Study On The Impact Of China's Population Aging On Economic Growth

With the aggravation of the aging of population and the decline of the absolute number of labor force,China's first demographic dividend will gradually disappear,and economic growth must be shifted from relying on the number of labor force to relying on the quality of labor.Therefore,clarifying the relationship between population aging and economic growth can help to cope with the impact of population aging on economic growth,ensure sustainable economic growth,transform economic growth models,and promote the establishment of a well-off society in an all-round way.Based on the systematic review and combing of domestic and foreign literatures,this paper analyzes the current situation,characteristics,and causes of population aging,and clarifies the mechanism of China's population aging on economic growth,builds a dynamic panel model,and combines statistical data from 1997 to 2017.The system GMM method is selected to estimate the model.It is found that under the condition that other economic growth drivers are unchanged,population aging has a certain negative impact on China's economic growth.This conclusion is still supported by the robustness test.It is necessary to take various measures to deal with China's aging trap.In order to avoid this dilemma,we should proceed from the following aspects: fully exploit the second demographic dividend,improve the old-age security system,release the relative advantages of the elderly population,and extend the elderly employment market;moderately delay the retirement age,and ease the burden of social pension;At the same time,improve the current education and training system,improve the stock of human capital in the central and western regions and improve the quality of labor in rural areas,and provide the necessary talent reserves for regional economic development.Finally,the corresponding population migration policies should be formulated to slow down the speed of regional population aging development,and promote the coordinated development of regional economy.