover effect of healthy aging on economic growth is more obvious.Chapter 3 studies the relationship between the elderly care integrated with medical.After comparing the elderly care integrated with medical and the separation of medical and elderly care,this paper argues that the elderly care integrated with medical is helpful to healthy aging from various perspectives.Based on the empirical analysis of data from 35 OECD countries,this paper examines the relationship between elderly care integrated with medical and healthy aging.The regression results show that elderly care integrated with medical helps to improve the level of healthy aging.Therefore,we need to further study how to develop the elderly care integrated with medical.From the experience of developed countries with more serious aging population,it is revealed that the government usually plays a leading role in establishing and improving the elderly care integrated with medical.Chapter 4 depicts the serious shortage of supply of the elderly care integrated with medical and studies the historical and institutional causes of the problems.Furthermore,this paper summarizes the existing investment model of the elderly care integrated with medical in China and their advantages and disadvantages,as well as its investment income and risk factors,which points out that investment constraints are the main reasons for the shortage of the elderly care integrated with medical.Chapter 5 proposes that improving the investment mechanism is the main way to solve the investment constraints of the elderly care integrated with medical,starting from the supply side reform.Furthermore,this paper studies the relationship between government investment and economic growth through empirical data of OECD countries on the basis of theoretical model analysis in Chapter 2.The conclusion shows that there is an inverted U-shaped relationship between government investment in health care and economic growth.In the early stage,government investment should be increased.While increasing total investment,the growth of private investment can be guided to increase total investment together,so as to promote healthy aging and economic growth.However,in the long run,blindly increasing the proportion of government investment will squeeze out the government's material capital investment,which will make the contribution of the combination of medical care and government investment to economic growth decline.Therefore,it is an ideal investment mechanism to increase government investment in the early stage and guide private investment in the middle and late stages.Finally,this chapter argues that at present,China should establish a government-led investment model,while giving full play to the role of government industrial policy guidance and incentives to promote private investment.Chapter 6 provides the conclusions and puts forward policy recommendations.Based on the huge population and the rapid increase of the aged population in our country,the elderly care integrated with medical needs and the pressure of economic growth cannot be ignored.Healthy aging can promote economic growth and is a solution to the pressure of population aging.The elderly care integrated with medical can improve the health life expectancy of the elderly,improve the quality of life and happiness of the elderly,and improve the accumulation of healthy human capital.In order to promote the development of the elderly care integrated with medical,increasing government investment in the early stage can promote economic growth,but in the long run,the contribution of excessive investment to economic growth will decrese.Based on the above conclusions,this paper puts forward policy suggestions:(i)Reform the separation system of medical and elderly care and develop the elderly care integrated with medical to promote the healthy aging.(ii)Increase government investment in the elderly care integrated with medical in the early stage to promote healthy aging.(iii)Formulate a sound industrial policy to improve the investment efficiency of the elderly care integrated with medical.(iv)Perfect the financial support system of the elderly care integrated with medical,improving Bank Credit Fund Support and Capital Market Financing Function and improve the financing function of the capital market are both included.The innovations of this paper include:(i)Expanding the endogenous growth model incorporating population age structure and healthy human capital,discovering the role of healthy aging in the economy and enriching the economic growth theory.Unlike the existing studies which neglect the contribution of the elderly in economic growth,this paper describes the spillover effect of healthy elderly on the economy in the two-sector endogenous growth model,and draws the conclusion that improving health investment is conducive to achieving healthy aging and promoting economic growth.(ii)Expanding the concept of healthy human capital and bringing healthy elderly people into the category of healthy human capital.We find that the healthy human capital of healthy elderly people is an important factor affecting endogenous economic growth.Previous studies only considered the healthy human capital of young people as the labor force,but neglected the contribution of healthy human capital held by healthy elderly people.In fact,it is not age but health condition that restricts the work of the elderly.This paper is different from the existing literature.It holds that healthy elderly people can also contribute to human capital.It also proves that healthy elderly people play an important role in economic growth through both theoretical and empirical aspects,which can not be ignored.(iii)This paper proves that the elderly care integrated with medical is conducive to the improvement of the level of healthy aging.Therefore,it is suggested to reform the separation system of medical care and maintenance,and vigorously develop the elderly care integrated with medical to promote healthy aging which could cope with the pressure of population aging.At the same time,it is proved that the key to alleviate the serious contradiction between supply and demand is to improve the investment mechanism and the efficiency of investment,which solves the investment constraints. |
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